Analysts Set Broadstone Net Lease, Inc. (NYSE:BNL) Target Price at $18.83

Shares of Broadstone Net Lease, Inc. (NYSE:BNL - Get Free Report) have earned an average rating of "Hold" from the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $18.83.

A number of research firms have recently commented on BNL. Citizens Jmp raised shares of Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a report on Tuesday, December 17th. BMO Capital Markets set a $20.00 price objective on Broadstone Net Lease and gave the stock an "outperform" rating in a research note on Monday, March 24th. Finally, 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 report on Tuesday, December 17th.

Broadstone Net Lease Trading Down 0.5 %

Broadstone Net Lease stock traded down $0.09 on Wednesday, reaching $16.97. 1,406,673 shares of the stock were exchanged, compared to its average volume of 1,129,991. The stock has a market cap of $3.20 billion, a PE ratio of 19.50 and a beta of 1.09. The firm has a fifty day moving average price of $16.31 and a two-hundred day moving average price of $16.98. Broadstone Net Lease has a twelve month low of $14.21 and a twelve month high of $19.15.

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

Broadstone Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 6.84%. The ex-dividend date of this dividend is Monday, March 31st. Broadstone Net Lease's payout ratio is 133.33%.

Institutional Trading of Broadstone Net Lease

Hedge funds have recently added to or reduced their stakes in the business. Fairtree Asset Management Pty Ltd acquired a new stake in Broadstone Net Lease in the 4th quarter valued at $413,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Broadstone Net Lease by 1.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 362,398 shares of the company's stock worth $5,748,000 after purchasing an additional 4,523 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Broadstone Net Lease during the 4th quarter worth approximately $54,000. PharVision Advisers LLC acquired a new stake in shares of Broadstone Net Lease in the 4th quarter valued at approximately $229,000. Finally, Zimmer Partners LP grew its stake in shares of Broadstone Net Lease by 550.0% in the fourth quarter. Zimmer Partners LP now owns 325,000 shares of the company's stock valued at $5,154,000 after buying an additional 275,000 shares in 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.