Broadstone Net Lease, Inc. (NYSE:BNL) Shares Bought by Systematic Financial Management LP

Systematic Financial Management LP grew its stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 298.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 747,706 shares of the company's stock after acquiring an additional 559,906 shares during the period. Systematic Financial Management LP owned about 0.40% of Broadstone Net Lease worth $14,169,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Kestra Investment Management LLC purchased a new stake in shares of Broadstone Net Lease in the 3rd quarter valued at $574,000. Verition Fund Management LLC increased its stake in Broadstone Net Lease by 310.5% during the third quarter. Verition Fund Management LLC now owns 41,847 shares of the company's stock worth $793,000 after purchasing an additional 31,654 shares during the period. Captrust Financial Advisors lifted its position in shares of Broadstone Net Lease by 1.2% during the third quarter. Captrust Financial Advisors now owns 214,945 shares of the company's stock worth $4,073,000 after purchasing an additional 2,568 shares in the last quarter. Martingale Asset Management L P boosted its stake in shares of Broadstone Net Lease by 304.6% in the third quarter. Martingale Asset Management L P now owns 65,218 shares of the company's stock valued at $1,236,000 after purchasing an additional 49,100 shares during the period. Finally, HGI Capital Management LLC acquired a new position in shares of Broadstone Net Lease in the third quarter valued at approximately $4,077,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Broadstone Net Lease Trading Up 0.6 %

Shares of BNL stock traded up $0.10 on Friday, reaching $17.23. 834,512 shares of the stock were exchanged, compared to its average volume of 1,149,638. Broadstone Net Lease, Inc. has a twelve month low of $14.20 and a twelve month high of $19.15. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 22.67 and a beta of 1.10. The business's 50 day moving average price is $17.78 and its 200 day moving average price is $17.24.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.19 earnings per share (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 business had revenue of $108.40 million for the quarter, compared to analyst estimates of $106.47 million. During the same period in the prior year, the company posted $0.36 earnings per share. Equities research analysts forecast that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current year.

Broadstone Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a yield of 6.73%. Broadstone Net Lease's payout ratio is currently 152.63%.

Analyst Upgrades and Downgrades

BNL has been the topic of a number of research reports. Wedbush initiated coverage on shares of Broadstone Net Lease in a report on Monday, August 19th. They set an "outperform" rating and a $20.00 target price on the stock. The Goldman Sachs Group upped 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. UBS Group started coverage on Broadstone Net Lease in a report on Thursday, November 14th. They issued a "neutral" rating and a $18.00 target price for the company. Finally, Truist Financial upped their price target on Broadstone Net Lease from $16.00 to $18.00 and gave the stock a "hold" rating in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $18.20.

Broadstone Net Lease 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.