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

Key Points

• Broadstone Net Lease, Inc. has received a consensus recommendation of "Moderate Buy" from eleven analysts, with an average 1-year price target of $19.89.
• The company recently declared a quarterly dividend of $0.29 per share, representing a 6.4% yield with a high dividend payout ratio of 223.08%.
• Shares of Broadstone Net Lease are currently trading at $18.06 and have shown a 12-month range between $13.96 and $18.85.

Broadstone Net Lease, Inc. (NYSE:BNL - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eleven analysts that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $19.8889.

BNL has been the topic of several recent research reports. KeyCorp upgraded Broadstone Net Lease from a "sector weight" rating to an "overweight" rating and set a $20.00 price objective on the stock in a research report on Tuesday, August 19th. BTIG Research reiterated a "buy" rating and set a $22.00 price objective on shares of Broadstone Net Lease in a research report on Wednesday, October 1st. UBS Group increased their price objective on Broadstone Net Lease from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Friday, August 15th. The Goldman Sachs Group upgraded Broadstone Net Lease from a "sell" rating to a "buy" rating and set a $21.00 price objective on the stock in a research report on Thursday, August 21st. Finally, JMP Securities reiterated a "market outperform" rating and set a $21.00 price objective on shares of Broadstone Net Lease in a research report on Monday, September 29th.

Hedge Funds Weigh In On Broadstone Net Lease

Several institutional investors and hedge funds have recently bought and sold shares of BNL. GAMMA Investing LLC grew its position in Broadstone Net Lease by 1,466.0% during the 1st quarter. GAMMA Investing LLC now owns 31,711 shares of the company's stock worth $540,000 after acquiring an additional 29,686 shares during the last quarter. SG Americas Securities LLC bought a new position in Broadstone Net Lease during the 1st quarter worth approximately $375,000. Ritholtz Wealth Management grew its position in Broadstone Net Lease by 2.8% during the 1st quarter. Ritholtz Wealth Management now owns 24,939 shares of the company's stock worth $425,000 after acquiring an additional 673 shares during the last quarter. Columbus Macro LLC lifted its holdings in Broadstone Net Lease by 7.6% in the 1st quarter. Columbus Macro LLC now owns 425,264 shares of the company's stock worth $7,246,000 after buying an additional 29,993 shares during the period. Finally, QRG Capital Management Inc. lifted its holdings in Broadstone Net Lease by 11.3% in the 1st quarter. QRG Capital Management Inc. now owns 14,078 shares of the company's stock worth $240,000 after buying an additional 1,427 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Broadstone Net Lease Trading Down 1.5%

Shares of Broadstone Net Lease stock opened at $18.06 on Friday. The firm has a market capitalization of $3.42 billion, a PE ratio of 34.73 and a beta of 1.00. The business's 50-day moving average price is $17.98 and its 200-day moving average price is $16.70. Broadstone Net Lease has a 12 month low of $13.96 and a 12 month high of $18.85.

Broadstone Net Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 6.4%. The ex-dividend date is Tuesday, September 30th. Broadstone Net Lease's dividend payout ratio (DPR) is presently 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.

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