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

Broadstone Net Lease, Inc. (NYSE:BNL) has earned an average rating of “Hold” from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $18.83.

A number of research firms have weighed in on BNL. JMP Securities upgraded shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research report on Tuesday, December 17th. BMO Capital Markets set a $20.00 price target on Broadstone Net Lease and gave the stock an “outperform” rating in a report on Monday. Finally, Citizens Jmp raised shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th.

Institutional Trading of Broadstone Net Lease

Institutional investors and hedge funds have recently made changes to their positions in the business. Fairtree Asset Management Pty Ltd purchased a new stake in shares of Broadstone Net Lease in the 4th quarter worth approximately $413,000. Wealth Enhancement Advisory Services LLC boosted its position in Broadstone Net Lease by 1.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 362,398 shares of the company’s stock valued at $5,748,000 after acquiring an additional 4,523 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in Broadstone Net Lease during the 4th quarter valued at $54,000. PharVision Advisers LLC bought a new position in shares of Broadstone Net Lease in the 4th quarter worth $229,000. Finally, Zimmer Partners LP lifted its stake in shares of Broadstone Net Lease by 550.0% during the 4th quarter. Zimmer Partners LP now owns 325,000 shares of the company’s stock worth $5,154,000 after purchasing an additional 275,000 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Broadstone Net Lease Stock Performance

Shares of BNL traded up $0.26 during trading hours on Wednesday, hitting $17.06. The company had a trading volume of 2,144,669 shares, compared to its average volume of 1,198,197. Broadstone Net Lease has a 52-week low of $14.20 and a 52-week high of $19.15. The firm has a fifty day moving average price of $16.23 and a 200-day moving average price of $17.01. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 19.59 and a beta of 1.09.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.20 by $0.16. The company had revenue of $112.13 million for the quarter, compared to analysts’ expectations of $109.80 million. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. Research analysts anticipate 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, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 6.80%. The ex-dividend date of this dividend is Monday, March 31st. Broadstone Net Lease’s payout ratio is 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.