SG Americas Securities LLC Makes New Investment in Broadstone Net Lease, Inc. (NYSE:BNL)

SG Americas Securities LLC bought a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) during the 3rd quarter, Holdings Channel.com reports. The firm bought 23,717 shares of the company’s stock, valued at approximately $449,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Broadstone Net Lease by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 27,962,340 shares of the company’s stock valued at $438,170,000 after purchasing an additional 178,102 shares during the period. Millennium Management LLC lifted its stake in shares of 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 period. Bank of New York Mellon Corp lifted its stake in shares of Broadstone Net Lease by 3.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,767,296 shares of the company’s stock valued at $28,047,000 after purchasing an additional 54,885 shares during the period. Janus Henderson Group PLC lifted its stake 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 period. Finally, V3 Capital Management L.P. acquired a new position in shares of Broadstone Net Lease in the 1st quarter valued at about $20,747,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Broadstone Net Lease Price Performance

Shares of Broadstone Net Lease stock opened at $18.68 on Thursday. Broadstone Net Lease, Inc. has a one year low of $13.68 and a one year high of $19.15. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 19.46 and a beta of 1.11. The business has a 50-day simple moving average of $18.24 and a 200 day simple moving average of $16.57.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings data on Tuesday, July 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 $105.91 million for the quarter, compared to the consensus estimate of $105.95 million. Broadstone Net Lease had a return on equity of 4.86% and a net margin of 36.78%. During the same period in the prior year, the firm posted $0.35 earnings per share. On average, sell-side analysts expect that Broadstone Net Lease, Inc. will post 1.39 EPS for the current year.

Broadstone Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 6.21%. The ex-dividend date of this dividend was Monday, September 30th. Broadstone Net Lease’s dividend payout ratio is currently 120.83%.

Analyst Ratings Changes

BNL has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their price objective 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. Truist Financial boosted their target price on Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Finally, Wedbush started coverage on Broadstone Net Lease in a research report on Monday, August 19th. They issued 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 given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Broadstone Net Lease has an average rating of “Hold” and a consensus price target of $18.00.

About Broadstone Net Lease

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.