ExodusPoint Capital Management LP Makes New $3.84 Million Investment in Broadstone Net Lease, Inc. (NYSE:BNL)

ExodusPoint Capital Management LP bought a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 242,311 shares of the company's stock, valued at approximately $3,843,000. ExodusPoint Capital Management LP owned 0.13% of Broadstone Net Lease as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BNL. Norges Bank acquired a new stake in Broadstone Net Lease during the 4th quarter worth about $36,170,000. Wellington Management Group LLP purchased a new position in shares of Broadstone Net Lease in the third quarter worth approximately $12,574,000. Columbus Macro LLC acquired a new stake in shares of Broadstone Net Lease during the fourth quarter valued at approximately $6,269,000. Thrivent Financial for Lutherans lifted its position in shares of Broadstone Net Lease by 220.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 538,743 shares of the company's stock valued at $8,545,000 after acquiring an additional 370,598 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Broadstone Net Lease by 21.2% in the 4th quarter. Victory Capital Management Inc. now owns 1,762,625 shares of the company's stock worth $27,955,000 after purchasing an additional 308,118 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Citizens Jmp raised shares of Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, December 17th. BMO Capital Markets set a $20.00 price target on Broadstone Net Lease and gave the company an "outperform" rating in a research report on Monday, March 24th. Finally, JMP Securities upgraded Broadstone Net Lease from a "market perform" rating to an "outperform" rating and set a $21.00 price objective for the company in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $18.83.

Broadstone Net Lease Stock Performance

Shares of NYSE:BNL traded up $0.15 during midday trading on Friday, hitting $15.05. 1,256,906 shares of the stock were exchanged, compared to its average volume of 1,162,714. The business's fifty day simple moving average is $16.29 and its two-hundred day simple moving average is $16.76. Broadstone Net Lease, Inc. has a 52-week low of $13.96 and a 52-week high of $19.15. The company has a market capitalization of $2.84 billion, a PE ratio of 17.29 and a beta of 1.03.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.16. The company had revenue of $112.13 million during the quarter, compared to the consensus estimate of $109.80 million. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. As a group, equities analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.

Broadstone Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 7.71%. The ex-dividend date is Monday, March 31st. Broadstone Net Lease's dividend payout ratio is 133.33%.

Broadstone Net Lease Company 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.