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

Broadstone Net Lease, Inc. (NYSE:BNL - Get Free Report) has received an average rating of "Hold" from the eight brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $18.60.

Several brokerages recently issued reports on BNL. UBS Group began coverage on shares of Broadstone Net Lease in a report on Thursday, November 14th. They set a "neutral" rating and a $18.00 price target for the company. JMP Securities upgraded shares of Broadstone Net Lease from a "market perform" rating to an "outperform" rating and set a $21.00 price objective for the company in a research report on Tuesday, December 17th. Finally, Citizens Jmp upgraded shares of Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, December 17th.

Broadstone Net Lease Stock Performance

Shares of NYSE:BNL traded down $0.08 during midday trading on Thursday, reaching $15.95. 421,192 shares of the company's stock were exchanged, compared to its average volume of 1,035,627. The company's 50 day simple moving average is $15.82 and its two-hundred day simple moving average is $17.17. The firm has a market capitalization of $3.01 billion, a PE ratio of 18.32 and a beta of 1.11. Broadstone Net Lease has a 12 month low of $14.20 and a 12 month high of $19.15.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.16. The company had revenue of $112.13 million during the quarter, compared to the consensus estimate of $109.80 million. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. On average, research analysts anticipate that Broadstone Net Lease will post 1.43 earnings per share for the current year.

Broadstone Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 7.27%. The ex-dividend date of this dividend is Monday, March 31st. Broadstone Net Lease's payout ratio is 133.33%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Evermay Wealth Management LLC boosted its holdings in Broadstone Net Lease by 1.4% during the third quarter. Evermay Wealth Management LLC now owns 49,186 shares of the company's stock worth $937,000 after purchasing an additional 677 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in Broadstone Net Lease by 1.0% during the fourth quarter. State of Alaska Department of Revenue now owns 90,318 shares of the company's stock worth $1,432,000 after purchasing an additional 882 shares during the last quarter. Cerity Partners LLC boosted its holdings in Broadstone Net Lease by 2.2% during the third quarter. Cerity Partners LLC now owns 40,480 shares of the company's stock worth $767,000 after purchasing an additional 886 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Broadstone Net Lease by 3.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 23,826 shares of the company's stock worth $378,000 after purchasing an additional 892 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in Broadstone Net Lease by 2.2% during the fourth quarter. Corient Private Wealth LLC now owns 41,892 shares of the company's stock worth $664,000 after purchasing an additional 907 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

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.