Broadstone Net Lease, Inc. (NYSE:BNL) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 6.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,057,660 shares of the company’s stock after selling 67,967 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.56% of Broadstone Net Lease worth $20,043,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in BNL. Millennium Management LLC increased its position in shares of Broadstone Net Lease by 709.4% in the 2nd quarter. Millennium Management LLC now owns 3,177,459 shares of the company’s stock worth $50,426,000 after purchasing an additional 2,784,878 shares during the last quarter. V3 Capital Management L.P. bought a new stake in shares of Broadstone Net Lease during the 1st quarter worth about $20,747,000. Lasalle Investment Management Securities LLC bought a new stake in shares of Broadstone Net Lease during the 1st quarter worth about $18,226,000. Victory Capital Management Inc. raised its holdings in shares of Broadstone Net Lease by 2,302.8% in the 2nd quarter. Victory Capital Management Inc. now owns 1,073,735 shares of the company’s stock worth $17,040,000 after purchasing an additional 1,029,048 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Broadstone Net Lease by 159.4% in the 1st quarter. Janus Henderson Group PLC now owns 1,394,892 shares of the company’s stock worth $21,858,000 after purchasing an additional 857,141 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Trading Up 1.6 %

NYSE BNL opened at $17.20 on Monday. 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 capitalization of $3.24 billion, a P/E ratio of 22.63 and a beta of 1.12. The firm’s fifty day moving average price is $18.19 and its two-hundred day moving average price is $17.07.

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). The business had revenue of $108.40 million during the quarter, compared to the consensus estimate 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 last year, the business earned $0.36 EPS. On average, research analysts anticipate that Broadstone Net Lease, Inc. will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The firm also recently announced 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. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.74%. The ex-dividend date of this dividend is Tuesday, December 31st. Broadstone Net Lease’s payout ratio is 152.63%.

Analyst Upgrades and Downgrades

BNL has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their price target on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, September 13th. UBS Group began coverage on shares of Broadstone Net Lease in a report on Thursday. They set a “neutral” rating and a $18.00 price objective for the company. Truist Financial upped their price objective on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Finally, Wedbush began coverage on shares of Broadstone Net Lease in a research note on Monday, August 19th. They set an “outperform” rating and a $20.00 target price for the company. 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 data from MarketBeat.com, Broadstone Net Lease currently has an average rating of “Hold” and a consensus target price of $18.20.

Broadstone Net Lease Company 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.