Broadstone Net Lease (NYSE:BNL) Earns Neutral Rating from Analysts at UBS Group

UBS Group initiated coverage on shares of Broadstone Net Lease (NYSE:BNL) in a research note published on Thursday, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $18.00 price target on the stock.

Several other equities research analysts have also recently weighed in on the stock. Truist Financial upped their price target on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. The Goldman Sachs Group increased their target price on Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a research report on Friday, September 13th. Finally, Wedbush began coverage on Broadstone Net Lease in a research report on Monday, August 19th. They issued an “outperform” rating and a $20.00 price target for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Broadstone Net Lease currently has a consensus rating of “Hold” and an average price target of $18.20.

Broadstone Net Lease Stock Performance

Broadstone Net Lease stock opened at $17.20 on Thursday. The company has a market capitalization of $3.24 billion, a PE ratio of 22.63 and a beta of 1.12. The company has a 50 day moving average price of $18.19 and a 200-day moving average price of $17.07. Broadstone Net Lease has a fifty-two week low of $14.20 and a fifty-two week high of $19.15.

Broadstone Net Lease (NYSE:BNL) last issued its earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.15). The firm had revenue of $108.40 million during the quarter, compared to analysts’ expectations of $106.47 million. Broadstone Net Lease had a return on equity of 4.47% and a net margin of 33.56%. During the same quarter in the prior year, the company posted $0.36 earnings per share. On average, analysts forecast that Broadstone Net Lease will post 1.39 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.29 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.74%. Broadstone Net Lease’s payout ratio is 152.63%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC grew its stake in shares of Broadstone Net Lease by 709.4% during the second quarter. Millennium Management LLC now owns 3,177,459 shares of the company’s stock worth $50,426,000 after acquiring an additional 2,784,878 shares during the last quarter. V3 Capital Management L.P. purchased a new stake in Broadstone Net Lease during the 1st quarter worth approximately $20,747,000. Lasalle Investment Management Securities LLC purchased a new stake in Broadstone Net Lease during the 1st quarter worth approximately $18,226,000. Victory Capital Management Inc. increased its stake in Broadstone Net Lease by 2,302.8% during the 2nd quarter. Victory Capital Management Inc. now owns 1,073,735 shares of the company’s stock valued at $17,040,000 after purchasing an additional 1,029,048 shares in the last quarter. Finally, Brookfield Corp ON acquired a new stake in shares of Broadstone Net Lease during the third quarter worth $18,444,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

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.