Brokerages Set Broadstone Net Lease, Inc. (NYSE:BNL) Price Target at $18.60

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

A number of equities research analysts recently issued reports on BNL shares. JMP Securities raised shares of Broadstone Net Lease from a "market perform" rating to an "outperform" rating and set a $21.00 price target on the stock in a research note on Tuesday, December 17th. UBS Group began coverage on shares of Broadstone Net Lease in a research report on Thursday, November 14th. They set a "neutral" rating and a $18.00 target price on the stock. The Goldman Sachs Group lifted their price target on Broadstone Net Lease from $14.50 to $16.00 and gave the stock a "sell" rating in a research report on Friday, September 13th. Finally, Citizens Jmp raised Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, December 17th.

Broadstone Net Lease Price Performance

Shares of BNL stock traded down $0.07 during trading hours on Wednesday, hitting $15.86. The stock had a trading volume of 1,117,071 shares, compared to its average volume of 1,154,532. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 20.87 and a beta of 1.10. Broadstone Net Lease has a one year low of $14.20 and a one year high of $19.15. The stock's 50-day moving average price is $17.06 and its two-hundred day moving average price is $17.40.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last released 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 firm had revenue of $108.40 million during the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $0.36 EPS. As a group, equities research analysts predict that Broadstone Net Lease will post 1.39 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 7.31%. The ex-dividend date is Tuesday, December 31st. Broadstone Net Lease's dividend payout ratio (DPR) is currently 152.63%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BNL. Millennium Management LLC raised its holdings in shares of Broadstone Net Lease by 709.4% in the second quarter. Millennium Management LLC now owns 3,177,459 shares of the company's stock worth $50,426,000 after buying an additional 2,784,878 shares during the period. Victory Capital Management Inc. increased its stake in Broadstone Net Lease by 2,302.8% in the second quarter. Victory Capital Management Inc. now owns 1,073,735 shares of the company's stock worth $17,040,000 after purchasing an additional 1,029,048 shares during the period. Brookfield Corp ON purchased a new stake in Broadstone Net Lease in the third quarter worth $18,444,000. Wellington Management Group LLP bought a new stake in shares of Broadstone Net Lease during the third quarter worth $12,574,000. Finally, Systematic Financial Management LP boosted its stake in shares of Broadstone Net Lease by 298.1% during the third quarter. Systematic Financial Management LP now owns 747,706 shares of the company's stock valued at $14,169,000 after purchasing an additional 559,906 shares during the period. Hedge funds and other institutional investors 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.