Broadstone Net Lease, Inc. (NYSE:BNL) Shares Sold by High Probability Advisors LLC

High Probability Advisors LLC decreased its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 47.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,763 shares of the company’s stock after selling 80,444 shares during the period. Broadstone Net Lease comprises approximately 0.3% of High Probability Advisors LLC’s portfolio, making the stock its 28th largest position. High Probability Advisors LLC’s holdings in Broadstone Net Lease were worth $1,408,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of BNL. Millennium Management LLC grew its stake in Broadstone Net Lease by 709.4% during 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 in the last quarter. Brookfield Corp ON acquired a new position in shares of Broadstone Net Lease during the third quarter worth about $18,444,000. Wellington Management Group LLP purchased a new stake in shares of Broadstone Net Lease during the third quarter worth approximately $12,574,000. Systematic Financial Management LP raised its holdings in Broadstone Net Lease by 298.1% in the third quarter. Systematic Financial Management LP now owns 747,706 shares of the company’s stock valued at $14,169,000 after acquiring an additional 559,906 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Broadstone Net Lease by 35.5% in the third quarter. Victory Capital Management Inc. now owns 1,454,507 shares of the company’s stock worth $27,563,000 after acquiring an additional 380,772 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. UBS Group started coverage on shares of Broadstone Net Lease in a report on Thursday, November 14th. They issued a “neutral” rating and a $18.00 price objective on the stock. Citizens Jmp upgraded Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. Finally, JMP Securities raised Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has assigned a strong 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 $18.60.

Broadstone Net Lease Price Performance

Shares of BNL opened at $15.85 on Friday. The firm has a fifty day moving average price of $16.43 and a 200 day moving average price of $17.38. The stock has a market cap of $2.99 billion, a PE ratio of 20.86 and a beta of 1.11. Broadstone Net Lease, Inc. has a 1-year low of $14.20 and a 1-year high of $19.15.

Broadstone Net Lease (NYSE:BNL) last posted its earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.15). The firm had revenue of $108.40 million during 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 firm posted $0.36 earnings per share. As a group, equities analysts expect that Broadstone Net Lease, Inc. will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.32%. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 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.