Intech Investment Management LLC Purchases New Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Intech Investment Management LLC acquired a new stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 33,383 shares of the company's stock, valued at approximately $633,000.

Several other large investors also recently bought and sold shares of BNL. Natixis Advisors LLC lifted its position in shares of Broadstone Net Lease by 63.2% in the 3rd quarter. Natixis Advisors LLC now owns 114,272 shares of the company's stock worth $2,165,000 after purchasing an additional 44,264 shares during the period. Legato Capital Management LLC acquired a new position in Broadstone Net Lease during the second quarter worth about $1,404,000. Sei Investments Co. increased its stake in shares of Broadstone Net Lease by 20.8% in the 2nd 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 during the last quarter. Victory Capital Management Inc. lifted its holdings in Broadstone Net Lease by 2,302.8% in the second quarter. Victory Capital Management Inc. now owns 1,073,735 shares of the company's stock valued at $17,040,000 after acquiring an additional 1,029,048 shares during the last quarter. Finally, Meritage Portfolio Management purchased a new position in Broadstone Net Lease during the third quarter worth about $5,610,000. Institutional investors own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BNL. UBS Group started coverage on Broadstone Net Lease in a research note 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 issued an "outperform" rating and a $20.00 price target on the stock. The Goldman Sachs Group increased their price target on Broadstone Net Lease from $14.50 to $16.00 and gave the stock a "sell" rating in a research note on Friday, September 13th. Finally, Truist Financial lifted their price objective on Broadstone Net Lease from $16.00 to $18.00 and gave the company a "hold" rating in a research note on Friday, August 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $18.20.

Broadstone Net Lease Stock Down 0.1 %

Broadstone Net Lease stock traded down $0.01 during mid-day trading on Friday, hitting $17.51. 645,606 shares of the company were exchanged, compared to its average volume of 1,100,301. Broadstone Net Lease, Inc. has a 1-year low of $14.20 and a 1-year high of $19.15. The company has a market capitalization of $3.30 billion, a PE ratio of 23.04 and a beta of 1.12. The business has a fifty day moving average of $17.94 and a 200 day moving average of $17.20.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.15). Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.47%. The business had revenue of $108.40 million during the quarter, compared to analyst estimates of $106.47 million. During the same quarter in the prior year, the firm posted $0.36 earnings per share. Research analysts expect that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current year.

Broadstone Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.29 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 annualized dividend and a dividend yield of 6.62%. Broadstone Net Lease's dividend payout ratio is currently 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.