Marshall Wace LLP Takes $329,000 Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Marshall Wace LLP bought a new stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 20,746 shares of the company's stock, valued at approximately $329,000.

Several other hedge funds have also made changes to their positions in BNL. Federated Hermes Inc. grew its stake in shares of Broadstone Net Lease by 73,833.3% in the 4th quarter. Federated Hermes Inc. now owns 2,218 shares of the company's stock valued at $35,000 after purchasing an additional 2,215 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Broadstone Net Lease by 139.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company's stock valued at $43,000 after purchasing an additional 1,592 shares during the last quarter. Assetmark Inc. boosted its stake in Broadstone Net Lease by 345.1% during the 4th quarter. Assetmark Inc. now owns 4,464 shares of the company's stock worth $71,000 after acquiring an additional 3,461 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Broadstone Net Lease by 23.7% in the 4th quarter. Blue Trust Inc. now owns 4,827 shares of the company's stock valued at $77,000 after buying an additional 925 shares during the period. Finally, Sterling Capital Management LLC increased its holdings in shares of Broadstone Net Lease by 807.5% in the fourth quarter. Sterling Capital Management LLC now owns 5,944 shares of the company's stock worth $94,000 after acquiring an additional 5,289 shares in the last quarter. Institutional investors own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. 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 report on Monday, March 24th. Truist Financial boosted their target price on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the stock a "hold" rating in a report on Monday. Finally, JMP Securities restated a "market outperform" rating and issued a $21.00 price objective on shares of Broadstone Net Lease in a research note on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $18.83.

Broadstone Net Lease Price Performance

Broadstone Net Lease stock traded up $0.28 during midday trading on Wednesday, hitting $16.25. The company's stock had a trading volume of 1,885,516 shares, compared to its average volume of 1,176,920. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 18.68 and a beta of 1.04. The company has a 50-day moving average price of $16.34 and a two-hundred day moving average price of $16.47. Broadstone Net Lease, Inc. has a 1-year low of $13.96 and a 1-year high of $19.15.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.20 by $0.16. The firm had revenue of $112.13 million for the quarter, compared to analyst estimates of $109.80 million. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. Sell-side analysts forecast that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.

Broadstone Net Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 7.14%. The ex-dividend date is Monday, June 30th. Broadstone Net Lease's dividend payout ratio (DPR) is presently 190.16%.

Broadstone Net Lease 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.