Broadstone Net Lease, Inc. (NYSE:BNL) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Broadstone Net Lease, Inc. (NYSE:BNL) have received a consensus rating of “Hold” from the nine research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $18.83.

BNL has been the subject of a number of research analyst reports. Citizens Jmp raised Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. BMO Capital Markets set a $20.00 price objective on Broadstone Net Lease and gave the company an “outperform” rating in a research note on Monday, March 24th. Finally, JMP Securities raised shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Tuesday, December 17th.

Institutional Investors Weigh In On Broadstone Net Lease

Several hedge funds have recently modified their holdings of BNL. Thrivent Financial for Lutherans purchased a new position in Broadstone Net Lease during the third quarter worth about $3,186,000. Pathstone Holdings LLC increased its position in Broadstone Net Lease by 30.6% during the 3rd quarter. Pathstone Holdings LLC now owns 95,977 shares of the company’s stock worth $1,819,000 after purchasing an additional 22,461 shares during the period. Intech Investment Management LLC purchased a new position in shares of Broadstone Net Lease during the 3rd quarter worth approximately $633,000. Citigroup Inc. lifted its holdings in shares of Broadstone Net Lease by 86.0% in the 3rd quarter. Citigroup Inc. now owns 246,987 shares of the company’s stock valued at $4,680,000 after buying an additional 114,215 shares during the period. Finally, Cerity Partners LLC boosted its stake in shares of Broadstone Net Lease by 2.2% in the third quarter. Cerity Partners LLC now owns 40,480 shares of the company’s stock valued at $767,000 after buying an additional 886 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Broadstone Net Lease Trading Down 0.5 %

Shares of NYSE:BNL opened at $16.97 on Wednesday. The firm has a 50 day simple moving average of $16.31 and a 200-day simple moving average of $16.98. Broadstone Net Lease has a twelve month low of $14.21 and a twelve month high of $19.15. The company has a market capitalization of $3.20 billion, a PE ratio of 19.50 and a beta of 1.09.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.16. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. The firm had revenue of $112.13 million during the quarter, compared to analysts’ expectations of $109.80 million. As a group, equities research analysts predict that Broadstone Net Lease will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date is Monday, March 31st. Broadstone Net Lease’s payout ratio is currently 133.33%.

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.