Broadstone Net Lease, Inc. (NYSE:BNL) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 15.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 2,979,595 shares of the company’s stock after selling 546,115 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Broadstone Net Lease were worth $56,463,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BNL. GAMMA Investing LLC boosted its holdings in Broadstone Net Lease by 257.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $33,000 after acquiring an additional 1,272 shares during the period. Quarry LP lifted its position in shares of Broadstone Net Lease by 93.1% during the second quarter. Quarry LP now owns 2,556 shares of the company’s stock worth $41,000 after purchasing an additional 1,232 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of 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 purchasing an additional 2,381 shares during the period. US Bancorp DE grew its holdings in Broadstone Net Lease by 636.6% during the 3rd quarter. US Bancorp DE now owns 3,941 shares of the company’s stock valued at $75,000 after purchasing an additional 3,406 shares in the last quarter. Finally, KBC Group NV increased its stake in Broadstone Net Lease by 29.4% during the 3rd quarter. KBC Group NV now owns 6,220 shares of the company’s stock worth $118,000 after buying an additional 1,413 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on BNL shares. UBS Group began coverage on shares of Broadstone Net Lease in a research report on Thursday, November 14th. They issued a “neutral” rating and a $18.00 price objective for the company. Truist Financial boosted their target price on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. The Goldman Sachs Group increased their price target 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. Finally, Wedbush assumed coverage on Broadstone Net Lease in a research note on Monday, August 19th. They set an “outperform” rating and a $20.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $18.20.

Broadstone Net Lease Stock Performance

NYSE BNL opened at $17.25 on Monday. Broadstone Net Lease, Inc. has a one year low of $14.20 and a one year high of $19.15. The company has a 50-day simple moving average of $18.07 and a 200-day simple moving average of $17.13. The firm has a market capitalization of $3.25 billion, a PE ratio of 22.70 and a beta of 1.12.

Broadstone Net Lease (NYSE:BNL) last issued its earnings results on Wednesday, October 30th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The company had revenue of $108.40 million during 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 previous year, the firm earned $0.36 earnings per share. Equities analysts forecast that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

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