Broadstone Net Lease (NYSE:BNL) Given New $16.00 Price Target at UBS Group

Broadstone Net Lease (NYSE:BNL - Free Report) had its price target lowered by UBS Group from $17.00 to $16.00 in a report published on Wednesday morning,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Several other research analysts have also recently commented on the company. JMP Securities reaffirmed a "market outperform" rating and issued a $21.00 target price on shares of Broadstone Net Lease in a research report on Monday, June 2nd. BMO Capital Markets set a $20.00 price target on Broadstone Net Lease and gave the company an "outperform" rating in a report on Monday, March 24th. Finally, Truist Financial lifted their price target on Broadstone Net Lease from $17.00 to $18.00 and gave the company a "hold" rating in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $18.50.

Broadstone Net Lease Stock Up 0.2%

BNL stock traded up $0.03 during midday trading on Wednesday, hitting $15.78. 1,732,696 shares of the company traded hands, compared to its average volume of 1,301,622. The business has a 50 day simple moving average of $16.04 and a 200-day simple moving average of $16.07. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 25.87 and a beta of 1.00. Broadstone Net Lease has a twelve month low of $13.96 and a twelve month high of $19.15.

Broadstone Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 7.35%. The ex-dividend date was Monday, June 30th. Broadstone Net Lease's dividend payout ratio is 190.16%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BNL. Norges Bank acquired a new stake in shares of Broadstone Net Lease during the 4th quarter worth $36,170,000. Nuveen LLC acquired a new stake in Broadstone Net Lease in the first quarter valued at about $28,127,000. Bank of Montreal Can boosted its stake 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 buying an additional 1,623,098 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. acquired a new stake in Broadstone Net Lease in the first quarter valued at about $11,646,000. Finally, Allianz Asset Management GmbH boosted its stake in Broadstone Net Lease by 87.3% in the first quarter. Allianz Asset Management GmbH now owns 1,288,892 shares of the company's stock valued at $21,963,000 after buying an additional 600,633 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

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.