Broadstone Net Lease (NYSE:BNL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Broadstone Net Lease (NYSE:BNL) from a sell rating to a hold rating in a research note released on Sunday morning.

Several other equities research analysts also recently weighed in on BNL. JMP Securities reissued a “market outperform” rating and issued a $21.00 price target on shares of Broadstone Net Lease in a report on Monday, June 2nd. Wolfe Research raised shares of Broadstone Net Lease from a “peer perform” rating to an “outperform” rating and set a $19.00 price objective for the company in a research report on Monday, July 28th. UBS Group dropped their target price on shares of Broadstone Net Lease from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 16th. Finally, Truist Financial upped their price target 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.57.

Broadstone Net Lease Price Performance

Shares of BNL stock opened at $16.87 on Friday. The stock’s fifty day moving average price is $16.11 and its 200 day moving average price is $16.12. Broadstone Net Lease has a 1-year low of $13.96 and a 1-year high of $19.15. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 32.44 and a beta of 1.00.

Broadstone Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.9%. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 223.08%.

Hedge Funds Weigh In On Broadstone Net Lease

Several institutional investors have recently made changes to their positions in BNL. Federated Hermes Inc. increased its holdings in Broadstone Net Lease by 73,833.3% in the fourth quarter. Federated Hermes Inc. now owns 2,218 shares of the company’s stock valued at $35,000 after buying an additional 2,215 shares in the last quarter. Wolff Wiese Magana LLC acquired a new stake in Broadstone Net Lease in the 2nd quarter worth about $45,000. Tower Research Capital LLC TRC raised its holdings in shares of 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 valued at $46,000 after acquiring an additional 1,918 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Broadstone Net Lease during the fourth quarter valued at approximately $54,000. Finally, Quarry LP purchased a new position in shares of Broadstone Net Lease in the fourth quarter valued at approximately $57,000. 89.07% of the stock is 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.