Broadstone Net Lease, Inc. (NYSE:BNL - Get Free Report) saw unusually-high trading volume on Monday . Approximately 4,125,466 shares were traded during trading, an increase of 229% from the previous session's volume of 1,252,294 shares.The stock last traded at $16.02 and had previously closed at $15.91.
Analysts Set New Price Targets
BNL has been the subject of a number of research reports. BMO Capital Markets set a $20.00 target price on Broadstone Net Lease and gave the stock an "outperform" rating in a report on Monday, March 24th. UBS Group decreased their target price on Broadstone Net Lease from $18.00 to $17.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. JMP Securities reiterated a "market outperform" rating and set a $21.00 target price on shares of Broadstone Net Lease in a report on Monday. Finally, Truist Financial boosted their target price on Broadstone Net Lease from $17.00 to $18.00 and gave the stock a "hold" rating in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $18.67.
Check Out Our Latest Report on Broadstone Net Lease
Broadstone Net Lease Stock Performance
The stock has a market cap of $3.02 billion, a PE ratio of 18.36 and a beta of 1.01. The stock has a fifty day simple moving average of $15.91 and a two-hundred day simple moving average of $16.22.
Broadstone Net Lease Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders 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 yield of 7.26%. The ex-dividend date is Monday, June 30th. Broadstone Net Lease's dividend payout ratio is presently 190.16%.
Hedge Funds Weigh In On Broadstone Net Lease
Institutional investors and hedge funds have recently bought and sold shares of the stock. Ritholtz Wealth Management raised its position in shares of Broadstone Net Lease by 2.8% in the 1st quarter. Ritholtz Wealth Management now owns 24,939 shares of the company's stock valued at $425,000 after purchasing an additional 673 shares in the last quarter. Xponance Inc. raised its position in shares of Broadstone Net Lease by 5.3% in the 1st quarter. Xponance Inc. now owns 14,298 shares of the company's stock valued at $244,000 after purchasing an additional 721 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Broadstone Net Lease by 1.0% in 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 in the last quarter. Rockefeller Capital Management L.P. raised its position 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 in the last quarter. Finally, Corient Private Wealth LLC raised its position in shares of Broadstone Net Lease by 2.2% in the 4th quarter. Corient Private Wealth LLC now owns 41,892 shares of the company's stock valued at $664,000 after purchasing an additional 907 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.
About Broadstone Net Lease
(
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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