Bridgefront Capital LLC Invests $369,000 in Broadstone Net Lease, Inc. (NYSE:BNL)

Bridgefront Capital LLC bought a new position in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 23,271 shares of the company's stock, valued at approximately $369,000.

A number of other large investors have also bought and sold shares of the business. Principal Financial Group Inc. raised its position in Broadstone Net Lease by 1.6% in the 4th quarter. Principal Financial Group Inc. now owns 14,276,250 shares of the company's stock valued at $226,423,000 after purchasing an additional 227,833 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Broadstone Net Lease by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 4,860,444 shares of the company's stock worth $77,103,000 after acquiring an additional 15,501 shares during the last quarter. Centersquare Investment Management LLC raised its stake in shares of Broadstone Net Lease by 7.1% in the fourth quarter. Centersquare Investment Management LLC now owns 4,011,419 shares of the company's stock worth $63,621,000 after acquiring an additional 265,428 shares during the last quarter. Aew Capital Management L P lifted its position in shares of Broadstone Net Lease by 2.3% during the fourth quarter. Aew Capital Management L P now owns 3,135,949 shares of the company's stock worth $49,736,000 after purchasing an additional 69,690 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Broadstone Net Lease by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,077,513 shares of the company's stock valued at $48,809,000 after purchasing an additional 71,709 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Broadstone Net Lease Stock Performance

BNL traded up $0.04 during trading on Monday, reaching $16.37. 259,750 shares of the company's stock were exchanged, compared to its average volume of 1,174,096. The company's fifty day moving average price is $16.32 and its 200-day moving average price is $16.42. The firm has a market capitalization of $3.09 billion, a PE ratio of 18.82 and a beta of 1.04. Broadstone Net Lease, Inc. has a fifty-two week low of $13.96 and a fifty-two week high of $19.15.

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

Broadstone Net Lease Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.09%. 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.