Broadstone Net Lease, Inc. (NYSE:BNL) Stock Position Reduced by Creative Planning

Creative Planning cut its stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 5.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 582,893 shares of the company's stock after selling 31,627 shares during the period. Creative Planning owned about 0.31% of Broadstone Net Lease worth $11,046,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Broadstone Net Lease by 431.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,176,195 shares of the company's stock valued at $18,431,000 after purchasing an additional 955,066 shares during the last quarter. Prevail Innovative Wealth Advisors LLC purchased a new stake in Broadstone Net Lease during the 1st quarter worth about $1,716,000. Legato Capital Management LLC acquired a new position in shares of Broadstone Net Lease during the 2nd quarter worth about $1,404,000. Sei Investments Co. raised its position in shares of Broadstone Net Lease by 20.8% during 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 in the last quarter. Finally, Victory Capital Management Inc. lifted its stake 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 purchasing an additional 1,029,048 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on BNL. Truist Financial increased their price target on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the company a "hold" rating in a research note on Friday, August 16th. Wedbush assumed coverage on shares of Broadstone Net Lease in a research report on Monday, August 19th. They set an "outperform" rating and a $20.00 target price on the stock. Finally, The Goldman Sachs Group boosted their price target on Broadstone Net Lease from $14.50 to $16.00 and gave the company a "sell" rating in a research report on Friday, September 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $18.25.

Broadstone Net Lease Stock Down 0.6 %

Shares of Broadstone Net Lease stock traded down $0.11 during trading hours on Wednesday, hitting $18.24. The company's stock had a trading volume of 882,943 shares, compared to its average volume of 1,160,175. The company has a market capitalization of $3.44 billion, a PE ratio of 19.00 and a beta of 1.11. The business has a fifty day moving average of $18.35 and a 200 day moving average of $16.68. Broadstone Net Lease, Inc. has a 1-year low of $13.68 and a 1-year high of $19.15.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.15). The firm had revenue of $105.91 million during the quarter, compared to analyst estimates of $105.95 million. Broadstone Net Lease had a return on equity of 4.86% and a net margin of 36.78%. During the same quarter in the prior year, the firm earned $0.35 EPS. On average, sell-side analysts anticipate that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 annualized dividend and a yield of 6.36%. Broadstone Net Lease's payout ratio is 120.83%.

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.