Apollon Wealth Management LLC Has $3.96 Million Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Apollon Wealth Management LLC trimmed its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 18.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 209,155 shares of the company’s stock after selling 46,493 shares during the quarter. Apollon Wealth Management LLC’s holdings in Broadstone Net Lease were worth $3,963,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. GAMMA Investing LLC boosted its stake in shares of Broadstone Net Lease by 257.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $33,000 after acquiring an additional 1,272 shares in the last quarter. Quarry LP lifted its holdings in Broadstone Net Lease by 93.1% in the 2nd quarter. Quarry LP now owns 2,556 shares of the company’s stock worth $41,000 after purchasing an additional 1,232 shares during the last quarter. Blue Trust Inc. boosted its position in Broadstone Net Lease by 156.5% during the third quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock worth $74,000 after purchasing an additional 2,381 shares during the period. US Bancorp DE grew its holdings in 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 last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of 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 purchasing an additional 1,908 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BNL shares. 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 report on Friday, September 13th. Truist Financial upped their price target on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a report on Friday, August 16th. Finally, Wedbush initiated coverage on Broadstone Net Lease in a research report on Monday, August 19th. They issued an “outperform” rating and a $20.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Broadstone Net Lease currently has an average rating of “Hold” and an average price target of $18.25.

Broadstone Net Lease Price Performance

NYSE:BNL opened at $17.19 on Wednesday. Broadstone Net Lease, Inc. has a one year low of $14.20 and a one year high of $19.15. The company has a fifty day moving average price of $18.27 and a 200 day moving average price of $17.02. The stock has a market cap of $3.24 billion, a P/E ratio of 22.62 and a beta of 1.12.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.47%. The company had revenue of $108.40 million for the quarter, compared to analyst estimates of $106.47 million. During the same period in the prior year, the company posted $0.36 EPS. As a group, equities research analysts anticipate that Broadstone Net Lease, Inc. will post 1.39 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 6.75%. The ex-dividend date is Tuesday, December 31st. Broadstone Net Lease’s payout ratio 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.