Broadstone Net Lease (NYSE:BNL) Rating Increased to Strong-Buy at Citizens Jmp

Citizens Jmp upgraded shares of Broadstone Net Lease (NYSE:BNL - Free Report) from a hold rating to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports.

A number of other research analysts have also weighed in on BNL. The Goldman Sachs Group raised their price objective on Broadstone Net Lease from $14.50 to $16.00 and gave the company a "sell" rating in a report on Friday, September 13th. 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 target price for the company. 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 report on Tuesday. Finally, Wedbush initiated coverage on shares of Broadstone Net Lease in a report on Monday, August 19th. They issued an "outperform" rating and a $20.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Broadstone Net Lease has a consensus rating of "Hold" and a consensus target price of $18.67.

Broadstone Net Lease Stock Performance

Shares of BNL stock traded down $0.61 on Tuesday, reaching $16.16. 2,065,657 shares of the company were exchanged, compared to its average volume of 1,148,329. 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 $17.58 and a 200 day moving average price of $17.35. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 21.26 and a beta of 1.10.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.15). The firm had revenue of $108.40 million for the quarter, compared to analysts' expectations 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 quarter last year, the firm posted $0.36 earnings per share. As a group, equities analysts anticipate that Broadstone Net Lease will post 1.39 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.29 dividend. 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 7.18%. Broadstone Net Lease's payout ratio is currently 152.63%.

Institutional Investors Weigh In On Broadstone Net Lease

A number of institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. boosted its position in shares of Broadstone Net Lease by 66.8% during the 3rd quarter. Franklin Resources Inc. now owns 574,124 shares of the company's stock worth $10,512,000 after purchasing an additional 229,874 shares during the period. Geode Capital Management LLC lifted its stake in Broadstone Net Lease by 1.3% during the third quarter. Geode Capital Management LLC now owns 4,844,943 shares of the company's stock worth $91,827,000 after purchasing an additional 62,515 shares in the last quarter. Barclays PLC boosted its position in shares of Broadstone Net Lease by 131.1% during the third quarter. Barclays PLC now owns 318,142 shares of the company's stock worth $6,028,000 after buying an additional 180,456 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of 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 buying an additional 2,387 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of Broadstone Net Lease in the 3rd quarter valued at $348,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.