Eagle Asset Management Inc. Buys Shares of 279,393 Broadstone Net Lease, Inc. (NYSE:BNL)

Eagle Asset Management Inc. bought a new stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 279,393 shares of the company’s stock, valued at approximately $4,928,000. Eagle Asset Management Inc. owned approximately 0.15% of Broadstone Net Lease at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Russell Investments Group Ltd. boosted its position in shares of Broadstone Net Lease by 7.0% in the 1st quarter. Russell Investments Group Ltd. now owns 112,984 shares of the company’s stock worth $1,770,000 after purchasing an additional 7,384 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Broadstone Net Lease by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 27,962,340 shares of the company’s stock worth $438,170,000 after purchasing an additional 178,102 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of Broadstone Net Lease by 5.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 248,499 shares of the company’s stock worth $3,893,000 after purchasing an additional 13,334 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Broadstone Net Lease by 6.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 110,586 shares of the company’s stock worth $1,733,000 after purchasing an additional 6,906 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Broadstone Net Lease by 159.4% in the 1st quarter. Janus Henderson Group PLC now owns 1,394,892 shares of the company’s stock worth $21,858,000 after purchasing an additional 857,141 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Stock Up 0.4 %

Shares of Broadstone Net Lease stock opened at $17.25 on Monday. Broadstone Net Lease, Inc. has a twelve month low of $14.20 and a twelve month high of $19.15. The firm has a market cap of $3.25 billion, a PE ratio of 22.70 and a beta of 1.12. The business has a 50-day moving average price of $18.07 and a 200 day moving average price of $17.13.

Broadstone Net Lease (NYSE:BNL) last issued 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 company had revenue of $108.40 million for the quarter, compared to analyst estimates of $106.47 million. Broadstone Net Lease had a return on equity of 4.47% and a net margin of 33.56%. During the same quarter in the prior year, the firm earned $0.36 earnings per share. On average, sell-side analysts expect that Broadstone Net Lease, Inc. will post 1.39 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The company also recently announced 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. This represents a $1.16 dividend on an annualized basis and a yield of 6.72%. The ex-dividend date is Tuesday, December 31st. Broadstone Net Lease’s payout ratio is 152.63%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. The Goldman Sachs Group raised their price objective on 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 assumed coverage on Broadstone Net Lease in a research note on Thursday, November 14th. They issued a “neutral” rating and a $18.00 target price for the company. Truist Financial raised their target price on Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Finally, Wedbush assumed coverage on Broadstone Net Lease in a research note on Monday, August 19th. They issued an “outperform” rating and a $20.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Broadstone Net Lease has an average rating of “Hold” and an average target price of $18.20.

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.