Analysts Set Broadstone Net Lease, Inc. (NYSE:BNL) Price Target at $18.60

Shares of Broadstone Net Lease, Inc. (NYSE:BNL) have earned an average recommendation of “Hold” from the eight brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $18.60.

Several brokerages recently commented on BNL. The Goldman Sachs Group raised their target price 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 upgraded shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research note on Tuesday, December 17th. Citizens Jmp upgraded shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. Finally, UBS Group assumed coverage on shares of Broadstone Net Lease in a research note on Thursday, November 14th. They set a “neutral” rating and a $18.00 price target on the stock.

Hedge Funds Weigh In On Broadstone Net Lease

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in shares of Broadstone Net Lease by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,834,413 shares of the company’s stock valued at $34,762,000 after acquiring an additional 84,509 shares in the last quarter. Franklin Resources Inc. increased its stake in Broadstone Net Lease by 66.8% during the third quarter. Franklin Resources Inc. now owns 574,124 shares of the company’s stock valued at $10,512,000 after purchasing an additional 229,874 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Broadstone Net Lease by 1.3% during the third quarter. Geode Capital Management LLC now owns 4,844,943 shares of the company’s stock worth $91,827,000 after purchasing an additional 62,515 shares during the period. Barclays PLC lifted its position in shares of Broadstone Net Lease by 131.1% in the 3rd quarter. Barclays PLC now owns 318,142 shares of the company’s stock worth $6,028,000 after buying an additional 180,456 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Broadstone Net Lease by 0.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 270,542 shares of the company’s stock valued at $5,127,000 after buying an additional 2,387 shares during the period. Institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Trading Up 1.0 %

Shares of BNL stock opened at $15.85 on Wednesday. The company has a market cap of $2.99 billion, a PE ratio of 20.86 and a beta of 1.10. The company’s fifty day simple moving average is $16.97 and its 200-day simple moving average is $17.39. 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 released its quarterly earnings data on Wednesday, October 30th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.15). The company had revenue of $108.40 million during 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 last year, the business earned $0.36 earnings per share. Equities research analysts expect that Broadstone Net Lease will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.29 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 annualized dividend and a yield of 7.32%. Broadstone Net Lease’s dividend payout ratio is presently 152.63%.

About Broadstone Net Lease

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.