FORA Capital LLC Takes $315,000 Position in Broadstone Net Lease, Inc. (NYSE:BNL)

FORA Capital LLC acquired a new position 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 firm acquired 16,645 shares of the company’s stock, valued at approximately $315,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Broadstone Net Lease by 257.5% in the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $33,000 after buying an additional 1,272 shares in the last quarter. Quarry LP raised its position in shares of Broadstone Net Lease by 93.1% in the second quarter. Quarry LP now owns 2,556 shares of the company’s stock worth $41,000 after buying an additional 1,232 shares in the last quarter. Blue Trust Inc. raised its position in shares of Broadstone Net Lease by 156.5% in the third quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock worth $74,000 after buying an additional 2,381 shares in the last quarter. US Bancorp DE raised its position in shares of Broadstone Net Lease by 636.6% in the third quarter. US Bancorp DE now owns 3,941 shares of the company’s stock worth $75,000 after buying an additional 3,406 shares in the last quarter. Finally, KBC Group NV raised its position in shares of Broadstone Net Lease by 29.4% in the third quarter. KBC Group NV now owns 6,220 shares of the company’s stock worth $118,000 after buying an additional 1,413 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Stock Performance

BNL opened at $17.52 on Friday. The company has a market cap of $3.30 billion, a P/E ratio of 23.05 and a beta of 1.12. The business’s 50-day moving average price is $17.97 and its 200-day moving average price is $17.17. 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 released its quarterly earnings data on Wednesday, October 30th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.15). The company had revenue of $108.40 million during the quarter, compared to analysts’ expectations of $106.47 million. Broadstone Net Lease had a return on equity of 4.47% and a net margin of 33.56%. During the same quarter in the prior year, the firm posted $0.36 EPS. Equities research analysts forecast that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current fiscal year.

Broadstone Net Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 6.62%. The ex-dividend date of this dividend is Tuesday, December 31st. Broadstone Net Lease’s payout ratio is 152.63%.

Wall Street Analyst Weigh In

BNL has been the topic of a number of recent analyst reports. Wedbush started coverage on Broadstone Net Lease in a research report on Monday, August 19th. They issued an “outperform” rating and a $20.00 price objective on the stock. Truist Financial raised their price target 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. The Goldman Sachs Group raised their price target on Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a research report on Friday, September 13th. Finally, UBS Group started coverage on Broadstone Net Lease in a research report on Thursday, November 14th. They set a “neutral” rating and a $18.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.20.

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.