US Bancorp DE Acquires 3,406 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

US Bancorp DE raised its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 636.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,941 shares of the company’s stock after buying an additional 3,406 shares during the quarter. US Bancorp DE’s holdings in Broadstone Net Lease were worth $75,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in BNL. Russell Investments Group Ltd. boosted its position in shares of Broadstone Net Lease by 7.0% in the first quarter. Russell Investments Group Ltd. now owns 112,984 shares of the company’s stock valued at $1,770,000 after acquiring an additional 7,384 shares during the period. ProShare Advisors LLC grew its position in Broadstone Net Lease by 8.6% in the 1st quarter. ProShare Advisors LLC now owns 33,802 shares of the company’s stock worth $530,000 after purchasing an additional 2,677 shares during the last quarter. Vanguard Group Inc. grew its position in Broadstone Net Lease by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 27,962,340 shares of the company’s stock worth $438,170,000 after purchasing an additional 178,102 shares during the last quarter. Edgestream Partners L.P. bought a new position in shares of Broadstone Net Lease during the 1st quarter worth about $1,587,000. Finally, Covestor Ltd raised its position in shares of Broadstone Net Lease by 53.4% during the first quarter. Covestor Ltd now owns 13,406 shares of the company’s stock valued at $210,000 after buying an additional 4,669 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Broadstone Net Lease Stock Up 1.6 %

Shares of Broadstone Net Lease stock opened at $17.20 on Friday. The stock has a market capitalization of $3.24 billion, a P/E ratio of 22.63 and a beta of 1.12. Broadstone Net Lease, Inc. has a 12-month low of $14.20 and a 12-month high of $19.15. The company has a 50-day simple moving average of $18.19 and a 200 day simple moving average of $17.05.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.47%. The business had revenue of $108.40 million for the quarter, compared to analyst estimates of $106.47 million. During the same period in the prior year, the business earned $0.36 earnings per share. On average, equities analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.29 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a yield of 6.74%. Broadstone Net Lease’s payout ratio is presently 152.63%.

Analyst Ratings Changes

Several brokerages recently issued reports on BNL. Wedbush started coverage on Broadstone Net Lease in a research note on Monday, August 19th. They set an “outperform” rating and a $20.00 price target on the stock. UBS Group started coverage on Broadstone Net Lease in a research report on Thursday. They issued a “neutral” rating and a $18.00 target price for the company. The Goldman Sachs Group raised their price objective on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, September 13th. Finally, Truist Financial upped their target price on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Broadstone Net Lease currently has a consensus rating of “Hold” and a consensus price target of $18.20.

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.