Vise Technologies Inc. acquired a new position in Broadstone Net Lease, Inc. (NYSE:BNL – Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 58,094 shares of the company’s stock, valued at approximately $1,075,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of BNL. BlackRock Inc. purchased a new position in Broadstone Net Lease during the second quarter valued at $712,332,000. Dimensional Fund Advisors LP grew its holdings in Broadstone Net Lease by 4.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,696,795 shares of the company’s stock valued at $49,273,000 after purchasing an additional 103,091 shares during the period. Bank of America Corp DE increased its position in Broadstone Net Lease by 8.7% in the first quarter. Bank of America Corp DE now owns 2,231,816 shares of the company’s stock worth $40,775,000 after buying an additional 178,546 shares in the last quarter. Alyeska Investment Group L.P. increased its position in Broadstone Net Lease by 7.8% in the second quarter. Alyeska Investment Group L.P. now owns 2,050,198 shares of the company’s stock worth $42,378,000 after buying an additional 148,533 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Broadstone Net Lease in the second quarter worth about $39,745,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on the company. Wall Street Zen downgraded Broadstone Net Lease from a “hold” rating to a “sell” rating in a research note on Saturday, October 31st. KeyCorp reiterated an “overweight” rating on shares of Broadstone Net Lease in a research note on Tuesday, September 15th. Cantor Fitzgerald reduced their target price on shares of Broadstone Net Lease from $24.00 to $21.00 and set an “overweight” rating for the company in a report on Friday, October 30th. Weiss Ratings cut shares of Broadstone Net Lease from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Finally, Truist Financial upgraded shares of Broadstone Net Lease from a “hold” rating to a “buy” rating and decreased their target price for the stock from $22.00 to $21.00 in a research note on Thursday, October 1st. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $22.00.
Read Our Latest Stock Report on BNL
Insider Activity
In related news, Director Richard Imperiale bought 5,000 shares of the stock in a transaction dated Thursday, August 20th. The shares were purchased at an average price of $21.22 per share, with a total value of $106,100.00. Following the completion of the acquisition, the director owned 26,250 shares of the company’s stock, valued at $557,025. This represents a 23.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.02% of the stock is currently owned by insiders.
Broadstone Net Lease Trading Up 0.1%
NYSE:BNL opened at $17.53 on Monday. The stock has a 50-day moving average price of $18.79 and a 200 day moving average price of $19.83. The stock has a market capitalization of $3.36 billion, a P/E ratio of 23.06 and a beta of 0.91. Broadstone Net Lease, Inc. has a 12-month low of $16.70 and a 12-month high of $23.10.
Broadstone Net Lease (NYSE:BNL – Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). Broadstone Net Lease had a return on equity of 4.86% and a net margin of 30.26%. The business had revenue of $121.87 million during the quarter, compared to analysts’ expectations of $122.19 million. On average, research analysts predict that Broadstone Net Lease, Inc. will post 1.51 earnings per share for the current fiscal year.
Broadstone Net Lease Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be given a dividend of $0.2950 per share. The ex-dividend date is Thursday, December 31st. This is an increase from Broadstone Net Lease’s previous quarterly dividend of $0.2925. This represents a $1.18 annualized dividend and a dividend yield of 6.7%. Broadstone Net Lease’s dividend payout ratio (DPR) is 155.26%.
Broadstone Net Lease Profile
Broadstone Net Lease, Inc is an internally managed real estate investment trust that acquires, owns and manages commercial properties leased to businesses under long-term net lease agreements. Its tenants generally assume responsibility for property expenses such as taxes, insurance and maintenance.
The company’s portfolio spans property types including industrial, healthcare, retail and office, with properties primarily in the United States and also in Canada. Broadstone was founded in 2007 and is headquartered in Rochester, New York.
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