Thrivent Financial for Lutherans Makes New Investment in Broadstone Net Lease, Inc. (NYSE:BNL)

Thrivent Financial for Lutherans acquired a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 168,145 shares of the company's stock, valued at approximately $3,186,000. Thrivent Financial for Lutherans owned 0.09% of Broadstone Net Lease at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in Broadstone Net Lease by 257.5% in the 3rd 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 boosted its holdings 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 valued at $41,000 after acquiring an additional 1,232 shares during the last quarter. Blue Trust Inc. increased its stake 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 worth $74,000 after acquiring an additional 2,381 shares during the period. US Bancorp DE raised its holdings 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 worth $75,000 after purchasing an additional 3,406 shares during the last quarter. Finally, KBC Group NV lifted its position in Broadstone Net Lease by 29.4% during the third 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 period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Broadstone Net Lease Price Performance

BNL stock traded up $0.06 during trading on Tuesday, hitting $17.44. The stock had a trading volume of 979,332 shares, compared to its average volume of 1,157,499. The company's 50-day moving average price is $18.04 and its two-hundred day moving average price is $17.15. Broadstone Net Lease, Inc. has a twelve month low of $14.20 and a twelve month high of $19.15. The stock has a market capitalization of $3.29 billion, a P/E ratio of 22.92 and a beta of 1.12.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $106.47 million. During the same period in the prior year, the company posted $0.36 earnings per share. As a group, sell-side analysts expect that Broadstone Net Lease, Inc. will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The firm also recently announced 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. This represents a $1.16 dividend on an annualized basis and a yield of 6.65%. The ex-dividend date of this dividend is Tuesday, December 31st. Broadstone Net Lease's dividend payout ratio (DPR) is 152.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Truist Financial increased their price target on Broadstone Net Lease from $16.00 to $18.00 and gave the stock a "hold" rating in a research report on Friday, August 16th. UBS Group began coverage on Broadstone Net Lease in a report on Thursday, November 14th. They set a "neutral" rating and a $18.00 target price on the stock. The Goldman Sachs Group upped 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. Finally, Wedbush initiated coverage on shares of Broadstone Net Lease in a report on Monday, August 19th. They set an "outperform" rating and a $20.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $18.20.

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.