Martingale Asset Management L P Purchases 49,100 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Martingale Asset Management L P grew its position in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 304.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 65,218 shares of the company's stock after purchasing an additional 49,100 shares during the period. Martingale Asset Management L P's holdings in Broadstone Net Lease were worth $1,236,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Millennium Management LLC grew its position in Broadstone Net Lease by 709.4% in the 2nd quarter. Millennium Management LLC now owns 3,177,459 shares of the company's stock worth $50,426,000 after purchasing an additional 2,784,878 shares during the last quarter. Bank of New York Mellon Corp grew its position in Broadstone Net Lease by 3.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,767,296 shares of the company's stock worth $28,047,000 after purchasing an additional 54,885 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Broadstone Net Lease by 35.5% in the third quarter. Victory Capital Management Inc. now owns 1,454,507 shares of the company's stock valued at $27,563,000 after acquiring an additional 380,772 shares in the last quarter. Sage Advisors LLC boosted its holdings in shares of Broadstone Net Lease by 2.7% in the third quarter. Sage Advisors LLC now owns 932,736 shares of the company's stock valued at $17,675,000 after acquiring an additional 24,670 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Broadstone Net Lease by 20.8% in the second quarter. Sei Investments Co. now owns 545,556 shares of the company's stock valued at $8,658,000 after acquiring an additional 94,092 shares in the last quarter. Institutional investors own 89.07% of the company's stock.

Broadstone Net Lease Stock Performance

Shares of NYSE:BNL traded down $0.24 during midday trading on Monday, hitting $17.27. The company's stock had a trading volume of 751,064 shares, compared to its average volume of 1,152,543. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 23.04 and a beta of 1.12. The stock's 50 day simple moving average is $17.94 and its 200 day simple moving average is $17.21. Broadstone Net Lease, Inc. has a fifty-two week low of $14.20 and a fifty-two week high of $19.15.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last released its 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 analyst estimates of $106.47 million. During the same period last year, the business 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 6.72%. The ex-dividend date of this dividend is Tuesday, December 31st. Broadstone Net Lease's dividend payout ratio (DPR) is presently 152.63%.

Analyst Ratings Changes

BNL has been the subject of several recent analyst reports. The Goldman Sachs Group increased their price objective 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. UBS Group assumed coverage on shares of Broadstone Net Lease in a report on Thursday, November 14th. They set a "neutral" rating and a $18.00 target price for the company. Wedbush assumed 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 for the company. Finally, Truist Financial raised their target price on shares of 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 assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $18.20.

About Broadstone Net Lease

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.