Broadstone Net Lease, Inc. (NYSE:BNL - Get Free Report)'s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $13.96 and last traded at $14.45, with a volume of 530878 shares. The stock had previously closed at $14.72.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the stock. Citizens Jmp upgraded shares of Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a report on Tuesday, December 17th. BMO Capital Markets set a $20.00 price objective on Broadstone Net Lease and gave the company an "outperform" rating in a research report on Monday, March 24th. Finally, JMP Securities upgraded Broadstone Net Lease from a "market perform" rating to an "outperform" rating and set a $21.00 price objective for the company in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Broadstone Net Lease currently has a consensus rating of "Moderate Buy" and an average price target of $18.83.
Check Out Our Latest Research Report on Broadstone Net Lease
Broadstone Net Lease Stock Performance
The firm has a 50-day moving average of $16.29 and a 200-day moving average of $16.75. The firm has a market capitalization of $2.92 billion, a P/E ratio of 17.76 and a beta of 1.03.
Broadstone Net Lease (NYSE:BNL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.16. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. The firm had revenue of $112.13 million for the quarter, compared to the consensus estimate of $109.80 million. On average, research analysts forecast that Broadstone Net Lease, Inc. will post 1.43 EPS for the current fiscal year.
Broadstone Net Lease Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.29 per share. The ex-dividend date is Monday, March 31st. This represents a $1.16 annualized dividend and a dividend yield of 7.51%. Broadstone Net Lease's payout ratio is 133.33%.
Institutional Investors Weigh In On Broadstone Net Lease
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Broadstone Net Lease in the 4th quarter worth $36,170,000. Bank of Montreal Can lifted its holdings in Broadstone Net Lease by 603.9% in the fourth quarter. Bank of Montreal Can now owns 1,891,881 shares of the company's stock valued at $30,005,000 after acquiring an additional 1,623,098 shares during the period. Wellington Management Group LLP purchased a new position in Broadstone Net Lease in the third quarter worth about $12,574,000. Lighthouse Investment Partners LLC bought a new stake in shares of Broadstone Net Lease during the 4th quarter valued at about $7,771,000. Finally, Bank of America Corp DE grew its stake in shares of Broadstone Net Lease by 161.0% during the 4th quarter. Bank of America Corp DE now owns 761,471 shares of the company's stock valued at $12,077,000 after purchasing an additional 469,733 shares during the period. Hedge funds and other institutional investors own 89.07% of the company's stock.
Broadstone Net Lease Company Profile
(
Get Free Report)
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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