Broadstone Net Lease (NYSE:BNL) Stock Rating Upgraded by JMP Securities

JMP Securities upgraded shares of Broadstone Net Lease (NYSE:BNL) from a market perform rating to an outperform rating in a report published on Tuesday, MarketBeat Ratings reports. JMP Securities currently has $21.00 price objective on the stock.

Several other equities research analysts have also recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Friday, September 13th. UBS Group assumed coverage on shares of Broadstone Net Lease in a report on Thursday, November 14th. They set a “neutral” rating and a $18.00 target price for the company. Finally, Wedbush began coverage on shares of Broadstone Net Lease in a research report on Monday, August 19th. They set an “outperform” rating and a $20.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Broadstone Net Lease currently has an average rating of “Hold” and an average target price of $18.60.

Broadstone Net Lease Stock Performance

Shares of BNL opened at $15.86 on Tuesday. The business’s fifty day moving average price is $17.49 and its two-hundred day moving average price is $17.34. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 20.87 and a beta of 1.10. Broadstone Net Lease has a 52 week low of $14.20 and a 52 week high of $19.15.

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

Broadstone Net Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 7.31%. The ex-dividend date of this dividend is Tuesday, December 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 152.63%.

Institutional Investors Weigh In On Broadstone Net Lease

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. lifted its stake in Broadstone Net Lease by 66.8% in the 3rd quarter. Franklin Resources Inc. now owns 574,124 shares of the company’s stock valued at $10,512,000 after acquiring an additional 229,874 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Broadstone Net Lease by 1.3% in the third quarter. Geode Capital Management LLC now owns 4,844,943 shares of the company’s stock valued at $91,827,000 after purchasing an additional 62,515 shares during the last quarter. Barclays PLC lifted its position in shares of Broadstone Net Lease by 131.1% in the third quarter. Barclays PLC now owns 318,142 shares of the company’s stock worth $6,028,000 after purchasing an additional 180,456 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Broadstone Net Lease by 0.9% during the third quarter. Public Employees Retirement System of Ohio now owns 270,542 shares of the company’s stock worth $5,127,000 after purchasing an additional 2,387 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Broadstone Net Lease during the third quarter worth $348,000. 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.