Broadstone Net Lease (NYSE:BNL) Sees Unusually-High Trading Volume – What’s Next?

Broadstone Net Lease, Inc. (NYSE:BNL) saw unusually-strong trading volume on Tuesday . Approximately 1,832,982 shares changed hands during mid-day trading, an increase of 73% from the previous session’s volume of 1,058,968 shares.The stock last traded at $16.94 and had previously closed at $17.20.

Analysts Set New Price Targets

Several analysts recently issued reports 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. JMP Securities upgraded shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $18.60.

Broadstone Net Lease Trading Down 2.2 %

The company has a market capitalization of $3.18 billion, a PE ratio of 19.33 and a beta of 1.09. The stock has a fifty day simple moving average of $16.20 and a 200-day simple moving average of $17.02.

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

Broadstone Net Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 6.90%. The ex-dividend date of this dividend is Monday, March 31st. Broadstone Net Lease’s payout ratio is currently 133.33%.

Institutional Investors Weigh In On Broadstone Net Lease

Several hedge funds have recently made changes to their positions in BNL. Natixis Advisors LLC increased its holdings in shares of Broadstone Net Lease by 63.2% in the third 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. Thrivent Financial for Lutherans acquired a new position in Broadstone Net Lease in the 3rd quarter valued at $3,186,000. Pathstone Holdings LLC raised its position in Broadstone Net Lease by 30.6% during the 3rd quarter. Pathstone Holdings LLC now owns 95,977 shares of the company’s stock worth $1,819,000 after buying an additional 22,461 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Broadstone Net Lease in the 3rd quarter worth $633,000. Finally, Eagle Asset Management Inc. purchased a new stake in shares of Broadstone Net Lease in the third quarter valued at about $4,928,000. Institutional investors and hedge funds 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.