Broadstone Net Lease (NYSE:BNL) Research Coverage Started at UBS Group

UBS Group started coverage on shares of Broadstone Net Lease (NYSE:BNL) in a report issued on Thursday, MarketBeat.com reports. The firm issued a neutral rating and a $18.00 price target on the stock.

A number of other equities analysts have also recently issued reports on BNL. Wedbush assumed coverage on shares of Broadstone Net Lease in a research note on Monday, August 19th. They issued an “outperform” rating and a $20.00 price target on the stock. Truist Financial upped 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 note on Friday, August 16th. Finally, The Goldman Sachs Group increased their price target on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, September 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Broadstone Net Lease presently has an average rating of “Hold” and a consensus target price of $18.20.

Broadstone Net Lease Stock Performance

Shares of BNL opened at $17.20 on Thursday. Broadstone Net Lease has a fifty-two week low of $14.20 and a fifty-two week high of $19.15. The firm’s 50-day simple moving average is $18.19 and its two-hundred day simple moving average is $17.05. The stock has a market cap of $3.24 billion, a PE ratio of 22.63 and a beta of 1.12.

Broadstone Net Lease (NYSE:BNL) last posted 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). The company had revenue of $108.40 million during the quarter, compared to analysts’ expectations of $106.47 million. Broadstone Net Lease had a return on equity of 4.47% and a net margin of 33.56%. During the same quarter in the previous year, the company earned $0.36 EPS. Equities research analysts predict that Broadstone Net Lease will post 1.39 EPS for the current year.

Broadstone Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 6.74%. The ex-dividend date is Tuesday, December 31st. Broadstone Net Lease’s dividend payout ratio (DPR) 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 BNL. Prevail Innovative Wealth Advisors LLC purchased a new position in Broadstone Net Lease in the first quarter worth about $1,716,000. Legato Capital Management LLC purchased a new position in shares of Broadstone Net Lease during the 2nd quarter worth $1,404,000. Sei Investments Co. grew its position in shares of Broadstone Net Lease by 20.8% during the 2nd quarter. Sei Investments Co. now owns 545,556 shares of the company’s stock valued at $8,658,000 after acquiring an additional 94,092 shares during the period. Victory Capital Management Inc. increased its stake in shares of 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 purchasing an additional 1,029,048 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Broadstone Net Lease by 6.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 110,586 shares of the company’s stock worth $1,733,000 after purchasing an additional 6,906 shares during the period. 89.07% of the stock is owned by institutional investors.

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.