Penserra Capital Management LLC Has $1.23 Million Stock Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Penserra Capital Management LLC increased its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 22.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,777 shares of the company’s stock after purchasing an additional 12,090 shares during the quarter. Penserra Capital Management LLC’s holdings in Broadstone Net Lease were worth $1,227,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Legato Capital Management LLC bought a new stake in Broadstone Net Lease during the second quarter worth about $1,404,000. Natixis Advisors LLC grew its position in Broadstone Net Lease by 63.2% during the 3rd quarter. Natixis Advisors LLC now owns 114,272 shares of the company’s stock worth $2,165,000 after acquiring an additional 44,264 shares during the last quarter. Sei Investments Co. grew its position in 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 acquiring an additional 94,092 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Broadstone Net Lease by 2,302.8% during 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 in the last quarter. Finally, Meritage Portfolio Management bought a new position in Broadstone Net Lease in the 3rd quarter valued at $5,610,000. 89.07% of the stock is owned by institutional investors.

Broadstone Net Lease Stock Up 0.3 %

Shares of BNL stock opened at $17.44 on Wednesday. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 22.94 and a beta of 1.12. Broadstone Net Lease, Inc. has a 12 month low of $14.20 and a 12 month high of $19.15. The stock has a 50-day moving average price of $18.04 and a 200 day moving average price of $17.15.

Broadstone Net Lease (NYSE:BNL) last issued its earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.15). The business had revenue of $108.40 million during the quarter, compared to the consensus estimate of $106.47 million. Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.47%. During the same period last year, the business posted $0.36 EPS. Sell-side 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 firm 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 dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 6.65%. The ex-dividend date of this dividend is Tuesday, December 31st. Broadstone Net Lease’s payout ratio is 152.63%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BNL. Truist Financial increased their target price on Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Friday, August 16th. UBS Group assumed coverage on shares of Broadstone Net Lease in a report on Thursday, November 14th. They set a “neutral” rating and a $18.00 price objective on the stock. Wedbush assumed coverage on shares of 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. Finally, The Goldman Sachs Group upped their target price on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, 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.