State Street Corp reduced its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 0.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,149,271 shares of the company's stock after selling 42,490 shares during the period. State Street Corp owned approximately 4.32% of Broadstone Net Lease worth $156,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of Broadstone Net Lease by 257.5% during the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company's stock worth $33,000 after buying an additional 1,272 shares during the period. Quarry LP raised its stake in 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 last quarter. Blue Trust Inc. lifted its position in Broadstone Net Lease by 156.5% during the 3rd quarter. Blue Trust Inc. now owns 3,902 shares of the company's stock worth $74,000 after acquiring an additional 2,381 shares during the period. US Bancorp DE grew its stake in Broadstone Net Lease by 636.6% during the 3rd quarter. US Bancorp DE now owns 3,941 shares of the company's stock valued at $75,000 after purchasing an additional 3,406 shares during the last quarter. Finally, KBC Group NV grew its stake in Broadstone Net Lease by 29.4% during the 3rd quarter. KBC Group NV now owns 6,220 shares of the company's stock valued at $118,000 after purchasing an additional 1,413 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
BNL has been the subject of a number of research reports. Truist Financial lifted their target price on Broadstone Net Lease from $16.00 to $18.00 and gave the stock a "hold" rating in a report on Friday, August 16th. UBS Group initiated coverage on shares of Broadstone Net Lease in a research note on Thursday, November 14th. They set a "neutral" rating and a $18.00 price objective for the company. Wedbush began coverage on shares of Broadstone Net Lease in a research note on Monday, August 19th. They issued an "outperform" rating and a $20.00 price objective on the stock. Finally, The Goldman Sachs Group raised their target price on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the stock a "sell" rating in a report on Friday, September 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Broadstone Net Lease currently has an average rating of "Hold" and an average target price of $18.20.
View Our Latest Research Report on BNL
Broadstone Net Lease Stock Down 0.2 %
Shares of NYSE BNL traded down $0.04 during midday trading on Friday, reaching $16.90. 801,741 shares of the stock were exchanged, compared to its average volume of 1,146,216. The firm has a 50-day simple moving average of $17.63 and a two-hundred day simple moving average of $17.30. Broadstone Net Lease, Inc. has a twelve month low of $14.20 and a twelve month high of $19.15. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 22.24 and a beta of 1.10.
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 the consensus estimate of $0.34 by ($0.15). Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.47%. The firm had revenue of $108.40 million for the quarter, compared to analyst estimates of $106.47 million. During the same quarter in the prior year, the business posted $0.36 EPS. Research analysts expect that Broadstone Net Lease, Inc. will post 1.39 EPS for the current fiscal year.
Broadstone Net Lease Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.29 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a yield of 6.86%. Broadstone Net Lease's payout ratio is 152.63%.
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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