BSW Wealth Partners Acquires New Position in Broadstone Net Lease, Inc. (NYSE:BNL)

BSW Wealth Partners purchased a new stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 40,000 shares of the company's stock, valued at approximately $758,000.

Several other hedge funds and other institutional investors have also made changes to their positions in BNL. GAMMA Investing LLC grew its position in Broadstone Net Lease by 257.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company's stock valued at $33,000 after buying an additional 1,272 shares in the last quarter. Quarry LP lifted its stake in shares of Broadstone Net Lease by 93.1% in the 2nd quarter. Quarry LP now owns 2,556 shares of the company's stock worth $41,000 after acquiring an additional 1,232 shares during the period. Blue Trust Inc. boosted its holdings in shares of Broadstone Net Lease by 156.5% in the third quarter. Blue Trust Inc. now owns 3,902 shares of the company's stock valued at $74,000 after acquiring an additional 2,381 shares in the last quarter. US Bancorp DE increased its stake in shares of Broadstone Net Lease by 636.6% during the third quarter. US Bancorp DE now owns 3,941 shares of the company's stock valued at $75,000 after acquiring an additional 3,406 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Broadstone Net Lease by 35.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,314 shares of the company's stock worth $138,000 after purchasing an additional 1,908 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Broadstone Net Lease Price Performance

Shares of BNL traded down $0.13 during trading hours on Friday, hitting $17.46. 1,224,747 shares of the company were exchanged, compared to its average volume of 897,223. The company has a market capitalization of $3.29 billion, a PE ratio of 22.97 and a beta of 1.12. The firm has a fifty day simple moving average of $18.38 and a 200-day simple moving average of $16.84. Broadstone Net Lease, Inc. has a one year low of $14.01 and a one year high of $19.15.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.15). The company had revenue of $108.40 million during the quarter, compared to analyst estimates of $106.47 million. Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.45%. During the same quarter last year, the business earned $0.36 EPS. Sell-side analysts expect that Broadstone Net Lease, Inc. will post 1.39 EPS for the current year.

Broadstone Net Lease Announces Dividend

The company 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 $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 6.64%. The ex-dividend date is Tuesday, December 31st. Broadstone Net Lease's dividend payout ratio (DPR) is currently 152.63%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Truist Financial increased their price target 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. The Goldman Sachs Group raised 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. Finally, Wedbush started coverage on shares of Broadstone Net Lease in a research report on Monday, August 19th. They issued an "outperform" rating and a $20.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $18.25.

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.