Short Interest in Broadstone Net Lease, Inc. (NYSE:BNL) Grows By 5.7%

Broadstone Net Lease, Inc. (NYSE:BNL - Get Free Report) was the target of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 3,890,000 shares, an increase of 5.7% from the November 15th total of 3,680,000 shares. Based on an average daily volume of 1,030,000 shares, the short-interest ratio is presently 3.8 days. Currently, 2.1% of the shares of the company are short sold.

Institutional Investors Weigh In On Broadstone Net Lease

Several institutional investors and hedge funds have recently modified their holdings of the business. Evermay Wealth Management LLC boosted its holdings in Broadstone Net Lease by 1.2% in the second quarter. Evermay Wealth Management LLC now owns 48,509 shares of the company's stock valued at $774,000 after acquiring an additional 579 shares during the last quarter. Xponance Inc. grew its stake in Broadstone Net Lease by 5.1% in the 2nd quarter. Xponance Inc. now owns 11,922 shares of the company's stock valued at $189,000 after buying an additional 580 shares during the last quarter. Cerity Partners LLC grew its position in shares of Broadstone Net Lease by 2.2% during the 3rd quarter. Cerity Partners LLC now owns 40,480 shares of the company's stock worth $767,000 after purchasing an additional 886 shares in the last quarter. Stifel Financial Corp boosted its holdings in shares of Broadstone Net Lease by 6.5% in the 3rd quarter. Stifel Financial Corp now owns 15,470 shares of the company's stock valued at $293,000 after purchasing an additional 939 shares in the last quarter. Finally, HB Wealth Management LLC lifted its stake in shares of Broadstone Net Lease by 4.8% in the 2nd quarter. HB Wealth Management LLC now owns 21,178 shares of the company's stock valued at $336,000 after acquiring an additional 967 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BNL. UBS Group started coverage on Broadstone Net Lease in a research note on Thursday, November 14th. They issued a "neutral" rating and a $18.00 price objective for the company. The Goldman Sachs Group increased their price objective on Broadstone Net Lease from $14.50 to $16.00 and gave the company a "sell" rating in a research report on Friday, September 13th. Finally, Wedbush began coverage on Broadstone Net Lease in a research report on Monday, August 19th. They set an "outperform" rating and a $20.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $18.20.

Broadstone Net Lease Price Performance

Shares of NYSE BNL remained flat at $16.90 during midday trading on Monday. 668,829 shares of the stock were exchanged, compared to its average volume of 1,144,243. The stock's 50-day simple moving average is $17.63 and its 200 day simple moving average is $17.33. The stock has a market capitalization of $3.19 billion, a P/E ratio of 22.24 and a beta of 1.10. Broadstone Net Lease has a 1-year low of $14.20 and a 1-year high of $19.15.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.15). Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.47%. The business had revenue of $108.40 million for the quarter, compared to analyst estimates of $106.47 million. During the same period last year, the firm earned $0.36 earnings per share. Research analysts predict that Broadstone Net Lease will post 1.39 earnings per share for the current 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 dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a yield of 6.86%. Broadstone Net Lease's payout ratio is 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.