Broadstone Net Lease, Inc. (NYSE:BNL) Stock Holdings Cut by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its position in Broadstone Net Lease, Inc. (NYSE:BNL) by 5.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,005,804 shares of the company’s stock after selling 163,710 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Broadstone Net Lease were worth $56,960,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Intech Investment Management LLC acquired a new position in shares of Broadstone Net Lease in the third quarter worth about $633,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Broadstone Net Lease in the 3rd quarter valued at approximately $3,691,000. Pathstone Holdings LLC boosted its stake in Broadstone Net Lease by 30.6% in the 3rd 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 period. Thrivent Financial for Lutherans purchased a new position in Broadstone Net Lease during the 3rd quarter worth approximately $3,186,000. Finally, Sage Advisors LLC grew its position in Broadstone Net Lease by 2.7% during the 3rd quarter. Sage Advisors LLC now owns 932,736 shares of the company’s stock worth $17,675,000 after purchasing an additional 24,670 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. 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 on the stock. The Goldman Sachs Group increased their target price on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Friday, September 13th. Wedbush initiated coverage on shares of Broadstone Net Lease in a report on Monday, August 19th. They set an “outperform” rating and a $20.00 price target on the stock. Finally, Truist Financial increased their price objective on Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Friday, August 16th. 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 company has an average rating of “Hold” and an average price target of $18.20.

Broadstone Net Lease Price Performance

NYSE BNL opened at $17.51 on Friday. The stock’s 50 day simple moving average is $17.94 and its 200 day simple moving average is $17.19. Broadstone Net Lease, Inc. has a one year low of $14.20 and a one year high of $19.15. The firm has a market cap of $3.30 billion, a PE ratio of 23.04 and a beta of 1.12.

Broadstone Net Lease (NYSE:BNL) last released 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 firm had revenue of $108.40 million during the quarter, compared to analyst estimates of $106.47 million. During the same period last year, the business posted $0.36 earnings per share. As a group, equities analysts expect that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current year.

Broadstone Net Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 6.62%. The ex-dividend date of this dividend is Tuesday, December 31st. Broadstone Net Lease’s dividend payout ratio is currently 152.63%.

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.