Pensionfund DSM Netherlands Sells 33,000 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Pensionfund DSM Netherlands cut its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 21.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 120,000 shares of the company's stock after selling 33,000 shares during the quarter. Pensionfund DSM Netherlands owned 0.06% of Broadstone Net Lease worth $1,903,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Millennium Management LLC increased its position in shares of Broadstone Net Lease by 709.4% during the 2nd quarter. Millennium Management LLC now owns 3,177,459 shares of the company's stock valued at $50,426,000 after purchasing an additional 2,784,878 shares during the period. Victory Capital Management Inc. grew its position 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 valued at $17,040,000 after purchasing an additional 1,029,048 shares in the last quarter. Brookfield Corp ON acquired a new position in shares of Broadstone Net Lease in the third quarter worth $18,444,000. Wellington Management Group LLP acquired a new position in Broadstone Net Lease in the 3rd quarter worth about $12,574,000. Finally, Systematic Financial Management LP grew its position in Broadstone Net Lease by 298.1% in the third quarter. Systematic Financial Management LP now owns 747,706 shares of the company's stock worth $14,169,000 after acquiring an additional 559,906 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Broadstone Net Lease Stock Performance

Shares of BNL stock traded down $0.18 during mid-day trading on Monday, reaching $15.67. The company's stock had a trading volume of 1,054,751 shares, compared to its average volume of 927,284. The firm's 50-day moving average is $16.97 and its two-hundred day moving average is $17.42. 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 cap of $2.95 billion, a P/E ratio of 20.62 and a beta of 1.11.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last released its quarterly earnings results on Wednesday, October 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 $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 4.47%. During the same quarter last year, the firm earned $0.36 earnings per share. Sell-side analysts anticipate that Broadstone Net Lease, Inc. will post 1.39 EPS for the current year.

Broadstone Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.40%. Broadstone Net Lease's dividend payout ratio (DPR) is presently 152.63%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BNL. JMP Securities upgraded Broadstone Net Lease from a "market perform" rating to an "outperform" rating and set a $21.00 price target for the company in a research note on Tuesday, December 17th. Citizens Jmp upgraded shares of Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a report on Tuesday, December 17th. The Goldman Sachs Group upped their price target on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the company a "sell" rating in a report on Friday, September 13th. Finally, UBS Group began coverage on Broadstone Net Lease in a report on Thursday, November 14th. They issued a "neutral" rating and a $18.00 target price on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Broadstone Net Lease has a consensus rating of "Hold" and an average target price of $18.60.

Broadstone Net Lease 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.