Broadstone Net Lease, Inc. (NYSE:BNL) Short Interest Up 5.7% in November

Broadstone Net Lease, Inc. (NYSE:BNL) was the recipient of a large growth in short interest in November. As of November 30th, there was short interest totalling 3,890,000 shares, a growth of 5.7% from the November 15th total of 3,680,000 shares. Based on an average daily volume of 1,030,000 shares, the days-to-cover ratio is currently 3.8 days. Approximately 2.1% of the company’s stock are short sold.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in Broadstone Net Lease by 257.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $33,000 after purchasing an additional 1,272 shares during the period. Quarry LP increased its position in shares of Broadstone Net Lease by 93.1% in the second quarter. Quarry LP now owns 2,556 shares of the company’s stock valued at $41,000 after buying an additional 1,232 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Broadstone Net Lease by 156.5% during the 3rd quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock valued at $74,000 after buying an additional 2,381 shares in the last quarter. US Bancorp DE lifted its position in shares of Broadstone Net Lease by 636.6% during the 3rd quarter. US Bancorp DE now owns 3,941 shares of the company’s stock valued at $75,000 after buying an additional 3,406 shares in the last quarter. Finally, KBC Group NV grew its stake in Broadstone Net Lease by 29.4% in the 3rd quarter. KBC Group NV now owns 6,220 shares of the company’s stock valued at $118,000 after acquiring an additional 1,413 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Stock Performance

Shares of BNL opened at $16.78 on Wednesday. The business’s 50-day moving average is $17.58 and its two-hundred day moving average is $17.35. The company has a market capitalization of $3.16 billion, a P/E ratio of 22.07 and a beta of 1.10. Broadstone Net Lease has a fifty-two week low of $14.20 and a fifty-two week high of $19.15.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.15). Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.47%. The company had revenue of $108.40 million for the quarter, compared to analysts’ expectations of $106.47 million. During the same quarter in the prior year, the business posted $0.36 earnings per share. Analysts forecast that Broadstone Net Lease will post 1.39 EPS for the current year.

Broadstone Net Lease Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.29 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 annualized dividend and a yield of 6.92%. Broadstone Net Lease’s dividend payout ratio is presently 152.63%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BNL. The Goldman Sachs Group upped their target price on Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a research report on Friday, September 13th. Citizens Jmp raised shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. 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 research report on Tuesday. Finally, UBS Group started coverage on shares of Broadstone Net Lease in a report on Thursday, November 14th. They issued a “neutral” rating and a $18.00 price target for the company. One analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Broadstone Net Lease currently has an average rating of “Hold” and a consensus target price of $18.67.

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.