Broadstone Net Lease, Inc. (NYSE:BNL) Receives $18.60 Consensus Target Price from Brokerages

Shares of Broadstone Net Lease, Inc. (NYSE:BNL) have been assigned a consensus recommendation of “Hold” from the eight analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $18.60.

BNL has been the topic of a number of recent research reports. The Goldman Sachs Group lifted their price target 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. UBS Group started coverage on Broadstone Net Lease in a research report on Thursday, November 14th. They issued a “neutral” rating and a $18.00 price target on the stock. Citizens Jmp upgraded Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Finally, JMP Securities upgraded Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Tuesday, December 17th.

Broadstone Net Lease Stock Up 1.0 %

Shares of BNL opened at $15.85 on Wednesday. The stock has a market cap of $2.99 billion, a PE ratio of 20.86 and a beta of 1.10. Broadstone Net Lease has a 12-month low of $14.20 and a 12-month high of $19.15. The business has a 50-day simple moving average of $16.97 and a two-hundred day simple moving average of $17.42.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.19 earnings per share (EPS) 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 firm had revenue of $108.40 million during the quarter, compared to analyst estimates of $106.47 million. During the same period in the prior year, the company earned $0.36 EPS. On average, equities research analysts expect that Broadstone Net Lease will post 1.39 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 7.32%. The ex-dividend date of this dividend is Tuesday, December 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 152.63%.

Institutional Trading of Broadstone Net Lease

Several large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in Broadstone Net Lease by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 1,834,413 shares of the company’s stock worth $34,762,000 after acquiring an additional 84,509 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Broadstone Net Lease by 66.8% during the 3rd quarter. Franklin Resources Inc. now owns 574,124 shares of the company’s stock worth $10,512,000 after purchasing an additional 229,874 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Broadstone Net Lease by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,844,943 shares of the company’s stock valued at $91,827,000 after buying an additional 62,515 shares during the period. Barclays PLC increased its position in Broadstone Net Lease by 131.1% in the 3rd quarter. Barclays PLC now owns 318,142 shares of the company’s stock valued at $6,028,000 after buying an additional 180,456 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in Broadstone Net Lease by 0.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 270,542 shares of the company’s stock worth $5,127,000 after buying an additional 2,387 shares during the period. Institutional investors and hedge funds 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.