Penserra Capital Management LLC Has $1.23 Million Stock Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Penserra Capital Management LLC lifted its position in Broadstone Net Lease, Inc. (NYSE:BNL) by 22.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,777 shares of the company’s stock after buying an additional 12,090 shares during the quarter. Penserra Capital Management LLC’s holdings in Broadstone Net Lease were worth $1,227,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC raised 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 increased its stake in shares of 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 purchasing an additional 1,232 shares during the period. Blue Trust Inc. lifted its position in shares of Broadstone Net Lease by 156.5% during the 3rd quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock worth $74,000 after purchasing an additional 2,381 shares during the last quarter. US Bancorp DE lifted its position in shares of Broadstone Net Lease by 636.6% during the 3rd quarter. US Bancorp DE now owns 3,941 shares of the company’s stock worth $75,000 after purchasing an additional 3,406 shares during the last quarter. Finally, KBC Group NV grew its holdings in 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 buying an additional 1,413 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Broadstone Net Lease Price Performance

Shares of BNL stock opened at $17.44 on Wednesday. The stock has a market cap of $3.29 billion, a P/E ratio of 22.94 and a beta of 1.12. The stock has a fifty day moving average price of $18.04 and a 200 day moving average price of $17.15. Broadstone Net Lease, Inc. has a one year low of $14.20 and a one year high of $19.15.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The business had revenue of $108.40 million for the quarter, compared to the consensus estimate of $106.47 million. Broadstone Net Lease had a return on equity of 4.47% and a net margin of 33.56%. During the same period in the previous year, the business posted $0.36 earnings per share. Equities research analysts anticipate that Broadstone Net Lease, Inc. will post 1.39 EPS for the current year.

Broadstone Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.16 annualized dividend and a dividend yield of 6.65%. Broadstone Net Lease’s dividend payout ratio is currently 152.63%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BNL. Truist Financial upped their price target on Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Wedbush assumed coverage on shares of Broadstone Net Lease in a report on Monday, August 19th. They issued an “outperform” rating and a $20.00 price target for the company. UBS Group assumed 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 target on the stock. Finally, The Goldman Sachs Group upped their price objective 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, four have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $18.20.

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.