ExodusPoint Capital Management LP Takes $3.84 Million Position in Broadstone Net Lease, Inc. (NYSE:BNL)

ExodusPoint Capital Management LP purchased a new position in Broadstone Net Lease, Inc. (NYSE:BNL) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 242,311 shares of the company’s stock, valued at approximately $3,843,000. ExodusPoint Capital Management LP owned 0.13% of Broadstone Net Lease at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in shares of Broadstone Net Lease by 139.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock worth $43,000 after acquiring an additional 1,592 shares during the period. Assetmark Inc. increased its holdings in Broadstone Net Lease by 345.1% during the 4th quarter. Assetmark Inc. now owns 4,464 shares of the company’s stock worth $71,000 after purchasing an additional 3,461 shares during the period. Blue Trust Inc. raised its position in Broadstone Net Lease by 23.7% during the 4th quarter. Blue Trust Inc. now owns 4,827 shares of the company’s stock valued at $77,000 after purchasing an additional 925 shares in the last quarter. KBC Group NV lifted its holdings in shares of Broadstone Net Lease by 27.0% in the 4th quarter. KBC Group NV now owns 7,901 shares of the company’s stock worth $125,000 after buying an additional 1,681 shares during the period. Finally, FMR LLC grew its position in shares of Broadstone Net Lease by 84.0% during the 3rd quarter. FMR LLC now owns 9,992 shares of the company’s stock worth $189,000 after buying an additional 4,562 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BNL. JMP Securities upgraded Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a report on Tuesday, December 17th. BMO Capital Markets set a $20.00 price target on shares of Broadstone Net Lease and gave the stock an “outperform” rating in a research report on Monday, March 24th. Finally, Citizens Jmp raised shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Broadstone Net Lease presently has an average rating of “Hold” and a consensus target price of $18.83.

Broadstone Net Lease Stock Down 3.3 %

Shares of Broadstone Net Lease stock opened at $16.16 on Monday. The company has a market cap of $3.05 billion, a P/E ratio of 18.57 and a beta of 1.03. The firm’s 50 day moving average price is $16.41 and its 200-day moving average price is $16.92. Broadstone Net Lease, Inc. has a 52-week low of $14.21 and a 52-week high of $19.15.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.16. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. The business had revenue of $112.13 million for the quarter, compared to analyst estimates of $109.80 million. As a group, equities research analysts forecast that Broadstone Net Lease, Inc. will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.29 per share. The ex-dividend date is Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.18%. Broadstone Net Lease’s payout ratio is 133.33%.

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.