North Point Portfolio Managers Corp OH Buys Shares of 25,559 Broadstone Net Lease, Inc. (NYSE:BNL)

North Point Portfolio Managers Corp OH purchased a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 25,559 shares of the company’s stock, valued at approximately $405,000.

Several other large investors also recently added to or reduced their stakes in BNL. Millennium Management LLC boosted its position in Broadstone Net Lease by 709.4% during the second quarter. Millennium Management LLC now owns 3,177,459 shares of the company’s stock worth $50,426,000 after purchasing an additional 2,784,878 shares during the period. Brookfield Corp ON purchased a new stake in shares of Broadstone Net Lease during the 3rd quarter valued at approximately $18,444,000. Wellington Management Group LLP bought a new position in Broadstone Net Lease in the 3rd quarter worth approximately $12,574,000. Systematic Financial Management LP grew its stake in Broadstone Net Lease by 298.1% in the 3rd quarter. Systematic Financial Management LP now owns 747,706 shares of the company’s stock valued at $14,169,000 after buying an additional 559,906 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Broadstone Net Lease by 35.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,454,507 shares of the company’s stock valued at $27,563,000 after acquiring an additional 380,772 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Stock Up 1.0 %

NYSE:BNL opened at $16.01 on Monday. Broadstone Net Lease, Inc. has a twelve month low of $14.20 and a twelve month high of $19.15. The stock has a market cap of $3.02 billion, a P/E ratio of 21.06 and a beta of 1.11. The business’s 50-day moving average price is $16.41 and its two-hundred day moving average price is $17.40.

Broadstone Net Lease (NYSE:BNL) last announced its earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.15). The company had revenue of $108.40 million for the quarter, compared to the consensus estimate of $106.47 million. Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.47%. During the same quarter in the previous year, the firm earned $0.36 earnings per share. On average, equities research analysts expect that Broadstone Net Lease, Inc. will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.29 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a yield of 7.25%. Broadstone Net Lease’s dividend payout ratio is presently 152.63%.

Analysts Set New Price Targets

BNL has been the subject of a number of analyst reports. JMP Securities raised Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Tuesday, December 17th. UBS Group began coverage on Broadstone Net Lease in a report on Thursday, November 14th. They set a “neutral” rating and a $18.00 target price for the company. Finally, Citizens Jmp raised shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Broadstone Net Lease has a consensus rating of “Hold” and an average price target of $18.60.

Broadstone Net Lease 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.