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

Broadstone Net Lease, Inc. (NYSE:BNL) has been assigned an average recommendation of “Hold” from the eight research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $18.60.

A number of research firms recently commented on BNL. Citizens Jmp raised shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. UBS Group initiated coverage on shares of Broadstone Net Lease in a research report on Thursday, November 14th. They issued a “neutral” rating and a $18.00 price target for the company. Finally, JMP Securities raised Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research report on Tuesday, December 17th.

Broadstone Net Lease Stock Up 1.0 %

Shares of BNL stock opened at $16.01 on Friday. Broadstone Net Lease has a 12-month low of $14.20 and a 12-month high of $19.15. The firm has a 50 day moving average price of $16.41 and a two-hundred day moving average price of $17.39. The company has a market capitalization of $3.02 billion, a PE ratio of 21.06 and a beta of 1.11.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings results 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). The firm had revenue of $108.40 million during the quarter, compared to the consensus estimate of $106.47 million. Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.47%. During the same quarter last year, the firm earned $0.36 earnings per share. As a group, 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 announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 7.25%. The ex-dividend date of this dividend was Tuesday, December 31st. Broadstone Net Lease’s payout ratio is presently 152.63%.

Hedge Funds Weigh In On Broadstone Net Lease

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