BSW Wealth Partners Makes New $758,000 Investment in Broadstone Net Lease, Inc. (NYSE:BNL)

BSW Wealth Partners purchased 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 SEC. The fund purchased 40,000 shares of the company’s stock, valued at approximately $758,000.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC increased its holdings in Broadstone Net Lease by 257.5% during the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $33,000 after buying an additional 1,272 shares during the period. Quarry LP increased its holdings in shares of Broadstone Net Lease by 93.1% in the 2nd quarter. Quarry LP now owns 2,556 shares of the company’s stock valued at $41,000 after acquiring an additional 1,232 shares during the period. Blue Trust Inc. increased its holdings in shares of Broadstone Net Lease by 156.5% in the 3rd quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock valued at $74,000 after acquiring an additional 2,381 shares during the period. US Bancorp DE raised its position in shares of Broadstone Net Lease by 636.6% in the 3rd quarter. US Bancorp DE now owns 3,941 shares of the company’s stock worth $75,000 after acquiring an additional 3,406 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Broadstone Net Lease by 35.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,314 shares of the company’s stock worth $138,000 after purchasing an additional 1,908 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on BNL. Truist Financial lifted their target price 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. The Goldman Sachs Group lifted their price objective 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, Wedbush assumed coverage on shares of Broadstone Net Lease in a research report on Monday, August 19th. They set an “outperform” rating and a $20.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Broadstone Net Lease has an average rating of “Hold” and a consensus target price of $18.25.

Broadstone Net Lease Price Performance

NYSE BNL traded down $0.13 during trading on Friday, hitting $17.46. The company’s stock had a trading volume of 1,224,747 shares, compared to its average volume of 1,156,666. Broadstone Net Lease, Inc. has a fifty-two week low of $14.01 and a fifty-two week high of $19.15. The company has a market cap of $3.29 billion, a PE ratio of 22.97 and a beta of 1.12. The business’s 50 day simple moving average is $18.38 and its 200-day simple moving average is $16.83.

Broadstone Net Lease (NYSE:BNL) last released its earnings results on Wednesday, October 30th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The company had revenue of $108.40 million during the quarter, compared to analyst estimates of $106.47 million. Broadstone Net Lease had a return on equity of 4.45% and a net margin of 33.56%. During the same quarter last year, the business earned $0.36 earnings per share. Analysts expect that Broadstone Net Lease, Inc. will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.64%. The ex-dividend date is Tuesday, December 31st. Broadstone Net Lease’s dividend payout ratio (DPR) 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.