Verition Fund Management LLC Has $793,000 Stock Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Verition Fund Management LLC grew its stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 310.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,847 shares of the company's stock after acquiring an additional 31,654 shares during the period. Verition Fund Management LLC's holdings in Broadstone Net Lease were worth $793,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Evermay Wealth Management LLC increased its position in shares of 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 purchasing an additional 579 shares during the last quarter. Xponance Inc. grew its position 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 acquiring an additional 580 shares during the period. Cerity Partners LLC increased its stake in shares of Broadstone Net Lease by 2.2% during the 3rd quarter. Cerity Partners LLC now owns 40,480 shares of the company's stock worth $767,000 after purchasing an additional 886 shares during the last quarter. HB Wealth Management LLC lifted its stake in Broadstone Net Lease by 4.8% in the 2nd quarter. HB Wealth Management LLC now owns 21,178 shares of the company's stock valued at $336,000 after purchasing an additional 967 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in Broadstone Net Lease by 2.1% during the second quarter. Arizona State Retirement System now owns 52,549 shares of the company's stock worth $834,000 after purchasing an additional 1,086 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Broadstone Net Lease Stock Performance

Shares of NYSE BNL traded down $0.17 during trading hours on Tuesday, hitting $17.03. 763,568 shares of the stock were exchanged, compared to its average volume of 1,146,576. The company's fifty day simple moving average is $17.72 and its two-hundred day simple moving average is $17.29. The company has a market cap of $3.21 billion, a PE ratio of 22.41 and a beta of 1.10. 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 released its earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share (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 the consensus estimate 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 quarter in the prior year, the firm earned $0.36 EPS. As a group, sell-side analysts expect that Broadstone Net Lease, Inc. will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.81%. The ex-dividend date of this dividend is Tuesday, December 31st. Broadstone Net Lease's payout ratio is 152.63%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BNL. Wedbush began coverage on Broadstone Net Lease in a report on Monday, August 19th. They set an "outperform" rating and a $20.00 target price on the stock. Truist Financial lifted their target price on Broadstone Net Lease from $16.00 to $18.00 and gave the stock a "hold" rating in a report on Friday, August 16th. UBS Group began coverage on shares of Broadstone Net Lease in a research report on Thursday, November 14th. They set a "neutral" rating and a $18.00 price target on the stock. Finally, The Goldman Sachs Group boosted 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. 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 data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $18.20.

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.