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

Massachusetts Financial Services Co. MA decreased its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 15.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,979,595 shares of the company’s stock after selling 546,115 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.58% of Broadstone Net Lease worth $56,463,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Evermay Wealth Management LLC lifted its position in shares of Broadstone Net Lease by 1.2% during the 2nd quarter. Evermay Wealth Management LLC now owns 48,509 shares of the company’s stock valued at $774,000 after acquiring an additional 579 shares during the period. Xponance Inc. raised its holdings in Broadstone Net Lease by 5.1% during the second quarter. Xponance Inc. now owns 11,922 shares of the company’s stock worth $189,000 after purchasing an additional 580 shares during the last quarter. Strategic Advocates LLC boosted its position in Broadstone Net Lease by 4.1% during the second quarter. Strategic Advocates LLC now owns 24,116 shares of the company’s stock worth $383,000 after purchasing an additional 953 shares in the last quarter. HB Wealth Management LLC grew its holdings in Broadstone Net Lease by 4.8% in the second quarter. HB Wealth Management LLC now owns 21,178 shares of the company’s stock valued at $336,000 after purchasing an additional 967 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in Broadstone Net Lease by 2.1% in the second quarter. Arizona State Retirement System now owns 52,549 shares of the company’s stock valued at $834,000 after purchasing an additional 1,086 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

BNL has been the topic of several recent research reports. Truist Financial boosted their price objective 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 lifted their target price 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. UBS Group initiated 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, Wedbush assumed coverage on shares of Broadstone Net Lease in a research note on Monday, August 19th. They set an “outperform” rating and a $20.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $18.20.

Broadstone Net Lease Trading Up 0.4 %

NYSE:BNL opened at $17.25 on Monday. Broadstone Net Lease, Inc. has a 12-month low of $14.20 and a 12-month high of $19.15. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 22.70 and a beta of 1.12. The company’s 50-day moving average is $18.07 and its two-hundred day moving average is $17.13.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings data 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 analysts’ expectations 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 period in the previous year, the company posted $0.36 EPS. On average, equities research analysts forecast that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

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