Brighton Jones LLC Sells 4,630 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Brighton Jones LLC trimmed its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 26.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,945 shares of the company’s stock after selling 4,630 shares during the quarter. Brighton Jones LLC’s holdings in Broadstone Net Lease were worth $245,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Broadstone Net Lease by 431.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,176,195 shares of the company’s stock valued at $18,431,000 after buying an additional 955,066 shares in the last quarter. Prevail Innovative Wealth Advisors LLC bought a new position in shares of Broadstone Net Lease in the 1st quarter valued at about $1,716,000. Legato Capital Management LLC bought a new position in shares of Broadstone Net Lease in the 2nd quarter valued at about $1,404,000. Sei Investments Co. increased its stake in shares of Broadstone Net Lease by 20.8% during the 2nd quarter. Sei Investments Co. now owns 545,556 shares of the company’s stock worth $8,658,000 after purchasing an additional 94,092 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Broadstone Net Lease by 2,302.8% in the 2nd quarter. Victory Capital Management Inc. now owns 1,073,735 shares of the company’s stock valued at $17,040,000 after purchasing an additional 1,029,048 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Trading Down 1.7 %

Shares of NYSE BNL opened at $17.79 on Friday. The business’s 50 day moving average is $18.39 and its 200-day moving average is $16.73. The firm has a market cap of $3.35 billion, a P/E ratio of 18.53 and a beta of 1.11. Broadstone Net Lease, Inc. has a 1-year low of $13.68 and a 1-year high of $19.15.

Broadstone Net Lease (NYSE:BNL) last posted its earnings results on Tuesday, July 30th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). Broadstone Net Lease had a return on equity of 4.86% and a net margin of 36.78%. The firm had revenue of $105.91 million for the quarter, compared to analyst estimates of $105.95 million. During the same period in the prior year, the business posted $0.35 EPS. Analysts forecast that Broadstone Net Lease, Inc. will post 1.39 EPS for the current year.

Broadstone Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.29 per share. The ex-dividend date was Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.52%. Broadstone Net Lease’s payout ratio is presently 120.83%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Truist Financial lifted their price target on Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Friday, August 16th. The Goldman Sachs Group boosted their target price on Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, September 13th. Finally, Wedbush assumed coverage on Broadstone Net Lease in a report on Monday, August 19th. They set an “outperform” rating and a $20.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $18.25.

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.