VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in Broadstone Net Lease, Inc. (NYSE:BNL – Free Report) by 192.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 184,834 shares of the company’s stock after acquiring an additional 121,700 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.10% of Broadstone Net Lease worth $3,419,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of BNL. D.A. Davidson & CO. boosted its holdings in Broadstone Net Lease by 3.7% in the third quarter. D.A. Davidson & CO. now owns 158,808 shares of the company’s stock valued at $2,938,000 after acquiring an additional 5,640 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in Broadstone Net Lease by 6.2% during the third quarter. Asset Management One Co. Ltd. now owns 380,868 shares of the company’s stock worth $7,046,000 after acquiring an additional 22,363 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in Broadstone Net Lease during the third quarter worth about $217,000. Apollon Wealth Management LLC increased its stake in Broadstone Net Lease by 1.4% during the third quarter. Apollon Wealth Management LLC now owns 954,932 shares of the company’s stock worth $17,666,000 after acquiring an additional 12,906 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Broadstone Net Lease by 53.9% in the 3rd quarter. Signaturefd LLC now owns 11,644 shares of the company’s stock worth $215,000 after purchasing an additional 4,077 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other Broadstone Net Lease news, Director Richard Imperiale bought 5,000 shares of the business’s stock in a transaction on 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 purchase, the director directly owned 26,250 shares of the company’s stock, valued at approximately $557,025. The trade was a 23.53% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.02% of the company’s stock.
Broadstone Net Lease Price Performance
Shares of BNL stock opened at $17.64 on Tuesday. The firm has a market cap of $3.38 billion, a P/E ratio of 23.21 and a beta of 0.91. Broadstone Net Lease, Inc. has a 1-year low of $16.70 and a 1-year high of $23.10. The firm has a fifty day moving average of $19.07 and a two-hundred day moving average of $19.85.
Broadstone Net Lease (NYSE:BNL – Get Free Report) last released its 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). The firm had revenue of $121.87 million for the quarter, compared to the consensus estimate of $122.19 million. Broadstone Net Lease had a return on equity of 4.85% and a net margin of 30.26%. On average, sell-side analysts expect that Broadstone Net Lease, Inc. will post 1.51 EPS for the current year.
Broadstone Net Lease Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be issued a dividend of $0.2950 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 6.7%. This is a boost from Broadstone Net Lease’s previous quarterly dividend of $0.2925. The ex-dividend date of this dividend is Thursday, December 31st. Broadstone Net Lease’s dividend payout ratio is presently 153.95%.
Analyst Upgrades and Downgrades
Several research firms have issued reports on BNL. BMO Capital Markets boosted their price objective on shares of Broadstone Net Lease from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, July 10th. The Goldman Sachs Group cut their target price on shares of Broadstone Net Lease from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Monday. Wall Street Zen lowered shares of Broadstone Net Lease from a “hold” rating to a “sell” rating in a report on Saturday. Truist Financial raised shares of Broadstone Net Lease from a “hold” rating to a “buy” rating and decreased their price target for the stock from $22.00 to $21.00 in a research report on Thursday, October 1st. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Broadstone Net Lease in a research report on Tuesday, September 15th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.00.
Get Our Latest Stock Analysis on Broadstone Net Lease
Broadstone Net Lease Company Profile
Broadstone Net Lease, Inc (NYSE: BNL) is a real estate investment trust (REIT) that owns and manages a diversified portfolio of primarily single-tenant commercial properties. The company generally leases its properties under long-term, triple-net agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.
Broadstone’s portfolio includes properties used by healthcare providers, industrial and manufacturing companies, office-based businesses, restaurants and retail operators.
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