Charles Schwab Investment Management Inc. Has $56.96 Million Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Charles Schwab Investment Management Inc. lessened its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 5.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,005,804 shares of the company's stock after selling 163,710 shares during the period. Charles Schwab Investment Management Inc. owned 1.59% of Broadstone Net Lease worth $56,960,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Millennium Management LLC lifted its stake in Broadstone Net Lease by 709.4% in the second quarter. Millennium Management LLC now owns 3,177,459 shares of the company's stock valued at $50,426,000 after buying an additional 2,784,878 shares during the last quarter. Victory Capital Management Inc. lifted its position in Broadstone Net Lease by 2,302.8% in the 2nd quarter. Victory Capital Management Inc. now owns 1,073,735 shares of the company's stock valued at $17,040,000 after purchasing an additional 1,029,048 shares during the last quarter. Meritage Portfolio Management bought a new position in Broadstone Net Lease in the 3rd quarter worth about $5,610,000. Segall Bryant & Hamill LLC acquired a new stake in shares of Broadstone Net Lease in the third quarter valued at approximately $3,691,000. Finally, Systematic Financial Management LP bought a new stake in shares of Broadstone Net Lease during the second quarter valued at approximately $2,980,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

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

Broadstone Net Lease Trading Down 0.1 %

BNL stock traded down $0.01 during trading hours on Friday, hitting $17.51. 645,606 shares of the stock traded hands, compared to its average volume of 1,100,301. The stock has a 50-day simple moving average of $17.94 and a 200 day simple moving average of $17.20. The company has a market cap of $3.30 billion, a P/E ratio of 23.04 and a beta of 1.12. Broadstone Net Lease, Inc. has a one year low of $14.20 and a one year high of $19.15.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.15). Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.47%. The business had revenue of $108.40 million for the quarter, compared to the consensus estimate of $106.47 million. During the same quarter last year, the business posted $0.36 EPS. 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 declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.16 annualized dividend and a dividend yield of 6.62%. Broadstone Net Lease's dividend payout ratio is currently 152.63%.

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.