40,000 Shares in Broadstone Net Lease, Inc. (NYSE:BNL) Purchased by BSW Wealth Partners

BSW Wealth Partners bought a new stake in Broadstone Net Lease, Inc. (NYSE:BNL) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 40,000 shares of the company’s stock, valued at approximately $758,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of Broadstone Net Lease by 75.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 46,036 shares of the company’s stock valued at $721,000 after acquiring an additional 19,755 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Broadstone Net Lease by 431.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,176,195 shares of the company’s stock valued at $18,431,000 after purchasing an additional 955,066 shares during the last quarter. Commonwealth Equity Services LLC grew its position in Broadstone Net Lease by 4.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 100,533 shares of the company’s stock worth $1,575,000 after purchasing an additional 3,991 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Broadstone Net Lease by 5.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 640,812 shares of the company’s stock valued at $10,734,000 after buying an additional 32,245 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in shares of Broadstone Net Lease by 6.8% during the 1st quarter. Daiwa Securities Group Inc. now owns 60,853 shares of the company’s stock valued at $954,000 after buying an additional 3,890 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on BNL shares. Wedbush began coverage on shares of Broadstone Net Lease in a research note on Monday, August 19th. They set an “outperform” rating and a $20.00 price objective on the stock. The Goldman Sachs Group increased their target price on Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, September 13th. Finally, Truist Financial raised their price target on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $18.25.

Broadstone Net Lease Stock Down 0.7 %

Shares of Broadstone Net Lease stock traded down $0.13 during mid-day trading on Friday, hitting $17.46. The stock had a trading volume of 1,224,747 shares, compared to its average volume of 1,156,666. The firm has a 50-day moving average of $18.38 and a two-hundred day moving average of $16.83. The firm has a market cap of $3.29 billion, a P/E ratio of 22.97 and a beta of 1.12. Broadstone Net Lease, Inc. has a 12-month low of $14.01 and a 12-month high of $19.15.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The business had revenue of $108.40 million during the quarter, compared to analyst estimates of $106.47 million. Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.45%. During the same quarter in the prior year, the company posted $0.36 earnings per share. Sell-side analysts expect that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.64%. The ex-dividend date of this dividend is Tuesday, December 31st. Broadstone Net Lease’s dividend payout ratio is presently 152.63%.

Broadstone Net Lease Company 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.