Broadstone Net Lease (NYSE:BNL) Price Target Raised to $18.00 at Truist Financial

Broadstone Net Lease (NYSE:BNL) had its price target lifted by Truist Financial from $17.00 to $18.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a hold rating on the stock.

A number of other analysts have also recently commented on BNL. JMP Securities reiterated a “market outperform” rating and set a $21.00 price objective on shares of Broadstone Net Lease in a research report on Monday. BMO Capital Markets set a $20.00 price target on shares of Broadstone Net Lease and gave the stock an “outperform” rating in a report on Monday, March 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $18.83.

Broadstone Net Lease Price Performance

BNL stock opened at $16.03 on Monday. The company’s 50 day simple moving average is $16.37 and its 200-day simple moving average is $16.47. Broadstone Net Lease has a 12 month low of $13.96 and a 12 month high of $19.15. The firm has a market capitalization of $3.03 billion, a PE ratio of 18.43 and a beta of 1.04.

Broadstone Net Lease (NYSE:BNL) last announced its earnings results on Wednesday, February 19th. The company reported $0.36 EPS 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 firm had revenue of $112.13 million for the quarter, compared to analysts’ expectations of $109.80 million. As a group, sell-side analysts anticipate that Broadstone Net Lease will post 1.43 earnings per share for the current year.

Broadstone Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.29 per share. The ex-dividend date is Monday, June 30th. This represents a $1.16 annualized dividend and a dividend yield of 7.24%. Broadstone Net Lease’s payout ratio is currently 190.16%.

Institutional Trading of Broadstone Net Lease

A number of institutional investors and hedge funds have recently made changes to their positions in BNL. Ritholtz Wealth Management raised its holdings in shares of Broadstone Net Lease by 2.8% in the 1st quarter. Ritholtz Wealth Management now owns 24,939 shares of the company’s stock worth $425,000 after purchasing an additional 673 shares during the period. Xponance Inc. increased its position in Broadstone Net Lease by 5.3% during the 1st quarter. Xponance Inc. now owns 14,298 shares of the company’s stock worth $244,000 after purchasing an additional 721 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Broadstone Net Lease by 1.0% in the fourth quarter. State of Alaska Department of Revenue now owns 90,318 shares of the company’s stock valued at $1,432,000 after buying an additional 882 shares during the period. Rockefeller Capital Management L.P. lifted its position in 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 valued at $378,000 after buying an additional 892 shares in the last quarter. Finally, Corient Private Wealth LLC grew its stake in 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 buying an additional 907 shares during the period. 89.07% of the stock is currently 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.