13,076 Shares in Broadstone Net Lease, Inc. (NYSE:BNL) Purchased by Sincerus Advisory LLC

Sincerus Advisory LLC acquired a new stake in Broadstone Net Lease, Inc. (NYSE:BNL) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 13,076 shares of the company’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in shares of Broadstone Net Lease by 156.5% in the 3rd quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock valued at $74,000 after buying an additional 2,381 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Broadstone Net Lease by 35.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,314 shares of the company’s stock valued at $138,000 after acquiring an additional 1,908 shares during the last quarter. abrdn plc increased its position in Broadstone Net Lease by 10.5% in the third quarter. abrdn plc now owns 37,655 shares of the company’s stock worth $714,000 after purchasing an additional 3,592 shares during the period. Evermay Wealth Management LLC increased its position in Broadstone Net Lease by 1.4% in the third quarter. Evermay Wealth Management LLC now owns 49,186 shares of the company’s stock worth $937,000 after purchasing an additional 677 shares during the period. Finally, US Bancorp DE raised its holdings in 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. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Price Performance

Broadstone Net Lease stock opened at $16.53 on Wednesday. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 19.00 and a beta of 1.11. The company’s 50 day simple moving average is $15.78 and its 200 day simple moving average is $17.15. Broadstone Net Lease, Inc. has a fifty-two week low of $14.20 and a fifty-two week high of $19.15.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, topping 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 company had revenue of $112.13 million for the quarter, compared to analysts’ expectations of $109.80 million. As a group, analysts predict that Broadstone Net Lease, Inc. will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.29 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.16 annualized dividend and a dividend yield of 7.02%. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 133.33%.

Analysts Set New Price Targets

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

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.