Broadstone Net Lease, Inc. (NYSE:BNL) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of Broadstone Net Lease, Inc. (NYSE:BNL - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the seven research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $18.67.

A number of equities research analysts have weighed in on BNL shares. Truist Financial raised their price target on Broadstone Net Lease from $17.00 to $18.00 and gave the company a "hold" rating in a research report on Monday, May 5th. UBS Group decreased their price objective on Broadstone Net Lease from $18.00 to $17.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. BMO Capital Markets set a $20.00 target price on Broadstone Net Lease and gave the stock an "outperform" rating in a research report on Monday, March 24th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $21.00 target price on shares of Broadstone Net Lease in a research note on Monday, June 2nd.

Broadstone Net Lease Price Performance

BNL stock opened at $16.34 on Friday. The firm has a 50 day simple moving average of $16.07 and a two-hundred day simple moving average of $16.08. The stock has a market cap of $3.09 billion, a PE ratio of 26.79 and a beta of 1.00. Broadstone Net Lease has a one year low of $13.96 and a one year high of $19.15.

Broadstone Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $0.29 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.16 annualized dividend and a dividend yield of 7.10%. Broadstone Net Lease's dividend payout ratio is currently 190.16%.

Institutional Investors Weigh In On Broadstone Net Lease

Several institutional investors have recently bought and sold shares of BNL. Vanguard Group Inc. lifted its position in Broadstone Net Lease by 1.0% in the first quarter. Vanguard Group Inc. now owns 27,711,994 shares of the company's stock valued at $472,212,000 after purchasing an additional 266,900 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Broadstone Net Lease by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 4,860,444 shares of the company's stock worth $77,103,000 after buying an additional 15,501 shares during the period. Alliancebernstein L.P. raised its holdings in Broadstone Net Lease by 1.1% during the 1st quarter. Alliancebernstein L.P. now owns 4,666,417 shares of the company's stock valued at $79,516,000 after buying an additional 51,754 shares during the last quarter. Centersquare Investment Management LLC raised its holdings in Broadstone Net Lease by 7.1% during the 4th quarter. Centersquare Investment Management LLC now owns 4,011,419 shares of the company's stock valued at $63,621,000 after buying an additional 265,428 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Broadstone Net Lease by 2.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,145,709 shares of the company's stock valued at $53,603,000 after buying an additional 68,196 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

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.

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