Broadstone Net Lease, Inc. (NYSE:BNL) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 6.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,282,116 shares of the company’s stock after selling 82,381 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.68% of Broadstone Net Lease worth $24,296,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BNL. Price T Rowe Associates Inc. MD increased its position in Broadstone Net Lease by 6.7% during 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. Comerica Bank boosted its position in Broadstone Net Lease by 177.2% during the 1st quarter. Comerica Bank now owns 16,876 shares of the company’s stock worth $264,000 after purchasing an additional 10,788 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Broadstone Net Lease by 5.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 392,061 shares of the company’s stock worth $6,222,000 after purchasing an additional 21,160 shares in the last quarter. Vanderbilt University boosted its position in shares of Broadstone Net Lease by 34.1% in the second quarter. Vanderbilt University now owns 66,764 shares of the company’s stock worth $1,060,000 after buying an additional 16,981 shares during the period. Finally, Apollon Wealth Management LLC grew its stake in shares of Broadstone Net Lease by 1.5% in the second quarter. Apollon Wealth Management LLC now owns 255,648 shares of the company’s stock valued at $4,057,000 after buying an additional 3,862 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on BNL. Wedbush initiated coverage on shares of Broadstone Net Lease in a research report on Monday, August 19th. They set an “outperform” rating and a $20.00 target price on the stock. The Goldman Sachs Group lifted their target price 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. Truist Financial increased their price target on Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a report on Friday, August 16th. Finally, UBS Group started coverage on Broadstone Net Lease in a report on Thursday, November 14th. They set a “neutral” rating and a $18.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $18.20.

Broadstone Net Lease Trading Down 0.3 %

Shares of BNL opened at $17.13 on Friday. The stock has a 50 day moving average of $17.85 and a 200-day moving average of $17.23. Broadstone Net Lease, Inc. has a 52 week low of $14.20 and a 52 week high of $19.15. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 22.54 and a beta of 1.10.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $108.40 million during the quarter, compared to the consensus estimate of $106.47 million. During the same quarter in the previous year, the business posted $0.36 earnings per share. On average, 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 business also recently announced 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 6.77%. The ex-dividend date is Tuesday, December 31st. Broadstone Net Lease’s dividend payout ratio (DPR) 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.