Broadstone Net Lease (NYSE:BNL) Given New $18.00 Price Target at Truist Financial

Broadstone Net Lease (NYSE:BNL - Free Report) had its price objective upped by Truist Financial from $17.00 to $18.00 in a research report sent to investors on Monday,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Other analysts have also issued research reports about the company. JMP Securities reaffirmed a "market outperform" rating and issued a $21.00 price target on shares of Broadstone Net Lease in a research note on Monday, May 5th. 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 note on Monday, March 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $18.83.

Broadstone Net Lease Stock Up 0.3 %

Shares of BNL stock traded up $0.05 during mid-day trading on Monday, reaching $16.33. The stock had a trading volume of 804,857 shares, compared to its average volume of 1,176,019. Broadstone Net Lease has a one year low of $13.96 and a one year high of $19.15. The firm has a market cap of $3.08 billion, a PE ratio of 18.77 and a beta of 1.04. The firm's 50 day simple moving average is $16.32 and its 200 day simple moving average is $16.44.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.16. The business had revenue of $112.13 million for the quarter, compared to analysts' expectations of $109.80 million. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. Sell-side analysts forecast that Broadstone Net Lease will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.10%. The ex-dividend date is Monday, June 30th. Broadstone Net Lease's dividend payout ratio is currently 190.16%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BNL. Ritholtz Wealth Management raised its position in shares of Broadstone Net Lease by 2.8% during the first 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. Xponance Inc. raised its holdings in Broadstone Net Lease by 5.3% during the 1st quarter. Xponance Inc. now owns 14,298 shares of the company's stock worth $244,000 after purchasing an additional 721 shares during the last quarter. State of Alaska Department of Revenue lifted its position in Broadstone Net Lease by 1.0% during the 4th quarter. State of Alaska Department of Revenue now owns 90,318 shares of the company's stock valued at $1,432,000 after purchasing an additional 882 shares during the period. Rockefeller Capital Management L.P. boosted its stake in shares of Broadstone Net Lease by 3.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 23,826 shares of the company's stock valued at $378,000 after purchasing an additional 892 shares during the last quarter. Finally, Corient Private Wealth LLC grew its position in shares of Broadstone Net Lease by 2.2% during the 4th quarter. Corient Private Wealth LLC now owns 41,892 shares of the company's stock worth $664,000 after buying an additional 907 shares during the period. Institutional investors and hedge funds 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.