UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 82,381 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 6.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,282,116 shares of the company's stock after selling 82,381 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.68% of Broadstone Net Lease worth $24,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC raised its stake in Broadstone Net Lease by 257.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company's stock valued at $33,000 after purchasing an additional 1,272 shares during the period. Quarry LP raised its position in shares of Broadstone Net Lease by 93.1% during the second quarter. Quarry LP now owns 2,556 shares of the company's stock valued at $41,000 after buying an additional 1,232 shares during the last quarter. Blue Trust Inc. raised its position in shares of 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 buying an additional 2,381 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Broadstone Net Lease by 636.6% in the third quarter. US Bancorp DE now owns 3,941 shares of the company's stock worth $75,000 after buying an additional 3,406 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of Broadstone Net Lease by 29.4% during the third quarter. KBC Group NV now owns 6,220 shares of the company's stock worth $118,000 after acquiring an additional 1,413 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Broadstone Net Lease Price Performance

Shares of Broadstone Net Lease stock traded up $0.10 on Friday, reaching $17.23. The company had a trading volume of 834,512 shares, compared to its average volume of 1,149,638. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 22.54 and a beta of 1.10. The firm's 50-day moving average price is $17.82 and its two-hundred day moving average price is $17.23. Broadstone Net Lease, Inc. has a 1 year low of $14.20 and a 1 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 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 firm had revenue of $108.40 million for the quarter, compared to analysts' expectations of $106.47 million. During the same period in the previous year, the firm earned $0.36 earnings per share. As a group, analysts anticipate that Broadstone Net Lease, Inc. will post 1.39 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 6.73%. The ex-dividend date of this dividend is Tuesday, December 31st. Broadstone Net Lease's dividend payout ratio (DPR) 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.