Broadstone Net Lease, Inc. (NYSE:BNL) Receives $19.43 Consensus Target Price from Brokerages

Key Points

• Broadstone Net Lease, Inc. has received an average rating of "Moderate Buy" from analysts, with an average 12-month price target of $19.43.
• Institutional investors own 89.07% of Broadstone Net Lease, with Vanguard and State Street increasing their holdings by 1.0% and 2.2% respectively in recent quarters.
• The company announced a quarterly dividend of $0.29 per share, representing an annualized yield of 6.3% and a payout ratio of 223.08%.

Broadstone Net Lease, Inc. (NYSE:BNL - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eight research firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $19.4286.

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group raised shares of Broadstone Net Lease from a "sell" rating to a "buy" rating and set a $21.00 price objective for the company in a research report on Thursday, August 21st. UBS Group upped their target price on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Friday, August 15th. Wolfe Research upgraded shares of Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 target price for the company in a research note on Monday, July 28th. KeyCorp upgraded shares of Broadstone Net Lease from a "sector weight" rating to an "overweight" rating and set a $20.00 target price for the company in a research note on Tuesday, August 19th. Finally, JMP Securities restated 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.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Wolff Wiese Magana LLC bought a new position in Broadstone Net Lease during the 2nd quarter valued at $45,000. GF Fund Management CO. LTD. bought a new position in Broadstone Net Lease during the 4th quarter valued at $54,000. EverSource Wealth Advisors LLC boosted its stake in Broadstone Net Lease by 80.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,261 shares of the company's stock valued at $68,000 after acquiring an additional 1,906 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in Broadstone Net Lease during the 1st quarter valued at $115,000. Finally, CWM LLC boosted its stake in Broadstone Net Lease by 885.2% during the 2nd quarter. CWM LLC now owns 7,773 shares of the company's stock valued at $125,000 after acquiring an additional 6,984 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Broadstone Net Lease Stock Down 1.2%

Shares of Broadstone Net Lease stock traded down $0.22 during trading hours on Wednesday, hitting $18.33. The company's stock had a trading volume of 2,736,612 shares, compared to its average volume of 1,364,748. Broadstone Net Lease has a 1-year low of $13.96 and a 1-year high of $19.15. The business has a fifty day moving average of $17.28 and a 200 day moving average of $16.57. The company has a market capitalization of $3.47 billion, a PE ratio of 35.25 and a beta of 1.01.

Broadstone Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date is Tuesday, September 30th. Broadstone Net Lease's dividend payout ratio is 223.08%.

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.