30,285 Shares in Broadstone Net Lease, Inc. (NYSE:BNL) Purchased by Kestra Investment Management LLC

Kestra Investment Management LLC acquired a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 30,285 shares of the company's stock, valued at approximately $574,000.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of Broadstone Net Lease by 257.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company's stock valued at $33,000 after acquiring an additional 1,272 shares during the period. Quarry LP raised 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 purchasing an additional 1,232 shares in the last quarter. Blue Trust Inc. lifted its position in Broadstone Net Lease by 156.5% during the third 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 lifted its position 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 last quarter. Finally, KBC Group NV boosted its stake in Broadstone Net Lease by 29.4% in the third quarter. KBC Group NV now owns 6,220 shares of the company's stock valued at $118,000 after acquiring an additional 1,413 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Broadstone Net Lease Stock Performance

NYSE BNL traded down $0.19 during trading hours on Monday, reaching $17.32. The stock had a trading volume of 263,210 shares, compared to its average volume of 1,150,348. The stock has a fifty day moving average of $17.94 and a 200 day moving average of $17.21. The stock has a market cap of $3.27 billion, a P/E ratio of 23.04 and a beta of 1.12. Broadstone Net Lease, Inc. has a 52-week low of $14.20 and a 52-week high of $19.15.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $106.47 million. During the same quarter in the previous year, the company earned $0.36 EPS. On average, equities research analysts forecast that Broadstone Net Lease, Inc. will post 1.39 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.29 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 annualized dividend and a yield of 6.70%. Broadstone Net Lease's dividend payout ratio is presently 152.63%.

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.