Sumitomo Mitsui Trust Group Inc. Sells 67,967 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 6.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,057,660 shares of the company's stock after selling 67,967 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.56% of Broadstone Net Lease worth $20,043,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Broadstone Net Lease by 257.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company's stock worth $33,000 after buying an additional 1,272 shares in the last quarter. Quarry LP lifted its position in Broadstone Net Lease by 93.1% during the 2nd quarter. Quarry LP now owns 2,556 shares of the company's stock worth $41,000 after buying an additional 1,232 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Broadstone Net Lease by 156.5% during the 3rd quarter. Blue Trust Inc. now owns 3,902 shares of the company's stock worth $74,000 after purchasing an additional 2,381 shares during the last quarter. US Bancorp DE increased its stake in shares of Broadstone Net Lease by 636.6% during the 3rd quarter. US Bancorp DE now owns 3,941 shares of the company's stock worth $75,000 after purchasing an additional 3,406 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Broadstone Net Lease by 35.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,314 shares of the company's stock worth $138,000 after purchasing an additional 1,908 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. UBS Group assumed coverage on shares of Broadstone Net Lease in a research note on Thursday. They set a "neutral" rating and a $18.00 price objective on the stock. Wedbush started coverage on shares of Broadstone Net Lease in a research note on Monday, August 19th. They issued an "outperform" rating and a $20.00 price target on the stock. Truist Financial upped their price target 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. Finally, The Goldman Sachs Group upped their price target on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the company a "sell" rating in a research note on Friday, September 13th. One investment 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. According to MarketBeat.com, Broadstone Net Lease currently has an average rating of "Hold" and a consensus price target of $18.20.

Broadstone Net Lease Trading Down 0.8 %

Shares of NYSE:BNL traded down $0.13 on Monday, reaching $17.07. 732,011 shares of the company's stock were exchanged, compared to its average volume of 1,160,701. The company has a fifty day moving average of $18.17 and a 200-day moving average of $17.08. 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 $3.22 billion, a price-to-earnings ratio of 22.46 and a beta of 1.12.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share 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 firm had revenue of $108.40 million for the quarter, compared to the consensus estimate of $106.47 million. During the same period last year, the company posted $0.36 EPS. As a group, equities research analysts forecast that Broadstone Net Lease, Inc. will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The business also recently disclosed 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 yield of 6.80%. The ex-dividend date of this dividend is Tuesday, December 31st. Broadstone Net Lease's payout ratio is 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.