30,285 Shares in Broadstone Net Lease, Inc. (NYSE:BNL) Acquired by Kestra Investment Management LLC

Kestra Investment Management LLC acquired a new stake in Broadstone Net Lease, Inc. (NYSE:BNL) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 30,285 shares of the company’s stock, valued at approximately $574,000.

Other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in Broadstone Net Lease by 6.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 110,586 shares of the company’s stock worth $1,733,000 after buying an additional 6,906 shares during the period. Comerica Bank increased its position in shares of Broadstone Net Lease by 177.2% during the first quarter. Comerica Bank now owns 16,876 shares of the company’s stock worth $264,000 after acquiring an additional 10,788 shares during the last quarter. Arden Trust Co acquired a new position in shares of Broadstone Net Lease in the second quarter worth about $180,000. O Keefe Stevens Advisory Inc. purchased a new position in Broadstone Net Lease in the second quarter valued at about $256,000. Finally, Strategic Advocates LLC grew its stake in Broadstone Net Lease by 4.1% during the 2nd quarter. Strategic Advocates LLC now owns 24,116 shares of the company’s stock valued at $383,000 after purchasing an additional 953 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Stock Performance

Broadstone Net Lease stock opened at $17.51 on Monday. Broadstone Net Lease, Inc. has a 1 year low of $14.20 and a 1 year high of $19.15. The firm’s 50-day moving average is $17.94 and its 200-day moving average is $17.20. The company has a market cap of $3.30 billion, a P/E ratio of 23.04 and a beta of 1.12.

Broadstone Net Lease (NYSE:BNL) last issued its earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share (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 the consensus estimate 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 period in the prior year, the business earned $0.36 EPS. As a group, sell-side analysts predict that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 dividend on an annualized basis and a yield of 6.62%. Broadstone Net Lease’s payout ratio is currently 152.63%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BNL shares. Wedbush began coverage on Broadstone Net Lease in a research report on Monday, August 19th. They issued an “outperform” rating and a $20.00 target price on the stock. UBS Group started coverage on shares of Broadstone Net Lease in a research note on Thursday, November 14th. They set a “neutral” rating and a $18.00 price objective on the stock. The Goldman Sachs Group boosted their target price 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. Finally, Truist Financial increased 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 report on Friday, August 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Broadstone Net Lease presently has a consensus rating of “Hold” and a consensus target price 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.