Y Intercept Hong Kong Ltd Invests $1.75 Million in Broadstone Net Lease, Inc. (NYSE:BNL)

Y Intercept Hong Kong Ltd purchased a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 110,491 shares of the company’s stock, valued at approximately $1,752,000. Y Intercept Hong Kong Ltd owned about 0.06% of Broadstone Net Lease as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Principal Financial Group Inc. boosted its holdings in shares of Broadstone Net Lease by 1.6% during the 4th quarter. Principal Financial Group Inc. now owns 14,276,250 shares of the company’s stock worth $226,423,000 after buying an additional 227,833 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Broadstone Net Lease by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,844,943 shares of the company’s stock worth $91,827,000 after buying an additional 62,515 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Broadstone Net Lease by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,834,413 shares of the company’s stock worth $34,762,000 after buying an additional 84,509 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Broadstone Net Lease by 35.5% during the 3rd 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. Finally, Brookfield Corp ON bought a new stake in shares of Broadstone Net Lease during the 3rd quarter worth $18,444,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

BNL has been the subject of several recent analyst reports. UBS Group initiated coverage on shares of Broadstone Net Lease in a report on Thursday, November 14th. They set a “neutral” rating and a $18.00 price objective for the company. JMP Securities raised shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a report on Tuesday, December 17th. Finally, Citizens Jmp raised shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.60.

Broadstone Net Lease Price Performance

Shares of Broadstone Net Lease stock opened at $16.53 on Wednesday. Broadstone Net Lease, Inc. has a fifty-two week low of $14.20 and a fifty-two week high of $19.15. The firm has a fifty day moving average price of $15.78 and a two-hundred day moving average price of $17.15. The company has a market cap of $3.12 billion, a PE ratio of 19.00 and a beta of 1.11.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.16. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. The firm had revenue of $112.13 million during the quarter, compared to the consensus estimate of $109.80 million. Analysts expect that Broadstone Net Lease, Inc. will post 1.43 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 Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.02%. The ex-dividend date is Monday, March 31st. Broadstone Net Lease’s dividend payout ratio is 133.33%.

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.