Landscape Capital Management L.L.C. Lowers Stock Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Landscape Capital Management L.L.C. lowered its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 70.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,490 shares of the company’s stock after selling 44,971 shares during the period. Landscape Capital Management L.L.C.’s holdings in Broadstone Net Lease were worth $350,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Intech Investment Management LLC purchased a new stake in shares of Broadstone Net Lease in the third quarter worth $633,000. Segall Bryant & Hamill LLC bought a new stake in shares of Broadstone Net Lease during the 3rd quarter valued at about $3,691,000. Pathstone Holdings LLC increased its position in shares of Broadstone Net Lease by 30.6% in the third quarter. Pathstone Holdings LLC now owns 95,977 shares of the company’s stock worth $1,819,000 after purchasing an additional 22,461 shares during the last quarter. Thrivent Financial for Lutherans purchased a new stake in Broadstone Net Lease in the third quarter valued at approximately $3,186,000. Finally, Sage Advisors LLC lifted its position in Broadstone Net Lease by 2.7% during the third quarter. Sage Advisors LLC now owns 932,736 shares of the company’s stock valued at $17,675,000 after purchasing an additional 24,670 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Broadstone Net Lease Trading Up 0.4 %

BNL stock opened at $17.25 on Monday. The firm’s 50-day moving average price is $18.07 and its two-hundred day moving average price is $17.13. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 22.70 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 released its quarterly earnings data 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). Broadstone Net Lease had a return on equity of 4.47% and a net margin of 33.56%. The business had revenue of $108.40 million during the quarter, compared to analysts’ expectations of $106.47 million. During the same quarter last year, the business posted $0.36 EPS. Equities analysts predict that Broadstone Net Lease, Inc. will post 1.39 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 6.72%. The ex-dividend date is Tuesday, December 31st. Broadstone Net Lease’s dividend payout ratio is currently 152.63%.

Analysts Set New Price Targets

Several analysts have recently weighed in on BNL shares. UBS Group began coverage on shares of Broadstone Net Lease in a research report on Thursday, November 14th. They set a “neutral” rating and a $18.00 price objective on the stock. 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 price target on the stock. Truist Financial upped their price objective on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Friday, August 16th. Finally, The Goldman Sachs Group raised 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. One 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’s stock. Based on data from MarketBeat, Broadstone Net Lease 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.