Broadstone Net Lease, Inc. (NYSE:BNL) Short Interest Update

Broadstone Net Lease, Inc. (NYSE:BNL) saw a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 3,680,000 shares, a decrease of 7.3% from the October 31st total of 3,970,000 shares. Currently, 2.0% of the company’s stock are sold short. Based on an average trading volume of 1,060,000 shares, the short-interest ratio is presently 3.5 days.

Wall Street Analysts Forecast Growth

BNL has been the subject of a number of research analyst reports. Truist Financial raised their price target on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Friday, August 16th. UBS Group started coverage on Broadstone Net Lease in a research report on Thursday, November 14th. They issued a “neutral” rating and a $18.00 target price on the stock. The Goldman Sachs Group lifted their price objective on Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Friday, September 13th. Finally, Wedbush assumed coverage on Broadstone Net Lease in a report on Monday, August 19th. They issued an “outperform” rating and a $20.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Broadstone Net Lease presently has a consensus rating of “Hold” and an average price target of $18.20.

Broadstone Net Lease Stock Performance

NYSE:BNL traded down $0.11 during mid-day trading on Tuesday, reaching $17.17. The stock had a trading volume of 1,100,877 shares, compared to its average volume of 1,067,003. The business has a 50 day simple moving average of $17.91 and a 200 day simple moving average of $17.22. Broadstone Net Lease has a twelve month low of $14.20 and a twelve month high of $19.15. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 22.59 and a beta of 1.10.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.15). Broadstone Net Lease had a return on equity of 4.47% and a net margin of 33.56%. The company had revenue of $108.40 million for the quarter, compared to analyst estimates of $106.47 million. During the same period last year, the company posted $0.36 EPS. As a group, sell-side analysts expect that Broadstone Net Lease will post 1.39 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 6.76%. The ex-dividend date of this dividend is Tuesday, December 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 152.63%.

Institutional Investors Weigh In On Broadstone Net Lease

Several large investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in Broadstone Net Lease by 257.5% in the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $33,000 after purchasing an additional 1,272 shares during the period. Quarry LP increased its holdings in Broadstone Net Lease by 93.1% in the second quarter. Quarry LP now owns 2,556 shares of the company’s stock worth $41,000 after buying an additional 1,232 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Broadstone Net Lease by 156.5% during the 3rd quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock valued at $74,000 after acquiring an additional 2,381 shares during the last quarter. US Bancorp DE boosted its holdings in Broadstone Net Lease by 636.6% during the third quarter. US Bancorp DE now owns 3,941 shares of the company’s stock valued at $75,000 after acquiring an additional 3,406 shares during the period. Finally, KBC Group NV raised its stake in Broadstone Net Lease by 29.4% during the 3rd quarter. KBC Group NV now owns 6,220 shares of the company’s stock valued at $118,000 after purchasing an additional 1,413 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

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.