Wellington Management Group LLP Takes Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Wellington Management Group LLP acquired a new stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 663,555 shares of the company's stock, valued at approximately $12,574,000. Wellington Management Group LLP owned 0.35% of Broadstone Net Lease as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in BNL. GAMMA Investing LLC grew its position in 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 in the last quarter. Quarry LP increased its position in shares of Broadstone Net Lease by 93.1% during the 2nd quarter. Quarry LP now owns 2,556 shares of the company's stock valued at $41,000 after purchasing an additional 1,232 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Broadstone Net Lease by 156.5% in 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 last quarter. US Bancorp DE boosted its stake in shares of Broadstone Net Lease by 636.6% in 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 in the last quarter. Finally, KBC Group NV lifted its stake in shares of Broadstone Net Lease by 29.4% in the 3rd quarter. KBC Group NV now owns 6,220 shares of the company's stock valued at $118,000 after acquiring an additional 1,413 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Broadstone Net Lease Trading Down 0.2 %

Shares of NYSE BNL traded down $0.04 during midday trading on Friday, hitting $16.90. The company's stock had a trading volume of 801,741 shares, compared to its average volume of 1,146,216. The business's 50 day moving average is $17.63 and its two-hundred day moving average is $17.33. 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 $3.19 billion, a P/E ratio of 22.24 and a beta of 1.10.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share (EPS) 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 analyst estimates of $106.47 million. During the same period in the previous year, the company posted $0.36 earnings per share. On average, analysts predict that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current fiscal year.

Broadstone Net Lease Announces Dividend

The company also recently declared 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. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.86%. The ex-dividend date is Tuesday, December 31st. Broadstone Net Lease's dividend payout ratio is presently 152.63%.

Analyst Ratings Changes

BNL has been the topic of several analyst reports. 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 target price on the stock. 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 report on Friday, September 13th. Finally, UBS Group initiated coverage on Broadstone Net Lease in a research report on Thursday, November 14th. They set a "neutral" rating and a $18.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $18.20.

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.