Analysts Set Broadstone Net Lease, Inc. (NYSE:BNL) Price Target at $18.60

Shares of Broadstone Net Lease, Inc. (NYSE:BNL) have earned an average recommendation of “Hold” from the eight research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $18.60.

Several analysts recently weighed in on the stock. UBS Group assumed coverage on shares of Broadstone Net Lease in a report on Thursday, November 14th. They issued a “neutral” rating and a $18.00 price target on the stock. Citizens Jmp upgraded shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Finally, JMP Securities upgraded shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a report on Tuesday, December 17th.

Broadstone Net Lease Stock Performance

Shares of Broadstone Net Lease stock opened at $16.65 on Thursday. Broadstone Net Lease has a 52-week low of $14.20 and a 52-week high of $19.15. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of 19.14 and a beta of 1.11. The company’s 50 day moving average price is $15.79 and its 200-day moving average price is $17.15.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate 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%. As a group, equities research 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, April 15th. Stockholders of record on Monday, March 31st will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 6.97%. The ex-dividend date of this dividend is Monday, March 31st. Broadstone Net Lease’s dividend payout ratio is presently 133.33%.

Hedge Funds Weigh In On Broadstone Net Lease

Hedge funds have recently bought and sold shares of the business. Natixis Advisors LLC grew its stake in shares of Broadstone Net Lease by 63.2% during the 3rd quarter. Natixis Advisors LLC now owns 114,272 shares of the company’s stock valued at $2,165,000 after purchasing an additional 44,264 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Broadstone Net Lease by 30.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 466,782 shares of the company’s stock valued at $7,403,000 after purchasing an additional 108,907 shares during the period. Meritage Portfolio Management bought a new stake in shares of Broadstone Net Lease during the 3rd quarter valued at about $5,610,000. Intech Investment Management LLC bought a new stake in shares of Broadstone Net Lease during the 3rd quarter valued at about $633,000. Finally, Stifel Financial Corp grew its stake in shares of Broadstone Net Lease by 6.5% during the 3rd quarter. Stifel Financial Corp now owns 15,470 shares of the company’s stock valued at $293,000 after purchasing an additional 939 shares during the period. Hedge funds and other institutional investors 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.