Broadstone Net Lease (NYSE:BNL) Given New $17.00 Price Target at UBS Group

Broadstone Net Lease (NYSE:BNL) had its target price decreased by UBS Group from $18.00 to $17.00 in a report issued on Tuesday morning,Benzinga reports. UBS Group currently has a neutral rating on the stock.

BNL has been the subject of several other research reports. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 price target on shares of Broadstone Net Lease in a research note on Monday, May 5th. Truist Financial lifted their price target on Broadstone Net Lease from $17.00 to $18.00 and gave the stock a “hold” rating in a research note on Monday, May 5th. Finally, BMO Capital Markets set a $20.00 price target on Broadstone Net Lease and gave the stock an “outperform” rating in a research note on Monday, March 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.67.

Broadstone Net Lease Stock Performance

NYSE:BNL opened at $15.98 on Tuesday. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 18.37 and a beta of 1.04. Broadstone Net Lease has a 52-week low of $13.96 and a 52-week high of $19.15. The stock has a fifty day moving average of $16.29 and a 200 day moving average of $16.40.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.16. The company had revenue of $112.13 million during the quarter, compared to analyst estimates of $109.80 million. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. Equities analysts forecast that Broadstone Net Lease will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $0.29 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.16 annualized dividend and a dividend yield of 7.26%. Broadstone Net Lease’s dividend payout ratio is currently 190.16%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. increased its holdings in shares of Broadstone Net Lease by 3.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 23,826 shares of the company’s stock worth $378,000 after buying an additional 892 shares during the period. Aew Capital Management L P increased its holdings in shares of Broadstone Net Lease by 2.3% in the fourth quarter. Aew Capital Management L P now owns 3,135,949 shares of the company’s stock worth $49,736,000 after buying an additional 69,690 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Broadstone Net Lease by 30.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 466,782 shares of the company’s stock worth $7,403,000 after buying an additional 108,907 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Broadstone Net Lease by 79.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 44,955 shares of the company’s stock valued at $705,000 after purchasing an additional 19,839 shares during the period. Finally, Sterling Capital Management LLC increased its holdings in Broadstone Net Lease by 807.5% during the 4th quarter. Sterling Capital Management LLC now owns 5,944 shares of the company’s stock valued at $94,000 after purchasing an additional 5,289 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

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.