KBC Group NV Acquires 1,413 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

KBC Group NV grew its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 29.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,220 shares of the company’s stock after purchasing an additional 1,413 shares during the period. KBC Group NV’s holdings in Broadstone Net Lease were worth $118,000 as of its most recent SEC filing.

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

Broadstone Net Lease Trading Up 0.8 %

BNL opened at $17.18 on Friday. The company’s 50 day moving average is $18.09 and its 200 day moving average is $17.09. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 22.61 and a beta of 1.12. Broadstone Net Lease, Inc. has a 12-month low of $14.20 and a 12-month high of $19.15.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly 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). The business had revenue of $108.40 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business earned $0.36 EPS. As a group, analysts predict that Broadstone Net Lease, Inc. will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 6.75%. The ex-dividend date of this dividend is Tuesday, December 31st. Broadstone Net Lease’s dividend payout ratio is presently 152.63%.

Analysts Set New Price Targets

BNL has been the topic of several recent analyst reports. Truist Financial increased 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. Wedbush began coverage on shares of Broadstone Net Lease in a research note on Monday, August 19th. They set an “outperform” rating and a $20.00 target price on the stock. The Goldman Sachs Group boosted their price objective on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, September 13th. Finally, UBS Group began coverage on shares of Broadstone Net Lease in a report on Thursday, November 14th. They issued a “neutral” rating and a $18.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $18.20.

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.