Broadstone Net Lease, Inc. (NYSE:BNL) Short Interest Down 7.3% in November

Broadstone Net Lease, Inc. (NYSE:BNL) was the recipient of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 3,680,000 shares, a decrease of 7.3% from the October 31st total of 3,970,000 shares. Based on an average trading volume of 1,060,000 shares, the short-interest ratio is presently 3.5 days. Approximately 2.0% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BNL shares. Truist Financial increased their price target on Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Wedbush assumed coverage on Broadstone Net Lease in a report on Monday, August 19th. They issued an “outperform” rating and a $20.00 price target for the company. UBS Group assumed coverage on shares of Broadstone Net Lease in a research note on Thursday, November 14th. They issued a “neutral” rating and a $18.00 target price for the company. Finally, The Goldman Sachs Group raised their price target on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, September 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Broadstone Net Lease has a consensus rating of “Hold” and a consensus target price of $18.20.

Broadstone Net Lease Trading Down 0.6 %

Shares of NYSE:BNL traded down $0.11 during midday trading on Tuesday, hitting $17.17. The company had a trading volume of 1,100,877 shares, compared to its average volume of 1,067,003. Broadstone Net Lease has a 12 month low of $14.20 and a 12 month high of $19.15. The firm has a fifty day simple moving average of $17.91 and a 200 day simple moving average of $17.22. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 22.59 and a beta of 1.10.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The company had revenue of $108.40 million during the quarter, compared to the consensus estimate of $106.47 million. Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.47%. During the same period last year, the company earned $0.36 earnings per share. Equities analysts forecast that Broadstone Net Lease will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 6.76%. The ex-dividend date is Tuesday, December 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 152.63%.

Institutional Investors Weigh In On Broadstone Net Lease

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in shares of Broadstone Net Lease by 257.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $33,000 after purchasing an additional 1,272 shares in the last quarter. Quarry LP lifted its stake in Broadstone Net Lease by 93.1% in the second quarter. Quarry LP now owns 2,556 shares of the company’s stock valued at $41,000 after acquiring an additional 1,232 shares during the last quarter. Blue Trust Inc. grew its position in shares of Broadstone Net Lease by 156.5% in the 3rd quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock valued at $74,000 after acquiring an additional 2,381 shares during the period. US Bancorp DE raised its holdings in shares of Broadstone Net Lease by 636.6% in the 3rd quarter. US Bancorp DE now owns 3,941 shares of the company’s stock valued at $75,000 after purchasing an additional 3,406 shares during the period. Finally, KBC Group NV lifted its stake in Broadstone Net Lease by 29.4% in the 3rd quarter. KBC Group NV now owns 6,220 shares of the company’s stock valued at $118,000 after purchasing an additional 1,413 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

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.