Broadstone Net Lease, Inc. (NYSE:BNL) Given Consensus Rating of “Moderate Buy” by Brokerages

Broadstone Net Lease, Inc. (NYSE:BNL) has received an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $18.83.

Separately, BMO Capital Markets set a $20.00 price target on shares of Broadstone Net Lease and gave the stock an “outperform” rating in a research report on Monday, March 24th.

Broadstone Net Lease Stock Performance

Shares of BNL stock opened at $16.09 on Friday. The firm has a market cap of $3.04 billion, a P/E ratio of 18.49 and a beta of 1.03. The firm’s 50 day moving average price is $16.32 and its 200-day moving average price is $16.66. Broadstone Net Lease has a one year low of $13.96 and a one year high of $19.15.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings data 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. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. The business had revenue of $112.13 million during the quarter, compared to analysts’ expectations of $109.80 million. As a group, research analysts predict that Broadstone Net Lease will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 7.21%. The ex-dividend date was Monday, March 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 133.33%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Ritholtz Wealth Management increased its stake in Broadstone Net Lease by 2.8% in the first quarter. Ritholtz Wealth Management now owns 24,939 shares of the company’s stock valued at $425,000 after purchasing an additional 673 shares during the last quarter. State of Alaska Department of Revenue raised its stake 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 worth $1,432,000 after acquiring an additional 882 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of Broadstone Net Lease by 3.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 23,826 shares of the company’s stock worth $378,000 after purchasing an additional 892 shares during the last quarter. Corient Private Wealth LLC increased its position in shares of Broadstone Net Lease by 2.2% during the fourth quarter. Corient Private Wealth LLC now owns 41,892 shares of the company’s stock worth $664,000 after purchasing an additional 907 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Broadstone Net Lease by 23.7% in the 4th quarter. Blue Trust Inc. now owns 4,827 shares of the company’s stock valued at $77,000 after purchasing an additional 925 shares during the last quarter. 89.07% of the stock is 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.