215,154 Shares in Broadstone Net Lease, Inc. (NYSE:BNL) Acquired by HGI Capital Management LLC

HGI Capital Management LLC bought a new stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 215,154 shares of the company’s stock, valued at approximately $4,077,000. Broadstone Net Lease comprises about 3.6% of HGI Capital Management LLC’s holdings, making the stock its 12th biggest position.

A number of other large investors have also recently bought and sold shares of BNL. Price T Rowe Associates Inc. MD boosted its stake in shares of Broadstone Net Lease by 6.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 110,586 shares of the company’s stock valued at $1,733,000 after acquiring an additional 6,906 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Broadstone Net Lease by 159.4% during the 1st quarter. Janus Henderson Group PLC now owns 1,394,892 shares of the company’s stock worth $21,858,000 after purchasing an additional 857,141 shares during the last quarter. Comerica Bank grew its holdings in shares of Broadstone Net Lease by 177.2% during the first quarter. Comerica Bank now owns 16,876 shares of the company’s stock worth $264,000 after buying an additional 10,788 shares in the last quarter. Lasalle Investment Management Securities LLC acquired a new position in shares of Broadstone Net Lease in the first quarter valued at approximately $18,226,000. Finally, Arden Trust Co acquired a new position in shares of Broadstone Net Lease in the second quarter valued at approximately $180,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Trading Up 0.5 %

Shares of Broadstone Net Lease stock opened at $17.52 on Friday. The business’s fifty day moving average price is $17.99 and its 200 day moving average price is $17.17. Broadstone Net Lease, Inc. has a twelve month low of $14.20 and a twelve month high of $19.15. The stock has a market capitalization of $3.30 billion, a P/E ratio of 23.05 and a beta of 1.12.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.15). The firm had revenue of $108.40 million during the quarter, compared to analyst estimates 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 in the prior year, the firm earned $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 year.

Broadstone Net Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 6.62%. The ex-dividend date is Tuesday, December 31st. Broadstone Net Lease’s payout ratio is currently 152.63%.

Wall Street Analysts Forecast Growth

Several analysts have commented on BNL shares. UBS Group started coverage on shares of Broadstone Net Lease in a research note on Thursday, November 14th. They issued a “neutral” rating and a $18.00 target price for the company. Wedbush assumed coverage on Broadstone Net Lease in a research report on Monday, August 19th. They issued an “outperform” rating and a $20.00 price objective for the company. 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 research report on Friday, August 16th. Finally, The Goldman Sachs Group lifted their price target on Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, September 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $18.20.

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.