Broadstone Net Lease, Inc. (NYSE:BNL) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC boosted its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 2.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,480 shares of the company’s stock after purchasing an additional 886 shares during the period. Cerity Partners LLC’s holdings in Broadstone Net Lease were worth $767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Millennium Management LLC lifted its holdings in shares of Broadstone Net Lease by 709.4% in the 2nd quarter. Millennium Management LLC now owns 3,177,459 shares of the company’s stock valued at $50,426,000 after buying an additional 2,784,878 shares during the period. Victory Capital Management Inc. boosted its position in Broadstone Net Lease by 2,302.8% in the 2nd quarter. Victory Capital Management Inc. now owns 1,073,735 shares of the company’s stock worth $17,040,000 after purchasing an additional 1,029,048 shares in the last quarter. Meritage Portfolio Management acquired a new stake in shares of Broadstone Net Lease during the 3rd quarter worth approximately $5,610,000. Eagle Asset Management Inc. acquired a new position in shares of Broadstone Net Lease in the 3rd quarter valued at $4,928,000. Finally, Segall Bryant & Hamill LLC purchased a new stake in Broadstone Net Lease during the third quarter worth $3,691,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Friday, September 13th. Wedbush assumed coverage on Broadstone Net Lease in a research report on Monday, August 19th. They set an “outperform” rating and a $20.00 price target on the stock. UBS Group initiated coverage on Broadstone Net Lease in a research report on Thursday, November 14th. They issued a “neutral” rating and a $18.00 price objective for the company. Finally, Truist Financial increased their target price on Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Broadstone Net Lease presently has an average rating of “Hold” and an average price target of $18.20.

Broadstone Net Lease Price Performance

Shares of Broadstone Net Lease stock opened at $17.13 on Friday. The business has a 50 day simple moving average of $17.85 and a two-hundred day simple moving average of $17.23. The stock has a market capitalization of $3.23 billion, a P/E ratio of 22.53 and a beta of 1.10. Broadstone Net Lease, Inc. has a 12 month low of $14.20 and a 12 month high of $19.15.

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

Broadstone Net Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.29 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 annualized dividend and a yield of 6.77%. Broadstone Net Lease’s dividend payout ratio (DPR) is 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.