Broadstone Net Lease, Inc. (NYSE:BNL) Short Interest Up 58.6% in February

Broadstone Net Lease, Inc. (NYSE:BNL) was the target of a large increase in short interest in February. As of February 15th, there was short interest totalling 4,250,000 shares, an increase of 58.6% from the January 31st total of 2,680,000 shares. Based on an average daily volume of 1,060,000 shares, the short-interest ratio is currently 4.0 days. Approximately 2.3% of the shares of the stock are short sold.

Institutional Investors Weigh In On Broadstone Net Lease

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BNL. Norges Bank purchased a new stake in Broadstone Net Lease during the 4th quarter worth $36,170,000. Bank of Montreal Can increased its position in shares of Broadstone Net Lease by 603.9% in the 4th quarter. Bank of Montreal Can now owns 1,891,881 shares of the company’s stock worth $30,005,000 after purchasing an additional 1,623,098 shares during the last quarter. Brookfield Corp ON bought a new stake in shares of Broadstone Net Lease in the 3rd quarter worth about $18,444,000. Wellington Management Group LLP bought a new stake in shares of Broadstone Net Lease in the 3rd quarter worth about $12,574,000. Finally, Systematic Financial Management LP increased its position in shares of Broadstone Net Lease by 298.1% in the 3rd quarter. Systematic Financial Management LP now owns 747,706 shares of the company’s stock worth $14,169,000 after purchasing an additional 559,906 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

BNL has been the topic of a number of analyst reports. JMP Securities upgraded shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Tuesday, December 17th. UBS Group initiated coverage on shares of Broadstone Net Lease in a research report on Thursday, November 14th. They set a “neutral” rating and a $18.00 target price on the stock. Finally, Citizens Jmp upgraded shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $18.60.

Broadstone Net Lease Trading Up 0.1 %

Shares of BNL traded up $0.01 during mid-day trading on Friday, reaching $16.82. The company had a trading volume of 1,476,982 shares, compared to its average volume of 1,074,538. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of 19.33 and a beta of 1.11. The firm has a fifty day simple moving average of $15.82 and a 200-day simple moving average of $17.15. 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 posted its earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.16. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. The business had revenue of $112.13 million for the quarter, compared to analyst estimates of $109.80 million. As a group, equities analysts predict that Broadstone Net Lease will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 6.90%. The ex-dividend date of this dividend is Monday, March 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is 133.33%.

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.