Corebridge Financial Inc. trimmed its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL – Free Report) by 7.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 93,789 shares of the company’s stock after selling 7,080 shares during the quarter. Corebridge Financial Inc.’s holdings in Broadstone Net Lease were worth $1,487,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in Broadstone Net Lease by 139.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock worth $43,000 after purchasing an additional 1,592 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Broadstone Net Lease by 345.1% in the fourth quarter. Assetmark Inc. now owns 4,464 shares of the company’s stock valued at $71,000 after purchasing an additional 3,461 shares during the last quarter. Blue Trust Inc. lifted its position in Broadstone Net Lease by 23.7% during the fourth quarter. Blue Trust Inc. now owns 4,827 shares of the company’s stock worth $77,000 after buying an additional 925 shares in the last quarter. KBC Group NV boosted its stake in Broadstone Net Lease by 27.0% during the fourth quarter. KBC Group NV now owns 7,901 shares of the company’s stock worth $125,000 after buying an additional 1,681 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Broadstone Net Lease by 58.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,842 shares of the company’s stock valued at $172,000 after buying an additional 4,017 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
BNL has been the topic of several analyst reports. BMO Capital Markets set a $20.00 price target on Broadstone Net Lease and gave the stock an “outperform” rating in a report on Monday, March 24th. Citizens Jmp raised shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. Finally, JMP Securities raised shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $18.83.
Get Our Latest Analysis on Broadstone Net Lease
Broadstone Net Lease Price Performance
NYSE BNL opened at $16.71 on Friday. The stock has a market capitalization of $3.16 billion, a P/E ratio of 19.21 and a beta of 1.09. The firm’s 50-day moving average is $16.40 and its two-hundred day moving average is $16.96. Broadstone Net Lease, Inc. has a 12 month low of $14.21 and a 12 month high of $19.15.
Broadstone Net Lease (NYSE:BNL – Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.20 by $0.16. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. The firm had revenue of $112.13 million for the quarter, compared to analyst estimates of $109.80 million. As a group, analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.
Broadstone Net Lease Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.29 per share. The ex-dividend date is Monday, March 31st. This represents a $1.16 annualized dividend and a dividend yield of 6.94%. Broadstone Net Lease’s dividend payout ratio is currently 133.33%.
About Broadstone Net Lease
(Free Report)
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.
See Also
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