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Broadstone Net Lease, Inc. (BNL)

NYSE - NYSE Delayed Price. Currency in USD
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18.33+0.07 (+0.38%)
At close: 4:00PM EST

18.33 0.00 (0.00%)
After hours: 4:15PM EST

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  • m
    mike
    Looks like I was right.
    Bullish
  • R
    Russ
    Investors should look long and hard at this company and the management team before investing money here:

    1) The pre-IPO investors in this business bought in at $82 a share. The price was clearly over inflated based on the IPO price. Pre-IPO investors only received 4 IPO shares at $17 for their investment or $68 in total vs the pre IPO price of $82 a share, or 17% less. Was this management team over valuing their commercial real estate assets pre IPO to raise money? Sure seems like it. At no point during the IPO process were investors informed of a $68 valuation until the IPO launched. I believe pre IPO investors are now locked from selling sharers until March 2021

    2) It looks like that the Directors and Management team are now handing out $0.00 cost stock grants as executive compensation, basically free stock for failure. I do not see any of the Directors or Management team investing any of their own money (yet ?) in the company stock but rather issuing "compensation" shares that should have been allocated back to the pre IPO investors based on the pre IPO share price of $82 to make them whole.

    Be careful here....
  • R
    Russ
    The Board and Executive team of this company has completely underestimated the anger within the pre-IPO shareholders that exists based on a botched stock offering during a pandemic driving valuation down 17% overnight. Locking investors up for 6 months from selling was wrong. They purposely did this in effort to try to get the stock to $20.50 by March 2021 and calm pre-IPO shareholders frustrations by achieving pre IPO valuations. This would also result in hitting their free Executive stock grant targets to get out. They have no plans or have communicated nothing to accomplish this. This will result in pushing shares lower as the pre-IPO investors are all looking to get out in March 2021 and invest in something that can bring real value !

    There is no trust between the Executive Management Team, board and long term investors here.
  • D
    David
    This is tough to stomach as a long term shareholder who has been loyal investor. They went IPO and raised capital ($17 times 4=$68) at a price 10% lower than they raised capital from us almost 6 years ago. Clearly the valuation by the board all these years has been materially off and we overpaid all these years. Not certain I can think of any IPO where capital is raised at a price 10% lower than where long term shareholders invested. Long term investors were thrown under the bus.
  • D
    David
    The Board had several chances to adjust valuation due to COVID. They did adjust earlier in the year post COVID for a bankruptcy of one of their largest tenants. The reason I invested in this private company was based on their integrity and supposedly conservative valuation methodology. Raising capital 6 years ago at a price 10% higher than IPO price and 20% higher than last time they raised capital from long term shareholders is wrong on many levels. There is a back story here why they did this in the middle of a pandemic. Someone did well in this but certainly not loyal, long term shareholders. I believed in this company, shame on me.
  • Y
    Yahoo Finance Insights
    BNL reached an all time high at 18.15
  • Y
    Yahoo Finance Insights
    BNL reached an all time high at 17.62
  • C
    Charles
    I feel that the leadership team that took this REIT public needs to be investigated. The share price that they told investors the fund was valued at prior to the IPO was $83 / share. At the IPO, each investor was awarded 4 post IPO-shares for each pre-IPO share. The IPO went off at the bottom end of the $17-$19 range (what a surprise when you IPO during a commercial real estate crisis), which, according to my math is $68 / share ($17 x 4 = $68) or 18% less than what they told investors that their shares were worth. This feels a little Bennie Madoff to me, so I hope the SEC or AG does an investigation. I am sure their executive team has made a lot of money on the IPO.
    Bearish
  • Y
    Yahoo Finance Insights
    BNL reached an all time high at 17.28
  • J
    JIMW
    the dividend is more like 3.26 % - still not bad. net lease is good area to be in. solid company will do find in the future. good entry point now.
  • m
    mike
    If you think the price is “too low” buy more. With a 6% dividend what’s not to like?
    Bullish
  • s
    stocktargetadvisor
    $BNL
    Initiated by JPMorgan Chase Overweight USD 20
    Initiated by Truist Buy USD 19
    Initiated by Goldman Sachs Buy USD 24
    Initiates Coverage On Truist Securities Buy USD 19
    Initiates Coverage On BTIG Research Buy USD 20
    Initiated by BMO Capital Markets Outperform USD 21
    Initiated by Capital One Overweight
    Initiated by CapitalOne Overweight
    Initiates Coverage On Morgan Stanley Overweight USD 20