Broadstone Net Lease, Inc. (NYSE:BNL) Receives $18.57 Consensus PT from Brokerages

Broadstone Net Lease, Inc. (NYSE:BNL) has been given an average recommendation of “Moderate Buy” by the eight brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $18.57.

BNL has been the topic of a number of analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 price objective on shares of Broadstone Net Lease in a report on Monday, June 2nd. UBS Group cut their price objective on shares of Broadstone Net Lease from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, July 16th. Wolfe Research raised shares of Broadstone Net Lease from a “peer perform” rating to an “outperform” rating and set a $19.00 price objective on the stock in a report on Monday, July 28th. Wall Street Zen downgraded shares of Broadstone Net Lease from a “hold” rating to a “sell” rating in a report on Saturday, July 26th. Finally, Truist Financial lifted their price objective on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the stock a “hold” rating in a report on Monday, May 5th.

Broadstone Net Lease Price Performance

BNL opened at $16.24 on Tuesday. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 31.23 and a beta of 1.00. The firm’s fifty day moving average price is $16.06 and its two-hundred day moving average price is $16.10. Broadstone Net Lease has a 1 year low of $13.96 and a 1 year high of $19.15.

Broadstone Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date is Tuesday, September 30th. Broadstone Net Lease’s payout ratio is presently 223.08%.

Institutional Investors Weigh In On Broadstone Net Lease

A number of hedge funds have recently made changes to their positions in BNL. Federated Hermes Inc. lifted its position in shares of Broadstone Net Lease by 73,833.3% during the 4th quarter. Federated Hermes Inc. now owns 2,218 shares of the company’s stock valued at $35,000 after buying an additional 2,215 shares during the last quarter. Wolff Wiese Magana LLC purchased a new position in shares of Broadstone Net Lease in the second quarter valued at $45,000. Tower Research Capital LLC TRC grew its position in shares of Broadstone Net Lease by 192.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,914 shares of the company’s stock valued at $46,000 after purchasing an additional 1,918 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Broadstone Net Lease in the fourth quarter valued at $54,000. Finally, Quarry LP purchased a new position in shares of Broadstone Net Lease in the fourth quarter valued at $57,000. 89.07% of the stock is currently owned by institutional investors.

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.