Brokerages Set Broadstone Net Lease, Inc. (NYSE:BNL) PT at $18.67

Broadstone Net Lease, Inc. (NYSE:BNL) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $18.67.

A number of equities research analysts have recently commented on the stock. BMO Capital Markets set a $20.00 price objective on shares of Broadstone Net Lease and gave the company an “outperform” rating in a research note on Monday, March 24th. Truist Financial upped their price objective on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Monday, May 5th. UBS Group reduced their price objective on shares of Broadstone Net Lease from $18.00 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $21.00 price objective on shares of Broadstone Net Lease in a research note on Monday, June 2nd.

Broadstone Net Lease Price Performance

BNL opened at $16.32 on Monday. Broadstone Net Lease has a fifty-two week low of $13.96 and a fifty-two week high of $19.15. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 18.75 and a beta of 1.00. The company’s 50 day moving average price is $15.85 and its two-hundred day moving average price is $16.19.

Broadstone Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 7.11%. The ex-dividend date of this dividend is Monday, June 30th. Broadstone Net Lease’s dividend payout ratio is presently 190.16%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Federated Hermes Inc. boosted its stake in Broadstone Net Lease by 73,833.3% during the fourth quarter. Federated Hermes Inc. now owns 2,218 shares of the company’s stock worth $35,000 after acquiring an additional 2,215 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Broadstone Net Lease by 139.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock worth $43,000 after acquiring an additional 1,592 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Broadstone Net Lease by 192.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,914 shares of the company’s stock worth $46,000 after acquiring an additional 1,918 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in Broadstone Net Lease during the fourth quarter worth $54,000. Finally, Quarry LP bought a new position in Broadstone Net Lease during the fourth quarter worth $57,000. 89.07% of the stock is owned by institutional investors.

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.