Dean Investment Associates LLC Has $4.14 Million Stake in Broadstone Net Lease, Inc. (NYSE:BNL)

Dean Investment Associates LLC reduced its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 8.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 218,622 shares of the company’s stock after selling 21,156 shares during the quarter. Dean Investment Associates LLC owned about 0.12% of Broadstone Net Lease worth $4,143,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of BNL. Millennium Management LLC boosted its stake in Broadstone Net Lease by 709.4% during the 2nd quarter. Millennium Management LLC now owns 3,177,459 shares of the company’s stock worth $50,426,000 after acquiring an additional 2,784,878 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Broadstone Net Lease by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 1,767,296 shares of the company’s stock worth $28,047,000 after purchasing an additional 54,885 shares during the period. Victory Capital Management Inc. boosted its position in shares of Broadstone Net Lease by 35.5% during the third quarter. Victory Capital Management Inc. now owns 1,454,507 shares of the company’s stock worth $27,563,000 after purchasing an additional 380,772 shares in the last quarter. Brookfield Corp ON acquired a new position in shares of Broadstone Net Lease in the 3rd quarter valued at $18,444,000. Finally, Sage Advisors LLC grew its holdings in shares of Broadstone Net Lease by 2.7% in the 3rd quarter. Sage Advisors LLC now owns 932,736 shares of the company’s stock valued at $17,675,000 after buying an additional 24,670 shares during the period. 89.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. UBS Group assumed coverage on Broadstone Net Lease in a report on Thursday, November 14th. They set a “neutral” rating and a $18.00 target price on the stock. The Goldman Sachs Group lifted their price objective on Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, September 13th. Truist Financial increased their target price on Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Finally, Wedbush began coverage on shares of Broadstone Net Lease in a research note on Monday, August 19th. They issued an “outperform” rating and a $20.00 price target on the stock. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $18.20.

Broadstone Net Lease Price Performance

BNL stock opened at $17.24 on Friday. The business has a 50-day moving average of $17.78 and a 200-day moving average of $17.25. Broadstone Net Lease, Inc. has a fifty-two week low of $14.20 and a fifty-two week high of $19.15. The stock has a market capitalization of $3.25 billion, a P/E ratio of 22.68 and a beta of 1.10.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly 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). The business had revenue of $108.40 million for 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 earnings per share. Equities analysts expect that Broadstone Net Lease, Inc. will post 1.39 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued 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 6.73%. Broadstone Net Lease’s payout ratio is presently 152.63%.

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.