Broadstone Net Lease, Inc. (NYSE:BNL) Receives Average Recommendation of "Hold" from Brokerages

Broadstone Net Lease, Inc. (NYSE:BNL - Get Free Report) has earned an average recommendation of "Hold" from the eight analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $18.60.

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

Hedge Funds Weigh In On Broadstone Net Lease

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in Broadstone Net Lease by 257.5% in the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company's stock worth $33,000 after acquiring an additional 1,272 shares during the last quarter. Quarry LP lifted its holdings in 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. lifted its holdings in Broadstone Net Lease by 156.5% in the third quarter. Blue Trust Inc. now owns 3,902 shares of the company's stock worth $74,000 after acquiring an additional 2,381 shares during the last quarter. US Bancorp DE lifted its holdings in Broadstone Net Lease by 636.6% in the third quarter. US Bancorp DE now owns 3,941 shares of the company's stock worth $75,000 after acquiring an additional 3,406 shares during the last quarter. Finally, KBC Group NV lifted its holdings in Broadstone Net Lease by 29.4% in the third quarter. KBC Group NV now owns 6,220 shares of the company's stock worth $118,000 after acquiring an additional 1,413 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Broadstone Net Lease Trading Up 1.0 %

Shares of Broadstone Net Lease stock traded up $0.16 during trading hours on Friday, reaching $16.01. 1,363,196 shares of the company's stock were exchanged, compared to its average volume of 749,020. Broadstone Net Lease has a 52-week low of $14.20 and a 52-week high of $19.15. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 21.06 and a beta of 1.11. The company has a fifty day moving average of $16.41 and a 200-day moving average of $17.39.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last issued its 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 firm 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 period last year, the business posted $0.36 earnings per share. On average, equities research analysts anticipate that Broadstone Net Lease will post 1.39 earnings per share for the current fiscal year.

Broadstone Net Lease Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.29 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a yield of 7.25%. Broadstone Net Lease's dividend payout ratio (DPR) is 152.63%.

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.