Analysts Set Broadstone Net Lease, Inc. (NYSE:BNL) PT at $18.25

Shares of Broadstone Net Lease, Inc. (NYSE:BNL - Get Free Report) have been given a consensus rating of "Hold" by the six ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $18.25.

BNL has been the topic of several research analyst reports. 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. Truist Financial increased their target price on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the stock a "hold" rating in a report on Friday, August 16th. Finally, Wedbush began coverage on shares of Broadstone Net Lease in a report on Monday, August 19th. They set an "outperform" rating and a $20.00 price objective for the company.

Hedge Funds Weigh In On Broadstone Net Lease

Several hedge funds have recently modified their holdings of BNL. Citigroup Inc. boosted its position in Broadstone Net Lease by 86.0% in the third quarter. Citigroup Inc. now owns 246,987 shares of the company's stock valued at $4,680,000 after buying an additional 114,215 shares during the last quarter. Eagle Asset Management Inc. purchased a new stake in Broadstone Net Lease in the third quarter valued at approximately $4,928,000. Intech Investment Management LLC purchased a new stake in Broadstone Net Lease in the third quarter valued at approximately $633,000. Segall Bryant & Hamill LLC purchased a new stake in Broadstone Net Lease in the third quarter valued at approximately $3,691,000. Finally, Pathstone Holdings LLC boosted its position in Broadstone Net Lease by 30.6% in the 3rd quarter. Pathstone Holdings LLC now owns 95,977 shares of the company's stock worth $1,819,000 after purchasing an additional 22,461 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Broadstone Net Lease Stock Performance

Shares of NYSE BNL traded down $0.49 during mid-day trading on Tuesday, hitting $17.13. The stock had a trading volume of 497,179 shares, compared to its average volume of 1,156,937. Broadstone Net Lease has a 1 year low of $14.20 and a 1 year high of $19.15. The business has a 50 day moving average price of $18.29 and a two-hundred day moving average price of $17.00. The firm has a market cap of $3.23 billion, a P/E ratio of 23.18 and a beta of 1.12.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $108.40 million for the quarter, compared to analysts' expectations 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 period in the previous year, the firm posted $0.36 earnings per share. Equities research analysts predict that Broadstone Net Lease will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.29 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 annualized dividend and a dividend yield of 6.77%. Broadstone Net Lease's dividend payout ratio (DPR) is currently 152.63%.

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.