Broadstone Net Lease, Inc. (NYSE:BNL) Stock Holdings Lifted by Metis Global Partners LLC

Metis Global Partners LLC lifted its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 29.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 19,413 shares of the company’s stock after acquiring an additional 4,448 shares during the quarter. Metis Global Partners LLC’s holdings in Broadstone Net Lease were worth $368,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BNL. KBC Group NV boosted its position in shares of Broadstone Net Lease by 29.4% in the 3rd quarter. KBC Group NV now owns 6,220 shares of the company’s stock valued at $118,000 after purchasing an additional 1,413 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Broadstone Net Lease by 35.5% in the third quarter. Victory Capital Management Inc. now owns 1,454,507 shares of the company’s stock worth $27,563,000 after buying an additional 380,772 shares during the period. Versor Investments LP increased its position in shares of Broadstone Net Lease by 196.9% in the third quarter. Versor Investments LP now owns 38,289 shares of the company’s stock worth $726,000 after acquiring an additional 25,391 shares in the last quarter. Meritage Portfolio Management acquired a new stake in shares of Broadstone Net Lease during the third quarter valued at approximately $5,610,000. Finally, QRG Capital Management Inc. lifted its position in shares of Broadstone Net Lease by 10.1% in the 3rd quarter. QRG Capital Management Inc. now owns 13,247 shares of the company’s stock valued at $251,000 after acquiring an additional 1,220 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. UBS Group initiated 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. Truist Financial lifted their price target on Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a report on Friday, August 16th. The Goldman Sachs Group increased their price objective on Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a research note on Friday, September 13th. Finally, Wedbush began coverage on 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. One investment 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’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $18.20.

Broadstone Net Lease Trading Down 0.8 %

Shares of NYSE:BNL opened at $17.07 on Tuesday. The business has a fifty day simple moving average of $18.17 and a 200 day simple moving average of $17.08. 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 $3.22 billion, a price-to-earnings ratio of 22.46 and a beta of 1.12.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.15). The firm had revenue of $108.40 million for the quarter, compared to analyst estimates of $106.47 million. Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.47%. During the same quarter in the prior year, the firm earned $0.36 earnings per share. On average, sell-side analysts forecast that Broadstone Net Lease, Inc. will post 1.39 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid 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 6.80%. Broadstone Net Lease’s dividend payout ratio (DPR) is 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.