Brokerages Set Broadstone Net Lease, Inc. (NYSE:BNL) Target Price at $18.67

Broadstone Net Lease, Inc. (NYSE:BNL - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eight ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $18.67.

BNL has been the topic of several research reports. BMO Capital Markets set a $20.00 price target on shares of Broadstone Net Lease and gave the company an "outperform" rating in a report on Monday, March 24th. JMP Securities reaffirmed a "market outperform" rating and set a $21.00 price target on shares of Broadstone Net Lease in a report on Monday, June 2nd. Truist Financial lifted their price target on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the company a "hold" rating in a report on Monday, May 5th. Finally, UBS Group reduced their target price on shares of Broadstone Net Lease from $18.00 to $17.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th.

Institutional Investors Weigh In On Broadstone Net Lease

Institutional investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. grew its holdings in Broadstone Net Lease by 3.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 23,826 shares of the company's stock worth $378,000 after acquiring an additional 892 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Broadstone Net Lease by 34.1% during the fourth quarter. Lazard Asset Management LLC now owns 76,592 shares of the company's stock worth $1,214,000 after buying an additional 19,467 shares during the period. Aew Capital Management L P increased its position in shares of Broadstone Net Lease by 2.3% during the fourth quarter. Aew Capital Management L P now owns 3,135,949 shares of the company's stock worth $49,736,000 after buying an additional 69,690 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Broadstone Net Lease by 79.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 44,955 shares of the company's stock worth $705,000 after buying an additional 19,839 shares during the period. Finally, Bank of America Corp DE increased its position in shares of Broadstone Net Lease by 161.0% during the fourth quarter. Bank of America Corp DE now owns 761,471 shares of the company's stock worth $12,077,000 after buying an additional 469,733 shares during the period. 89.07% of the stock is owned by institutional investors.

Broadstone Net Lease Stock Performance

Shares of Broadstone Net Lease stock traded up $0.04 during midday trading on Monday, hitting $16.32. 1,118,367 shares of the company traded hands, compared to its average volume of 1,265,139. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 18.75 and a beta of 1.00. The firm's fifty day moving average price is $15.85 and its 200-day moving average price is $16.19. Broadstone Net Lease has a 12 month low of $13.96 and a 12 month high of $19.15.

Broadstone Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 7.11%. The ex-dividend date of this dividend is Monday, June 30th. Broadstone Net Lease's payout ratio is 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.