Broadstone Net Lease, Inc. (NYSE:BNL) Given Consensus Rating of "Hold" by Analysts

Broadstone Net Lease, Inc. (NYSE:BNL - Get Free Report) has earned a consensus rating of "Hold" from the seven ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $18.20.

A number of research firms have issued reports on BNL. Truist Financial raised their target price on Broadstone Net Lease from $16.00 to $18.00 and gave the company a "hold" rating in a report on Friday, August 16th. 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 objective on the stock. The Goldman Sachs Group upped their target price on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the company a "sell" rating in a research note on Friday, September 13th. Finally, UBS Group assumed 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 on the stock.

Broadstone Net Lease Price Performance

Shares of NYSE BNL traded up $0.11 during trading hours on Friday, hitting $17.24. 834,512 shares of the stock were exchanged, compared to its average volume of 1,008,541. Broadstone Net Lease has a one year low of $14.20 and a one year high of $19.15. The company's 50 day moving average is $17.78 and its 200 day moving average is $17.25. The firm has a market capitalization of $3.25 billion, a P/E ratio of 22.68 and a beta of 1.10.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.15). The firm had revenue of $108.40 million for 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 company earned $0.36 earnings per share. Research analysts anticipate that Broadstone Net Lease will post 1.39 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.29 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a yield of 6.73%. Broadstone Net Lease's dividend payout ratio is currently 152.63%.

Institutional Investors Weigh In On Broadstone Net Lease

Institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. grew its stake in shares of Broadstone Net Lease by 66.8% in the 3rd quarter. Franklin Resources Inc. now owns 574,124 shares of the company's stock valued at $10,512,000 after purchasing an additional 229,874 shares during the period. Geode Capital Management LLC boosted its stake in Broadstone Net Lease by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,844,943 shares of the company's stock valued at $91,827,000 after buying an additional 62,515 shares in the last quarter. Barclays PLC grew its position in Broadstone Net Lease by 131.1% in the third quarter. Barclays PLC now owns 318,142 shares of the company's stock valued at $6,028,000 after acquiring an additional 180,456 shares during the period. Public Employees Retirement System of Ohio raised its stake in Broadstone Net Lease by 0.9% during the third quarter. Public Employees Retirement System of Ohio now owns 270,542 shares of the company's stock worth $5,127,000 after acquiring an additional 2,387 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in Broadstone Net Lease during the third quarter worth $348,000. 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.