Broadstone Net Lease, Inc. (NYSE:BNL) Receives $18.67 Consensus Price Target from Brokerages

Broadstone Net Lease, Inc. (NYSE:BNL - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eight brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $18.67.

Several research analysts have recently commented on the company. UBS Group reduced their target price 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 report on Monday, March 24th. Truist Financial boosted their target price on Broadstone Net Lease from $17.00 to $18.00 and gave the stock a "hold" rating in a report on Monday, May 5th. Finally, JMP Securities reissued a "market outperform" rating and issued a $21.00 target price on shares of Broadstone Net Lease in a report on Monday, May 5th.

Institutional Trading of Broadstone Net Lease

Large investors have recently made changes to their positions in the company. Federated Hermes Inc. increased its position in shares of Broadstone Net Lease by 73,833.3% in the 4th quarter. Federated Hermes Inc. now owns 2,218 shares of the company's stock valued at $35,000 after buying an additional 2,215 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Broadstone Net Lease by 139.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company's stock valued at $43,000 after buying an additional 1,592 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Broadstone Net Lease by 192.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,914 shares of the company's stock valued at $46,000 after buying an additional 1,918 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Broadstone Net Lease in the 4th quarter valued at $54,000. Finally, Quarry LP bought a new stake in shares of Broadstone Net Lease in the 4th quarter valued at $57,000. Institutional investors own 89.07% of the company's stock.

Broadstone Net Lease Stock Performance

NYSE BNL traded down $0.04 during trading on Thursday, reaching $16.11. 1,870,342 shares of the company traded hands, compared to its average volume of 1,184,238. The stock's 50 day moving average price is $16.23 and its two-hundred day moving average price is $16.36. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 18.51 and a beta of 1.04. Broadstone Net Lease has a 1-year low of $13.96 and a 1-year high of $19.15.

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

Broadstone Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.20%. The ex-dividend date is Monday, June 30th. Broadstone Net Lease's dividend payout ratio is currently 190.16%.

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.