Broadstone Net Lease's (BNL) Market Outperform Rating Reiterated at JMP Securities

JMP Securities restated their market outperform rating on shares of Broadstone Net Lease (NYSE:BNL - Free Report) in a research note published on Monday,Benzinga reports. The firm currently has a $21.00 price target on the stock.

BNL has been the subject of a number of other reports. UBS Group reduced their price objective on shares of Broadstone Net Lease from $18.00 to $17.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. 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 research report on Monday, May 5th. Finally, BMO Capital Markets set a $20.00 price objective on shares of Broadstone Net Lease and gave the stock an "outperform" rating in a research report on Monday, March 24th. One investment 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $18.67.

Broadstone Net Lease Trading Up 0.7%

NYSE:BNL traded up $0.12 during trading hours on Monday, reaching $16.09. 707,213 shares of the company were exchanged, compared to its average volume of 1,261,949. The stock's 50-day moving average is $15.91 and its 200-day moving average is $16.22. The firm has a market cap of $3.04 billion, a PE ratio of 18.48 and a beta of 1.01. Broadstone Net Lease has a twelve month low of $13.96 and a twelve 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. Stockholders 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 7.21%. The ex-dividend date of this dividend is Monday, June 30th. Broadstone Net Lease's dividend payout ratio (DPR) is 190.16%.

Institutional Investors Weigh In On Broadstone Net Lease

A number of hedge funds have recently modified their holdings of BNL. Norges Bank acquired a new stake in Broadstone Net Lease during the fourth quarter worth about $36,170,000. Nuveen LLC acquired a new stake in Broadstone Net Lease during the first quarter worth about $28,127,000. Bank of Montreal Can increased its position in Broadstone Net Lease by 603.9% during the fourth quarter. Bank of Montreal Can now owns 1,891,881 shares of the company's stock worth $30,005,000 after purchasing an additional 1,623,098 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. acquired a new stake in Broadstone Net Lease during the first quarter worth about $11,646,000. Finally, Allianz Asset Management GmbH increased its position in Broadstone Net Lease by 87.3% during the first quarter. Allianz Asset Management GmbH now owns 1,288,892 shares of the company's stock worth $21,963,000 after purchasing an additional 600,633 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.