Prime Capital Investment Advisors LLC Reduces Stock Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Prime Capital Investment Advisors LLC reduced its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 11.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 326,310 shares of the company's stock after selling 43,020 shares during the period. Prime Capital Investment Advisors LLC owned about 0.17% of Broadstone Net Lease worth $6,184,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Broadstone Net Lease by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 27,962,340 shares of the company's stock valued at $438,170,000 after purchasing an additional 178,102 shares during the period. Millennium Management LLC increased its position in shares of Broadstone Net Lease by 709.4% during the second quarter. Millennium Management LLC now owns 3,177,459 shares of the company's stock worth $50,426,000 after buying an additional 2,784,878 shares during the period. Bank of New York Mellon Corp raised its stake in Broadstone Net Lease by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 1,767,296 shares of the company's stock worth $28,047,000 after buying an additional 54,885 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Broadstone Net Lease by 159.4% in the first quarter. Janus Henderson Group PLC now owns 1,394,892 shares of the company's stock valued at $21,858,000 after buying an additional 857,141 shares during the period. Finally, V3 Capital Management L.P. bought a new stake in Broadstone Net Lease during the first quarter valued at $20,747,000. Institutional investors own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BNL shares. The Goldman Sachs Group lifted their price objective on Broadstone Net Lease from $14.50 to $16.00 and gave the stock a "sell" rating in a research report on Friday, September 13th. Truist Financial raised their price target on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the stock a "hold" rating in a report on Friday, August 16th. Finally, Wedbush started coverage on shares of Broadstone Net Lease in a research report on Monday, August 19th. They set an "outperform" rating and a $20.00 price objective on the stock. 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. According to MarketBeat.com, Broadstone Net Lease presently has a consensus rating of "Hold" and an average price target of $18.25.

Broadstone Net Lease Stock Performance

BNL stock traded down $0.18 during mid-day trading on Wednesday, hitting $17.02. The company had a trading volume of 1,275,704 shares, compared to its average volume of 1,162,919. The stock's fifty day moving average price is $18.24 and its two-hundred day moving average price is $17.02. Broadstone Net Lease, Inc. has a 12 month low of $14.20 and a 12 month high of $19.15. The firm has a market cap of $3.21 billion, a PE ratio of 22.40 and a beta of 1.12.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last issued its 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). 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 for the quarter, compared to the consensus estimate of $106.47 million. During the same quarter in the prior year, the business earned $0.36 EPS. Equities analysts anticipate that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 yield of 6.82%. Broadstone Net Lease's dividend payout ratio is presently 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.