JMP Securities Reaffirms “Market Outperform” Rating for Broadstone Net Lease (NYSE:BNL)

JMP Securities reissued their market outperform rating on shares of Broadstone Net Lease (NYSE:BNL) in a research note released on Monday morning,Benzinga reports. They currently have a $21.00 target price on the stock.

BNL has been the subject of several other reports. Wolfe Research raised Broadstone Net Lease from a “peer perform” rating to an “outperform” rating and set a $19.00 target price for the company in a research report on Monday, July 28th. KeyCorp upgraded shares of Broadstone Net Lease from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research note on Tuesday, August 19th. UBS Group raised their price objective on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday, August 15th. The Goldman Sachs Group raised shares of Broadstone Net Lease from a “sell” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Thursday, August 21st. Finally, Wall Street Zen lowered shares of Broadstone Net Lease from a “hold” rating to a “sell” rating in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.89.

Broadstone Net Lease Trading Up 2.9%

Shares of BNL stock opened at $18.39 on Monday. Broadstone Net Lease has a 12 month low of $13.96 and a 12 month high of $18.85. The company has a market capitalization of $3.48 billion, a P/E ratio of 35.36 and a beta of 1.00. The stock has a 50 day moving average of $17.64 and a two-hundred day moving average of $16.64.

Broadstone Net Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.29 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.3%. Broadstone Net Lease’s dividend payout ratio (DPR) is 223.08%.

Hedge Funds Weigh In On Broadstone Net Lease

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Two Sigma Advisers LP grew its stake in Broadstone Net Lease by 105.9% during the fourth quarter. Two Sigma Advisers LP now owns 20,800 shares of the company’s stock worth $330,000 after buying an additional 10,700 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Broadstone Net Lease in the 4th quarter worth approximately $198,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Broadstone Net Lease by 1.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 362,398 shares of the company’s stock worth $5,748,000 after acquiring an additional 4,523 shares in the last quarter. GAMMA Investing LLC grew its position in Broadstone Net Lease by 1,466.0% during the 1st quarter. GAMMA Investing LLC now owns 31,711 shares of the company’s stock worth $540,000 after acquiring an additional 29,686 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Broadstone Net Lease during the 1st quarter valued at $375,000. 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.