State Street Corp Sells 42,490 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

State Street Corp decreased its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 0.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,149,271 shares of the company’s stock after selling 42,490 shares during the period. State Street Corp’s holdings in Broadstone Net Lease were worth $156,779,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of Broadstone Net Lease by 257.5% during the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $33,000 after purchasing an additional 1,272 shares during the period. Quarry LP boosted its stake in shares of Broadstone Net Lease by 93.1% during the second quarter. Quarry LP now owns 2,556 shares of the company’s stock valued at $41,000 after purchasing an additional 1,232 shares during the period. Blue Trust Inc. boosted its stake in shares of Broadstone Net Lease by 156.5% during the third quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock valued at $74,000 after purchasing an additional 2,381 shares during the period. US Bancorp DE boosted its stake in shares of Broadstone Net Lease by 636.6% during the third quarter. US Bancorp DE now owns 3,941 shares of the company’s stock valued at $75,000 after purchasing an additional 3,406 shares during the period. Finally, KBC Group NV boosted its stake in shares of Broadstone Net Lease by 29.4% during the third quarter. KBC Group NV now owns 6,220 shares of the company’s stock valued at $118,000 after purchasing an additional 1,413 shares during the period. Institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on BNL. 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 research note on Friday, August 16th. UBS Group began coverage on shares of Broadstone Net Lease in a research note on Thursday, November 14th. They issued a “neutral” rating and a $18.00 price objective for the company. Wedbush began coverage on shares of Broadstone Net Lease in a research note on Monday, August 19th. They issued an “outperform” rating and a $20.00 price objective for the company. Finally, The Goldman Sachs Group upped their price objective on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a research note on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Broadstone Net Lease presently has a consensus rating of “Hold” and an average price target of $18.20.

Broadstone Net Lease Trading Down 0.2 %

Shares of NYSE:BNL opened at $16.90 on Friday. Broadstone Net Lease, Inc. has a twelve month low of $14.20 and a twelve month high of $19.15. The company’s 50 day moving average is $17.63 and its 200 day moving average is $17.30. The company has a market cap of $3.19 billion, a PE ratio of 22.24 and a beta of 1.10.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.15). Broadstone Net Lease had a return on equity of 4.47% and a net margin of 33.56%. The company had revenue of $108.40 million during the quarter, compared to analysts’ expectations of $106.47 million. During the same quarter in the prior year, the company posted $0.36 EPS. Equities research analysts predict that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.16 annualized dividend and a yield of 6.86%. Broadstone Net Lease’s dividend payout ratio is presently 152.63%.

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.