Balyasny Asset Management L.P. Takes $5.15 Million Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Balyasny Asset Management L.P. purchased a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 324,576 shares of the company’s stock, valued at approximately $5,148,000. Balyasny Asset Management L.P. owned approximately 0.17% of Broadstone Net Lease at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BNL. Principal Financial Group Inc. boosted its holdings in shares of Broadstone Net Lease by 1.6% in the 4th quarter. Principal Financial Group Inc. now owns 14,276,250 shares of the company’s stock valued at $226,423,000 after purchasing an additional 227,833 shares in the last quarter. Geode Capital Management LLC raised its stake in Broadstone Net Lease by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 4,860,444 shares of the company’s stock worth $77,103,000 after acquiring an additional 15,501 shares in the last quarter. Centersquare Investment Management LLC lifted its holdings in shares of Broadstone Net Lease by 7.1% in the fourth quarter. Centersquare Investment Management LLC now owns 4,011,419 shares of the company’s stock worth $63,621,000 after acquiring an additional 265,428 shares during the last quarter. Aew Capital Management L P boosted its stake in shares of Broadstone Net Lease by 2.3% in the 4th quarter. Aew Capital Management L P now owns 3,135,949 shares of the company’s stock valued at $49,736,000 after purchasing an additional 69,690 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Broadstone Net Lease by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,077,513 shares of the company’s stock worth $48,809,000 after purchasing an additional 71,709 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Stock Up 0.3 %

Shares of NYSE BNL opened at $16.33 on Friday. The firm has a market cap of $3.08 billion, a PE ratio of 18.77 and a beta of 1.04. The company’s fifty day simple moving average is $16.32 and its 200 day simple moving average is $16.43. Broadstone Net Lease, Inc. has a 12-month low of $13.96 and a 12-month high of $19.15.

Broadstone Net Lease (NYSE:BNL) last issued its earnings results on Wednesday, February 19th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.20 by $0.16. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. The company had revenue of $112.13 million during the quarter, compared to the consensus estimate of $109.80 million. On average, equities analysts predict that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current year.

Broadstone Net Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 7.10%. The ex-dividend date is Monday, June 30th. Broadstone Net Lease’s payout ratio is currently 190.16%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BNL shares. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 target price on shares of Broadstone Net Lease in a research note on Monday, May 5th. BMO Capital Markets set a $20.00 price target on Broadstone Net Lease and gave the stock an “outperform” rating in a report on Monday, March 24th. Finally, Truist Financial raised their price objective on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the company a “hold” rating in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Broadstone Net Lease currently has an average rating of “Moderate Buy” and an average target price of $18.83.

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.