Massachusetts Financial Services Co. MA lowered its stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 15.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,979,595 shares of the company's stock after selling 546,115 shares during the period. Massachusetts Financial Services Co. MA owned about 1.58% of Broadstone Net Lease worth $56,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the stock. Evermay Wealth Management LLC grew its stake in Broadstone Net Lease by 1.2% during the 2nd quarter. Evermay Wealth Management LLC now owns 48,509 shares of the company's stock worth $774,000 after buying an additional 579 shares during the last quarter. Xponance Inc. grew its stake in shares of Broadstone Net Lease by 5.1% in the 2nd quarter. Xponance Inc. now owns 11,922 shares of the company's stock valued at $189,000 after purchasing an additional 580 shares during the last quarter. Strategic Advocates LLC grew its stake in shares of Broadstone Net Lease by 4.1% in the 2nd quarter. Strategic Advocates LLC now owns 24,116 shares of the company's stock valued at $383,000 after purchasing an additional 953 shares during the last quarter. HB Wealth Management LLC boosted its stake in shares of Broadstone Net Lease by 4.8% in the second quarter. HB Wealth Management LLC now owns 21,178 shares of the company's stock valued at $336,000 after buying an additional 967 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Broadstone Net Lease by 2.1% in the second quarter. Arizona State Retirement System now owns 52,549 shares of the company's stock valued at $834,000 after buying an additional 1,086 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.
Wall Street Analysts Forecast Growth
BNL has been the subject of several research reports. The Goldman Sachs Group lifted their price objective on Broadstone Net Lease from $14.50 to $16.00 and gave the stock a "sell" rating in a report on Friday, September 13th. Wedbush initiated 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. UBS Group initiated coverage on Broadstone Net Lease in a report on Thursday, November 14th. They set a "neutral" rating and a $18.00 price objective for the company. Finally, Truist Financial lifted their price objective 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 equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $18.20.
Check Out Our Latest Stock Report on BNL
Broadstone Net Lease Trading Up 0.9 %
Shares of NYSE BNL traded up $0.15 during trading on Monday, reaching $17.40. The company had a trading volume of 347,594 shares, compared to its average volume of 1,155,107. Broadstone Net Lease, Inc. has a twelve month low of $14.20 and a twelve month high of $19.15. The stock has a market capitalization of $3.28 billion, a PE ratio of 22.70 and a beta of 1.12. The stock has a 50-day moving average price of $18.07 and a two-hundred day moving average price of $17.13.
Broadstone Net Lease (NYSE:BNL - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.15). The business had revenue of $108.40 million during the quarter, compared to analysts' expectations of $106.47 million. Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.47%. During the same period in the prior year, the firm earned $0.36 EPS. On average, sell-side analysts predict that Broadstone Net Lease, Inc. will post 1.39 EPS for the current year.
Broadstone Net Lease Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 6.67%. The ex-dividend date is Tuesday, December 31st. Broadstone Net Lease's dividend payout ratio (DPR) is 152.63%.
Broadstone Net Lease Profile
(
Free Report)
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.
Further Reading
Before you consider Broadstone Net Lease, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Broadstone Net Lease wasn't on the list.
While Broadstone Net Lease currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
