Concurrent Investment Advisors LLC Sells 139,645 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Concurrent Investment Advisors LLC reduced its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 40.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 207,954 shares of the company's stock after selling 139,645 shares during the period. Concurrent Investment Advisors LLC owned about 0.11% of Broadstone Net Lease worth $3,941,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted 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 valued at $33,000 after purchasing an additional 1,272 shares during the period. Quarry LP lifted its stake in Broadstone Net Lease by 93.1% in 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. boosted its holdings 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 acquiring an additional 2,381 shares during the period. US Bancorp DE grew its position in shares of Broadstone Net Lease by 636.6% during the third quarter. US Bancorp DE now owns 3,941 shares of the company's stock worth $75,000 after acquiring an additional 3,406 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Broadstone Net Lease by 35.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,314 shares of the company's stock worth $138,000 after acquiring an additional 1,908 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BNL has been the topic of a number of recent analyst reports. Wedbush started coverage on Broadstone Net Lease in a report on Monday, August 19th. They set an "outperform" rating and a $20.00 price target on the stock. The Goldman Sachs Group raised their price target on Broadstone Net Lease from $14.50 to $16.00 and gave the company a "sell" rating in a report on Friday, September 13th. Finally, Truist Financial upped their price objective 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 investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Broadstone Net Lease presently has an average rating of "Hold" and a consensus target price of $18.25.

Broadstone Net Lease Trading Down 1.5 %

BNL traded down $0.26 during trading on Thursday, hitting $17.44. The stock had a trading volume of 627,040 shares, compared to its average volume of 1,157,032. Broadstone Net Lease, Inc. has a 12 month low of $14.20 and a 12 month high of $19.15. The firm has a market cap of $3.29 billion, a PE ratio of 23.29 and a beta of 1.12. The company has a 50 day simple moving average of $18.33 and a 200-day simple moving average of $16.91.

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

Broadstone Net Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 6.65%. The ex-dividend date is Tuesday, December 31st. Broadstone Net Lease's payout ratio is presently 152.63%.

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.