Eagle Asset Management Inc. Invests $4.93 Million in Broadstone Net Lease, Inc. (NYSE:BNL)

Eagle Asset Management Inc. acquired a new stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 279,393 shares of the company's stock, valued at approximately $4,928,000. Eagle Asset Management Inc. owned approximately 0.15% of Broadstone Net Lease at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BNL. Legato Capital Management LLC bought a new position in Broadstone Net Lease in the second quarter valued at approximately $1,404,000. Natixis Advisors LLC increased its holdings in Broadstone Net Lease by 63.2% during the third quarter. Natixis Advisors LLC now owns 114,272 shares of the company's stock worth $2,165,000 after buying an additional 44,264 shares during the last quarter. Sei Investments Co. raised its position in Broadstone Net Lease by 20.8% during the second quarter. Sei Investments Co. now owns 545,556 shares of the company's stock worth $8,658,000 after acquiring an additional 94,092 shares in the last quarter. Victory Capital Management Inc. raised its position in Broadstone Net Lease by 2,302.8% during the second quarter. Victory Capital Management Inc. now owns 1,073,735 shares of the company's stock worth $17,040,000 after acquiring an additional 1,029,048 shares in the last quarter. Finally, Meritage Portfolio Management acquired a new stake in Broadstone Net Lease in the third quarter valued at $5,610,000. Institutional investors own 89.07% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. UBS Group began coverage on shares of Broadstone Net Lease in a report on Thursday, November 14th. They issued a "neutral" rating and a $18.00 target price on the stock. Truist Financial raised their price objective on Broadstone Net Lease from $16.00 to $18.00 and gave the company a "hold" rating in a research report on Friday, August 16th. The Goldman Sachs Group boosted their target price on Broadstone Net Lease from $14.50 to $16.00 and gave the stock a "sell" rating in a report on Friday, September 13th. Finally, Wedbush assumed coverage on Broadstone Net Lease in a report on Monday, August 19th. They set an "outperform" rating and a $20.00 price target for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Broadstone Net Lease currently has a consensus rating of "Hold" and a consensus target price of $18.20.

Broadstone Net Lease Stock Up 0.8 %

Shares of Broadstone Net Lease stock traded up $0.13 during trading on Monday, reaching $17.38. The company's stock had a trading volume of 1,052,440 shares, compared to its average volume of 1,158,281. The business's 50-day moving average price is $18.07 and its 200-day moving average price is $17.13. Broadstone Net Lease, Inc. has a 52 week low of $14.20 and a 52 week high of $19.15. The firm has a market cap of $3.28 billion, a PE ratio of 22.70 and a beta of 1.12.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last announced 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 for the quarter, compared to analyst estimates of $106.47 million. Broadstone Net Lease had a return on equity of 4.47% and a net margin of 33.56%. During the same quarter in the previous year, the company earned $0.36 EPS. Equities analysts predict that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.67%. Broadstone Net Lease's payout ratio is 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.