Natixis Advisors LLC grew its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 63.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 114,272 shares of the company's stock after buying an additional 44,264 shares during the period. Natixis Advisors LLC owned approximately 0.06% of Broadstone Net Lease worth $2,165,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently modified their holdings of BNL. GAMMA Investing LLC boosted its stake in Broadstone Net Lease by 257.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company's stock worth $33,000 after acquiring an additional 1,272 shares during the last quarter. Quarry LP raised its holdings in Broadstone Net Lease by 93.1% in the second quarter. Quarry LP now owns 2,556 shares of the company's stock worth $41,000 after purchasing an additional 1,232 shares during the period. Blue Trust Inc. grew its holdings in shares of Broadstone Net Lease by 156.5% in the 3rd quarter. Blue Trust Inc. now owns 3,902 shares of the company's stock valued at $74,000 after buying an additional 2,381 shares during the period. US Bancorp DE increased its position in shares of Broadstone Net Lease by 636.6% in the 3rd quarter. US Bancorp DE now owns 3,941 shares of the company's stock valued at $75,000 after buying an additional 3,406 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Broadstone Net Lease by 29.4% in the 3rd quarter. KBC Group NV now owns 6,220 shares of the company's stock valued at $118,000 after buying an additional 1,413 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.
Broadstone Net Lease Price Performance
NYSE:BNL traded up $0.13 during trading hours on Monday, reaching $17.38. 1,052,449 shares of the stock were exchanged, compared to its average volume of 1,158,281. The stock has a market cap of $3.28 billion, a PE ratio of 22.70 and a beta of 1.12. Broadstone Net Lease, Inc. has a twelve month low of $14.20 and a twelve month high of $19.15. The firm has a 50 day moving average of $18.07 and a 200 day moving average of $17.13.
Broadstone Net Lease (NYSE:BNL - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $106.47 million. During the same period in the prior year, the firm earned $0.36 EPS. Equities research analysts anticipate 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 announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.67%. The ex-dividend date of this dividend is Tuesday, December 31st. Broadstone Net Lease's dividend payout ratio is currently 152.63%.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on BNL. The Goldman Sachs Group boosted their target price on Broadstone Net Lease from $14.50 to $16.00 and gave the company a "sell" rating in a research note on Friday, September 13th. Truist Financial boosted 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. UBS Group initiated coverage on shares of Broadstone Net Lease in a report on Thursday, November 14th. They set a "neutral" rating and a $18.00 target price on the stock. Finally, 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 for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $18.20.
Check Out Our Latest Analysis on Broadstone Net Lease
About Broadstone Net Lease
(
Free Report)
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.
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