Broadstone Net Lease, Inc. (NYSE:BNL) Receives $19.43 Consensus Price Target 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 been given an average rating of "Moderate Buy" by the eight research firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $19.4286.

A number of research firms have recently issued reports on BNL. JMP Securities reiterated 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. Wall Street Zen cut shares of Broadstone Net Lease from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. KeyCorp upgraded shares of Broadstone Net Lease from a "sector weight" rating to an "overweight" rating and set a $20.00 price objective for the company in a research report on Tuesday, August 19th. UBS Group upped their price objective on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Friday, August 15th. Finally, Wolfe Research upgraded shares of Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 price objective for the company in a research report on Monday, July 28th.

Broadstone Net Lease Stock Performance

NYSE BNL traded up $0.03 during trading on Friday, reaching $18.41. 1,076,841 shares of the company traded hands, compared to its average volume of 1,804,164. Broadstone Net Lease has a 1-year low of $13.96 and a 1-year high of $19.15. The stock's 50 day moving average price is $16.51 and its two-hundred day moving average price is $16.29. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 35.41 and a beta of 1.00.

Broadstone Net Lease Announces Dividend

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

Institutional Trading of Broadstone Net Lease

A number of large investors have recently made changes to their positions in the company. Orion Porfolio Solutions LLC acquired a new position in Broadstone Net Lease in the 2nd quarter worth $368,000. Thrivent Financial for Lutherans boosted its stake in Broadstone Net Lease by 3.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 574,710 shares of the company's stock worth $9,224,000 after purchasing an additional 17,379 shares during the period. Kestra Investment Management LLC boosted its stake in Broadstone Net Lease by 25.0% in the 2nd quarter. Kestra Investment Management LLC now owns 91,714 shares of the company's stock worth $1,472,000 after purchasing an additional 18,359 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in Broadstone Net Lease by 9.1% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 298,676 shares of the company's stock worth $4,792,000 after purchasing an additional 24,851 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in Broadstone Net Lease by 199.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 22,722 shares of the company's stock worth $365,000 after purchasing an additional 15,133 shares during the period. Institutional investors own 89.07% of the company's stock.

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.