Broadstone Net Lease, Inc. (NYSE:BNL) Receives $18.67 Average PT from Analysts

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

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Ritholtz Wealth Management increased its holdings in Broadstone Net Lease by 2.8% in the first quarter. Ritholtz Wealth Management now owns 24,939 shares of the company's stock valued at $425,000 after buying an additional 673 shares in the last quarter. Xponance Inc. increased its holdings in Broadstone Net Lease by 5.3% in the first quarter. Xponance Inc. now owns 14,298 shares of the company's stock valued at $244,000 after buying an additional 721 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in Broadstone Net Lease by 3.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 23,826 shares of the company's stock valued at $378,000 after buying an additional 892 shares in the last quarter. Corient Private Wealth LLC increased its holdings in Broadstone Net Lease by 2.2% in the fourth quarter. Corient Private Wealth LLC now owns 41,892 shares of the company's stock valued at $664,000 after buying an additional 907 shares in the last quarter. Finally, Summit Investment Advisors Inc. increased its holdings in Broadstone Net Lease by 5.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 19,735 shares of the company's stock valued at $313,000 after buying an additional 975 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Broadstone Net Lease Stock Performance

NYSE BNL traded down $0.31 during trading hours on Friday, hitting $16.03. The company had a trading volume of 1,172,391 shares, compared to its average volume of 1,290,132. Broadstone Net Lease has a 1-year low of $13.96 and a 1-year high of $19.15. The company has a market cap of $3.03 billion, a PE ratio of 26.28 and a beta of 1.00. The business has a 50 day moving average of $16.08 and a 200-day moving average of $16.08.

Broadstone Net Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.29 per share. The ex-dividend date is Monday, June 30th. This represents a $1.16 annualized dividend and a yield of 7.24%. Broadstone Net Lease's dividend payout ratio is currently 190.16%.

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.