Van ECK Associates Corp Has $591,000 Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Van ECK Associates Corp increased its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 12.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,419 shares of the company’s stock after acquiring an additional 3,558 shares during the quarter. Van ECK Associates Corp’s holdings in Broadstone Net Lease were worth $591,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of BNL. GAMMA Investing LLC boosted its position in shares of Broadstone Net Lease by 257.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $33,000 after purchasing an additional 1,272 shares in the last quarter. Quarry LP boosted 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 worth $41,000 after acquiring an additional 1,232 shares in the last quarter. Blue Trust Inc. grew its stake 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 increased its holdings in shares of Broadstone Net Lease by 636.6% during 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 in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Broadstone Net Lease by 35.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,314 shares of the company’s stock worth $138,000 after purchasing an additional 1,908 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BNL has been the subject of several research reports. Truist Financial lifted their price target on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Wedbush assumed coverage on shares of Broadstone Net Lease in a research report on Monday, August 19th. They set an “outperform” rating and a $20.00 target price for the company. Finally, The Goldman Sachs Group raised their price target on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a research report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $18.25.

Broadstone Net Lease Price Performance

NYSE BNL opened at $17.19 on Wednesday. The company has a fifty day moving average price of $18.27 and a 200-day moving average price of $17.02. Broadstone Net Lease, Inc. has a 1 year low of $14.20 and a 1 year high of $19.15. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 22.62 and a beta of 1.12.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $108.40 million during the quarter, compared to the consensus estimate of $106.47 million. During the same period in the previous year, the company posted $0.36 earnings per share. On average, research analysts anticipate that Broadstone Net Lease, Inc. will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a yield of 6.75%. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 152.63%.

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.