Brokerages Set Broadstone Net Lease, Inc. (NYSE:BNL) Target Price at $18.25

Broadstone Net Lease, Inc. (NYSE:BNL) has earned an average recommendation of “Hold” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $18.20.

A number of analysts have issued reports on BNL shares. Wedbush initiated coverage on Broadstone Net Lease in a research note on Monday, August 19th. They issued an “outperform” rating and a $20.00 price target on the stock. The Goldman Sachs Group increased their price objective on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, September 13th. Truist Financial boosted their target price on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a report on Friday, August 16th. Finally, UBS Group began coverage on shares of Broadstone Net Lease in a research note on Thursday. They set a “neutral” rating and a $18.00 price target on the stock.

Broadstone Net Lease Price Performance

Broadstone Net Lease stock opened at $16.93 on Tuesday. The stock has a market capitalization of $3.19 billion, a P/E ratio of 22.28 and a beta of 1.12. Broadstone Net Lease has a 12-month low of $14.20 and a 12-month high of $19.15. The firm’s 50-day moving average is $18.22 and its two-hundred day moving average is $17.02.

Broadstone Net Lease (NYSE:BNL) last released its earnings results on Wednesday, October 30th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.15). Broadstone Net Lease had a return on equity of 4.47% and a net margin of 33.56%. The firm had revenue of $108.40 million during the quarter, compared to analysts’ expectations of $106.47 million. During the same period in the previous year, the firm posted $0.36 earnings per share. As a group, analysts forecast that Broadstone Net Lease will post 1.39 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.29 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 annualized dividend and a yield of 6.85%. Broadstone Net Lease’s dividend payout ratio is currently 152.63%.

Institutional Trading of Broadstone Net Lease

Several large investors have recently added to or reduced their stakes in BNL. GAMMA Investing LLC boosted its position in shares of Broadstone Net Lease by 257.5% in the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $33,000 after buying an additional 1,272 shares during the period. Quarry LP lifted its position in Broadstone Net Lease by 93.1% during the 2nd quarter. Quarry LP now owns 2,556 shares of the company’s stock worth $41,000 after acquiring an additional 1,232 shares in the last quarter. Blue Trust Inc. lifted its position in Broadstone Net Lease by 156.5% during the 3rd quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock worth $74,000 after acquiring an additional 2,381 shares in the last quarter. US Bancorp DE boosted its holdings in Broadstone Net Lease by 636.6% in the 3rd quarter. US Bancorp DE now owns 3,941 shares of the company’s stock worth $75,000 after acquiring an additional 3,406 shares during the period. Finally, KBC Group NV grew its position in Broadstone Net Lease by 29.4% in the third quarter. KBC Group NV now owns 6,220 shares of the company’s stock valued at $118,000 after acquiring an additional 1,413 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Broadstone Net Lease Company Profile

Broadstone Net Lease, Inc (the Corporation) is a Maryland corporation formed on October 18, 2007, that elected to be taxed as a real estate investment trust (REIT) commencing with the taxable year ended December 31, 2008. Broadstone Net Lease, LLC (the Corporation’s operating company, or the OP), is the entity through which the Corporation conducts its business and owns (either directly or through subsidiaries) all of the Corporation’s properties.