Broadstone Net Lease, Inc. (NYSE:BNL) Receives Consensus Rating of “Hold” from Brokerages

Shares of Broadstone Net Lease, Inc. (NYSE:BNL) have earned an average rating of “Hold” from the six brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $18.25.

A number of analysts have recently issued reports on the stock. Wedbush initiated coverage on shares of Broadstone Net Lease in a report on Monday, August 19th. They set an “outperform” rating and a $20.00 price target on the stock. The Goldman Sachs Group raised their target price on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, September 13th. Finally, Truist Financial lifted their target price on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Friday, August 16th.

Hedge Funds Weigh In On Broadstone Net Lease

A number of institutional investors have recently bought and sold shares of the stock. Millennium Management LLC grew its holdings in Broadstone Net Lease by 709.4% during the second quarter. Millennium Management LLC now owns 3,177,459 shares of the company’s stock valued at $50,426,000 after purchasing an additional 2,784,878 shares during the period. V3 Capital Management L.P. bought a new position in shares of Broadstone Net Lease during the 1st quarter valued at approximately $20,747,000. Lasalle Investment Management Securities LLC purchased a new stake in Broadstone Net Lease in the 1st quarter worth approximately $18,226,000. Victory Capital Management Inc. increased its holdings in Broadstone Net Lease by 2,302.8% in the 2nd quarter. Victory Capital Management Inc. now owns 1,073,735 shares of the company’s stock worth $17,040,000 after acquiring an additional 1,029,048 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Broadstone Net Lease by 431.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,176,195 shares of the company’s stock worth $18,431,000 after acquiring an additional 955,066 shares during the period. 89.07% of the stock is owned by institutional investors.

Broadstone Net Lease Stock Down 0.4 %

NYSE:BNL opened at $18.61 on Friday. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 19.39 and a beta of 1.11. The company’s 50 day moving average price is $18.27 and its 200-day moving average price is $16.59. Broadstone Net Lease has a 52 week low of $13.68 and a 52 week high of $19.15.

Broadstone Net Lease (NYSE:BNL) last posted its earnings results on Tuesday, July 30th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). Broadstone Net Lease had a return on equity of 4.86% and a net margin of 36.78%. The business had revenue of $105.91 million during the quarter, compared to the consensus estimate of $105.95 million. During the same period in the previous year, the business posted $0.35 EPS. As a group, sell-side analysts anticipate that Broadstone Net Lease will post 1.39 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 6.23%. The ex-dividend date of this dividend was Monday, September 30th. Broadstone Net Lease’s dividend payout ratio is presently 120.83%.

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.