Broadstone Net Lease (NYSE:BNL) Upgraded at Citizens Jmp

Citizens Jmp upgraded shares of Broadstone Net Lease (NYSE:BNL) from a hold rating to a strong-buy rating in a report released on Tuesday,Zacks.com reports.

Several other analysts also recently commented on BNL. Wedbush assumed coverage on shares of Broadstone Net Lease in a research report on Monday, August 19th. They set an “outperform” rating and a $20.00 price objective on the stock. The Goldman Sachs Group raised their price target on Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, September 13th. JMP Securities raised Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research note on Tuesday. Finally, UBS Group started coverage on shares of Broadstone Net Lease in a report on Thursday, November 14th. They set a “neutral” rating and a $18.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Broadstone Net Lease has a consensus rating of “Hold” and an average target price of $18.60.

Broadstone Net Lease Stock Performance

NYSE BNL opened at $15.86 on Tuesday. The business’s fifty day moving average is $17.49 and its 200 day moving average is $17.34. Broadstone Net Lease has a fifty-two week low of $14.20 and a fifty-two week high of $19.15. The company has a market capitalization of $2.99 billion, a PE ratio of 20.87 and a beta of 1.10.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The company had revenue of $108.40 million for the quarter, compared to analysts’ expectations 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 in the previous year, the firm earned $0.36 earnings per share. On average, sell-side analysts forecast that Broadstone Net Lease will post 1.39 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid 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 is currently 152.63%.

Institutional Trading of Broadstone Net Lease

A number of large investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in shares of Broadstone Net Lease by 257.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $33,000 after buying an additional 1,272 shares in the last quarter. Quarry LP boosted its holdings in shares of Broadstone Net Lease by 93.1% during the second quarter. Quarry LP now owns 2,556 shares of the company’s stock worth $41,000 after purchasing an additional 1,232 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Broadstone Net Lease by 156.5% in the third quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock worth $74,000 after acquiring an additional 2,381 shares during the last quarter. US Bancorp DE grew its stake in shares of Broadstone Net Lease by 636.6% during the 3rd quarter. US Bancorp DE now owns 3,941 shares of the company’s stock valued at $75,000 after buying an additional 3,406 shares during the period. Finally, KBC Group NV grew its position in Broadstone Net Lease by 29.4% during 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 during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

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.