Natixis Advisors LLC Purchases 44,264 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Natixis Advisors LLC increased its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 63.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 114,272 shares of the company’s stock after buying an additional 44,264 shares during the quarter. Natixis Advisors LLC’s holdings in Broadstone Net Lease were worth $2,165,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BNL. Millennium Management LLC raised its position in shares of Broadstone Net Lease by 709.4% during the second quarter. Millennium Management LLC now owns 3,177,459 shares of the company’s stock worth $50,426,000 after purchasing an additional 2,784,878 shares during the period. Lasalle Investment Management Securities LLC acquired a new stake in Broadstone Net Lease during the 1st quarter worth approximately $18,226,000. Victory Capital Management Inc. lifted its stake in Broadstone Net Lease by 2,302.8% in the second quarter. Victory Capital Management Inc. now owns 1,073,735 shares of the company’s stock valued at $17,040,000 after buying an additional 1,029,048 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Broadstone Net Lease by 159.4% in the first quarter. Janus Henderson Group PLC now owns 1,394,892 shares of the company’s stock valued at $21,858,000 after buying an additional 857,141 shares during the period. Finally, Meritage Portfolio Management bought a new stake in shares of Broadstone Net Lease during the third quarter worth $5,610,000. 89.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BNL. Truist Financial boosted 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. UBS Group assumed coverage on shares of Broadstone Net Lease in a research note on Thursday, November 14th. They set a “neutral” rating and a $18.00 price target for the company. The Goldman Sachs Group boosted their price objective 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. Finally, Wedbush assumed coverage on shares of Broadstone Net Lease in a research report on Monday, August 19th. They issued an “outperform” rating and a $20.00 target price for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $18.20.

Broadstone Net Lease Trading Up 0.4 %

NYSE BNL opened at $17.25 on Monday. 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 of $18.07 and a 200-day moving average of $17.13. The company has a market cap of $3.25 billion, a PE ratio of 22.70 and a beta of 1.12.

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 the consensus estimate 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 firm had revenue of $108.40 million for the quarter, compared to the consensus estimate of $106.47 million. During the same period last year, the company posted $0.36 earnings per share. As a group, sell-side analysts predict that Broadstone Net Lease, Inc. will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.16 annualized dividend and a yield of 6.72%. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 152.63%.

About Broadstone Net Lease

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.