Broadstone Net Lease (NYSE:BNL) Sees Unusually-High Trading Volume - Should You Buy?

Shares of Broadstone Net Lease, Inc. (NYSE:BNL - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 1,832,982 shares traded hands during mid-day trading, an increase of 73% from the previous session's volume of 1,058,968 shares.The stock last traded at $16.94 and had previously closed at $17.20.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BNL. JMP Securities raised shares of Broadstone Net Lease from a "market perform" rating to an "outperform" rating and set a $21.00 target price on the stock in a report on Tuesday, December 17th. Citizens Jmp raised shares of Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, December 17th. Finally, BMO Capital Markets set a $20.00 price target on Broadstone Net Lease and gave the company an "outperform" rating in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $18.83.

Broadstone Net Lease Trading Down 0.5 %

The company has a 50-day moving average price of $16.31 and a two-hundred day moving average price of $16.99. The stock has a market capitalization of $3.20 billion, a P/E ratio of 19.50 and a beta of 1.09.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.16. The firm had revenue of $112.13 million for the quarter, compared to analyst estimates of $109.80 million. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. Research analysts forecast that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current year.

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Broadstone Net Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 6.84%. The ex-dividend date is Monday, March 31st. Broadstone Net Lease's dividend payout ratio (DPR) is currently 133.33%.

Hedge Funds Weigh In On Broadstone Net Lease

A number of institutional investors and hedge funds have recently made changes to their positions in BNL. Principal Financial Group Inc. raised its stake in Broadstone Net Lease by 1.6% during the 4th quarter. Principal Financial Group Inc. now owns 14,276,250 shares of the company's stock worth $226,423,000 after buying an additional 227,833 shares during the period. Geode Capital Management LLC raised its position in shares of Broadstone Net Lease by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 4,860,444 shares of the company's stock worth $77,103,000 after purchasing an additional 15,501 shares during the period. Centersquare Investment Management LLC lifted its holdings in shares of Broadstone Net Lease by 7.1% in the 4th quarter. Centersquare Investment Management LLC now owns 4,011,419 shares of the company's stock worth $63,621,000 after purchasing an additional 265,428 shares in the last quarter. Aew Capital Management L P grew its position in Broadstone Net Lease by 2.3% in the 4th quarter. Aew Capital Management L P now owns 3,135,949 shares of the company's stock valued at $49,736,000 after purchasing an additional 69,690 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Broadstone Net Lease by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,077,513 shares of the company's stock valued at $48,809,000 after purchasing an additional 71,709 shares during the period. 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.