Versor Investments LP Boosts Stake in Broadstone Net Lease, Inc. (NYSE:BNL)

Versor Investments LP raised its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 196.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,289 shares of the company’s stock after acquiring an additional 25,391 shares during the quarter. Versor Investments LP’s holdings in Broadstone Net Lease were worth $726,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Millennium Management LLC raised its stake in Broadstone Net Lease by 709.4% in the 2nd quarter. Millennium Management LLC now owns 3,177,459 shares of the company’s stock valued at $50,426,000 after purchasing an additional 2,784,878 shares during the last quarter. V3 Capital Management L.P. purchased a new stake in Broadstone Net Lease in the first quarter valued at approximately $20,747,000. Lasalle Investment Management Securities LLC acquired a new position in Broadstone Net Lease during the first quarter worth approximately $18,226,000. Victory Capital Management Inc. raised its stake in Broadstone Net Lease by 2,302.8% during the second quarter. Victory Capital Management Inc. now owns 1,073,735 shares of the company’s stock worth $17,040,000 after purchasing an additional 1,029,048 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in shares of Broadstone Net Lease by 159.4% in the 1st quarter. Janus Henderson Group PLC now owns 1,394,892 shares of the company’s stock valued at $21,858,000 after purchasing an additional 857,141 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BNL. The Goldman Sachs Group increased their target price on Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Friday, September 13th. Wedbush initiated coverage on Broadstone Net Lease in a report on Monday, August 19th. They issued an “outperform” rating and a $20.00 price objective on the stock. Finally, Truist Financial boosted their target price on Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $18.25.

Broadstone Net Lease Price Performance

Shares of BNL opened at $17.19 on Wednesday. Broadstone Net Lease, Inc. has a 12 month low of $14.20 and a 12 month high of $19.15. The stock’s 50-day moving average is $18.27 and its two-hundred day moving average is $17.02. The stock has a market cap of $3.24 billion, a PE ratio of 22.62 and a beta of 1.12.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.19 EPS 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 for the quarter, compared to analyst estimates of $106.47 million. During the same period last year, the firm posted $0.36 earnings per share. On average, research analysts anticipate that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current 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 given a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a yield of 6.75%. Broadstone Net Lease’s payout ratio is currently 152.63%.

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.