Sumitomo Mitsui Trust Group Inc. Sells 67,967 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 6.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,057,660 shares of the company’s stock after selling 67,967 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Broadstone Net Lease were worth $20,043,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. GAMMA Investing LLC grew its stake in shares of Broadstone Net Lease by 257.5% in the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $33,000 after acquiring an additional 1,272 shares during the last quarter. Quarry LP lifted its holdings in Broadstone Net Lease by 93.1% in the second 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. lifted its holdings in Broadstone Net Lease by 156.5% in the third 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 lifted its holdings in Broadstone Net Lease by 636.6% in the third quarter. US Bancorp DE now owns 3,941 shares of the company’s stock valued at $75,000 after acquiring an additional 3,406 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Broadstone Net Lease by 35.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,314 shares of the company’s stock worth $138,000 after buying an additional 1,908 shares during the period. Institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Trading Up 1.6 %

Shares of BNL opened at $17.20 on Monday. Broadstone Net Lease, Inc. has a 12 month low of $14.20 and a 12 month high of $19.15. The firm has a market cap of $3.24 billion, a P/E ratio of 22.63 and a beta of 1.12. The stock’s 50 day moving average is $18.19 and its two-hundred day moving average is $17.07.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.15). The business had revenue of $108.40 million for the quarter, compared to analyst estimates of $106.47 million. Broadstone Net Lease had a return on equity of 4.47% and a net margin of 33.56%. During the same period in the prior year, the company posted $0.36 earnings per share. Equities research analysts forecast that Broadstone Net Lease, Inc. will post 1.39 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 6.74%. The ex-dividend date of this dividend is Tuesday, December 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 152.63%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BNL. The Goldman Sachs Group raised their price objective on Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a research note on Friday, September 13th. Truist Financial raised their price target on Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a report on Friday, August 16th. UBS Group started coverage on Broadstone Net Lease in a report on Thursday. They issued a “neutral” rating and a $18.00 target price for the company. Finally, Wedbush started coverage on Broadstone Net Lease in a research note on Monday, August 19th. They set an “outperform” rating and a $20.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.