Thrivent Financial for Lutherans Has $8.55 Million Stock Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Thrivent Financial for Lutherans grew its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 220.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 538,743 shares of the company's stock after acquiring an additional 370,598 shares during the period. Thrivent Financial for Lutherans owned about 0.29% of Broadstone Net Lease worth $8,545,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brookfield Corp ON acquired a new position in Broadstone Net Lease in the third quarter worth $18,444,000. Wellington Management Group LLP bought a new position in shares of Broadstone Net Lease in the 3rd quarter worth about $12,574,000. Systematic Financial Management LP boosted its holdings in shares of Broadstone Net Lease by 298.1% in the 3rd quarter. Systematic Financial Management LP now owns 747,706 shares of the company's stock valued at $14,169,000 after buying an additional 559,906 shares during the period. Columbus Macro LLC bought a new stake in shares of Broadstone Net Lease during the 4th quarter valued at about $6,269,000. Finally, Victory Capital Management Inc. raised its stake in Broadstone Net Lease by 21.2% during the fourth quarter. Victory Capital Management Inc. now owns 1,762,625 shares of the company's stock worth $27,955,000 after acquiring an additional 308,118 shares during the period. Institutional investors own 89.07% of the company's stock.

Broadstone Net Lease Stock Performance

Shares of BNL stock traded up $0.36 during midday trading on Wednesday, reaching $17.16. 3,454,122 shares of the company were exchanged, compared to its average volume of 1,076,551. The company's 50 day moving average price is $16.23 and its two-hundred day moving average price is $17.01. The company has a market cap of $3.24 billion, a P/E ratio of 19.72 and a beta of 1.09. Broadstone Net Lease, Inc. has a 12 month low of $14.21 and a 12 month high of $19.15.

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Broadstone Net Lease (NYSE:BNL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.20 by $0.16. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. The firm had revenue of $112.13 million for the quarter, compared to analysts' expectations of $109.80 million. As a group, sell-side analysts predict that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.76%. Broadstone Net Lease's dividend payout ratio is currently 133.33%.

Analysts Set New Price Targets

BNL has been the topic of a number of research reports. JMP Securities upgraded Broadstone Net Lease from a "market perform" rating to an "outperform" rating and set a $21.00 price target on the stock in a research report on Tuesday, December 17th. BMO Capital Markets set a $20.00 target price on Broadstone Net Lease and gave the company an "outperform" rating in a research note on Monday. Finally, Citizens Jmp upgraded shares of Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $18.83.

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.