Pathstone Holdings LLC Has $1.82 Million Stock Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Pathstone Holdings LLC lifted its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 30.6% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 95,977 shares of the company’s stock after buying an additional 22,461 shares during the period. Pathstone Holdings LLC owned about 0.05% of Broadstone Net Lease worth $1,819,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of BNL. Millennium Management LLC increased its holdings 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 worth $50,426,000 after purchasing an additional 2,784,878 shares in the last quarter. Lasalle Investment Management Securities LLC acquired a new position in Broadstone Net Lease in the 1st quarter worth about $18,226,000. Victory Capital Management Inc. increased its holdings in Broadstone Net Lease by 2,302.8% in the 2nd 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 in the last quarter. Janus Henderson Group PLC increased its holdings in 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 worth $21,858,000 after purchasing an additional 857,141 shares in the last quarter. Finally, Meritage Portfolio Management acquired a new position in Broadstone Net Lease in the 3rd quarter worth about $5,610,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Trading Up 0.5 %

NYSE BNL opened at $17.52 on Thursday. The business’s 50-day moving average price is $18.02 and its two-hundred day moving average price is $17.17. 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 capitalization of $3.30 billion, a PE ratio of 23.05 and a beta of 1.12.

Broadstone Net Lease (NYSE:BNL) last announced its 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 net margin of 33.56% and a return on equity of 4.47%. The business had revenue of $108.40 million for the quarter, compared to the consensus estimate of $106.47 million. During the same quarter in the previous year, the company earned $0.36 EPS. As a group, analysts forecast that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The firm 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 dividend of $0.29 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 annualized dividend and a dividend yield of 6.62%. Broadstone Net Lease’s payout ratio is 152.63%.

Analysts Set New Price Targets

A number of brokerages have issued reports on BNL. The Goldman Sachs Group upped their target price on Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, September 13th. UBS Group began coverage on Broadstone Net Lease in a report on Thursday, November 14th. They issued a “neutral” rating and a $18.00 target price for the company. Wedbush began coverage on Broadstone Net Lease in a research report on Monday, August 19th. They issued an “outperform” rating and a $20.00 price target on the stock. Finally, Truist Financial upped their price target 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Broadstone Net Lease currently has an average rating of “Hold” and a consensus price target of $18.20.

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.