Eagle Asset Management Inc. Acquires Shares of 279,393 Broadstone Net Lease, Inc. (NYSE:BNL)

Eagle Asset Management Inc. acquired a new stake in Broadstone Net Lease, Inc. (NYSE:BNL) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 279,393 shares of the company’s stock, valued at approximately $4,928,000.

Other large investors also recently bought and sold shares of the company. Intech Investment Management LLC acquired a new stake in shares of Broadstone Net Lease during the third quarter worth about $633,000. Segall Bryant & Hamill LLC purchased a new stake in Broadstone Net Lease during the 3rd quarter valued at approximately $3,691,000. Pathstone Holdings LLC grew its stake in shares of Broadstone Net Lease by 30.6% in the 3rd quarter. Pathstone Holdings LLC now owns 95,977 shares of the company’s stock valued at $1,819,000 after purchasing an additional 22,461 shares during the last quarter. Thrivent Financial for Lutherans purchased a new position in shares of Broadstone Net Lease in the 3rd quarter valued at approximately $3,186,000. Finally, Sage Advisors LLC grew its stake 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 purchasing an additional 24,670 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Trading Up 0.4 %

BNL stock opened at $17.25 on Monday. The stock has a 50-day moving average price of $18.07 and a two-hundred day moving average price of $17.13. Broadstone Net Lease, Inc. has a 12-month low of $14.20 and a 12-month high of $19.15. The company has a market cap of $3.25 billion, a PE ratio of 22.70 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 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 during the quarter, compared to analysts’ expectations of $106.47 million. During the same period in the previous year, the company earned $0.36 EPS. Equities analysts forecast that Broadstone Net Lease, Inc. will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The company also recently disclosed 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. This represents a $1.16 annualized dividend and a yield of 6.72%. The ex-dividend date is Tuesday, December 31st. Broadstone Net Lease’s payout ratio is currently 152.63%.

Analysts Set New Price Targets

BNL has been the topic of several analyst reports. Wedbush initiated coverage on Broadstone Net Lease in a research note on Monday, August 19th. They issued an “outperform” rating and a $20.00 target price on the stock. UBS Group assumed coverage on Broadstone Net Lease in a research note on Thursday, November 14th. They issued a “neutral” rating and a $18.00 price target on the stock. The Goldman Sachs Group lifted their price target on Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Friday, September 13th. Finally, Truist Financial lifted their price target on Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a research note 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.