Marshall Wace LLP Makes New Investment in Broadstone Net Lease, Inc. (NYSE:BNL)

Marshall Wace LLP purchased a new stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 20,746 shares of the company's stock, valued at approximately $329,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank bought a new position in Broadstone Net Lease during the fourth quarter valued at about $36,170,000. Bank of Montreal Can raised its stake in shares of Broadstone Net Lease by 603.9% in the 4th quarter. Bank of Montreal Can now owns 1,891,881 shares of the company's stock valued at $30,005,000 after acquiring an additional 1,623,098 shares in the last quarter. Columbus Macro LLC acquired a new stake in Broadstone Net Lease in the 4th quarter worth approximately $6,269,000. Envestnet Asset Management Inc. boosted its position in Broadstone Net Lease by 654.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 451,078 shares of the company's stock worth $7,154,000 after purchasing an additional 391,320 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in Broadstone Net Lease by 220.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 538,743 shares of the company's stock valued at $8,545,000 after purchasing an additional 370,598 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BNL shares. BMO Capital Markets set a $20.00 price objective on shares of Broadstone Net Lease and gave the stock an "outperform" rating in a research note on Monday, March 24th. JMP Securities reissued a "market outperform" rating and set a $21.00 target price on shares of Broadstone Net Lease in a research report on Monday, May 5th. Finally, Truist Financial raised their price target on Broadstone Net Lease from $17.00 to $18.00 and gave the company a "hold" rating in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $18.83.

Broadstone Net Lease Price Performance

Shares of NYSE BNL traded up $0.05 during mid-day trading on Friday, hitting $16.33. The company had a trading volume of 804,857 shares, compared to its average volume of 1,177,705. Broadstone Net Lease, Inc. has a 12 month low of $13.96 and a 12 month high of $19.15. The firm has a market cap of $3.08 billion, a P/E ratio of 18.77 and a beta of 1.04. The business's 50-day simple moving average is $16.32 and its 200-day simple moving average is $16.43.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.16. The company had revenue of $112.13 million during the quarter, compared to the consensus estimate of $109.80 million. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. As a group, sell-side analysts predict that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.

Broadstone Net Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.10%. The ex-dividend date is Monday, June 30th. Broadstone Net Lease's dividend payout ratio is 190.16%.

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.