Broadstone Net Lease, Inc. (NYSE:BNL) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Broadstone Net Lease, Inc. (NYSE:BNL) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $18.67.

A number of equities research analysts have recently weighed in on BNL shares. JMP Securities reiterated a “market outperform” rating and issued a $21.00 price target on shares of Broadstone Net Lease in a report on Monday, June 2nd. BMO Capital Markets set a $20.00 price target on Broadstone Net Lease and gave the company an “outperform” rating in a research report on Monday, March 24th. UBS Group decreased their price target on shares of Broadstone Net Lease from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Finally, Truist Financial lifted their target price 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.

Broadstone Net Lease Price Performance

NYSE:BNL opened at $16.11 on Monday. The firm has a 50-day moving average of $15.90 and a two-hundred day moving average of $16.17. The stock has a market cap of $3.05 billion, a P/E ratio of 18.51 and a beta of 1.00. Broadstone Net Lease has a 1-year low of $13.96 and a 1-year high of $19.15.

Broadstone Net Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.16 dividend on an annualized basis and a yield of 7.20%. Broadstone Net Lease’s dividend payout ratio is currently 190.16%.

Hedge Funds Weigh In On Broadstone Net Lease

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tallon Kerry Patrick bought a new position in Broadstone Net Lease in the 4th quarter valued at $4,669,000. abrdn plc increased its position in shares of Broadstone Net Lease by 30.6% during the 4th quarter. abrdn plc now owns 49,182 shares of the company’s stock worth $783,000 after purchasing an additional 11,527 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Broadstone Net Lease by 1.0% during the 4th quarter. State of Alaska Department of Revenue now owns 90,318 shares of the company’s stock worth $1,432,000 after buying an additional 882 shares during the period. Global Wealth Management Investment Advisory Inc. acquired a new position in Broadstone Net Lease in the 4th quarter valued at about $196,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in Broadstone Net Lease by 79.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 44,955 shares of the company’s stock valued at $705,000 after acquiring an additional 19,839 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.