Broadstone Net Lease, Inc. (NYSE:BNL) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Broadstone Net Lease, Inc. has received an average rating of "Moderate Buy" from eight research firms, with price targets ranging from $17.00 to $21.00.
• The company declared a quarterly dividend of $0.29 per share, resulting in an annualized dividend of $1.16 and a yield of 6.4%.
• Institutional investors own 89.07% of Broadstone Net Lease’s stock, with notable increases in holdings from firms like Lazard Asset Management and GAMMA Investing.

Shares of Broadstone Net Lease, Inc. (NYSE:BNL - Get Free Report) have earned an average rating of "Moderate Buy" from the eight research firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $19.4286.

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group upgraded shares of Broadstone Net Lease from a "sell" rating to a "buy" rating and set a $21.00 price objective on the stock in a report on Thursday. Wolfe Research upgraded shares of Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 price objective on the stock in a report on Monday, July 28th. UBS Group upped their price objective on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Friday, August 15th. Truist Financial upped their price objective on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the stock a "hold" rating in a report on Monday, May 5th. Finally, Wall Street Zen cut shares of Broadstone Net Lease from a "hold" rating to a "sell" rating in a report on Friday.

Institutional Investors Weigh In On Broadstone Net Lease

Institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC grew its holdings 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 valued at $1,214,000 after buying an additional 19,467 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Broadstone Net Lease by 1,466.0% in the first quarter. GAMMA Investing LLC now owns 31,711 shares of the company's stock worth $540,000 after purchasing an additional 29,686 shares during the last quarter. Meritage Portfolio Management boosted its holdings in Broadstone Net Lease by 33.9% in the first quarter. Meritage Portfolio Management now owns 386,997 shares of the company's stock worth $6,594,000 after purchasing an additional 97,892 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Broadstone Net Lease by 20.6% in the first quarter. Envestnet Asset Management Inc. now owns 543,987 shares of the company's stock worth $9,270,000 after purchasing an additional 92,909 shares during the last quarter. Finally, KBC Group NV boosted its holdings in Broadstone Net Lease by 15.1% in the first quarter. KBC Group NV now owns 9,094 shares of the company's stock worth $155,000 after purchasing an additional 1,193 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Broadstone Net Lease Price Performance

Shares of NYSE BNL opened at $18.2280 on Friday. Broadstone Net Lease has a 1 year low of $13.96 and a 1 year high of $19.15. The company's 50-day moving average is $16.34 and its 200 day moving average is $16.22. The stock has a market capitalization of $3.45 billion, a P/E ratio of 35.05 and a beta of 1.00.

Broadstone Net Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.29 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.4%. Broadstone Net Lease's dividend payout ratio is presently 223.08%.

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.

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