Dean Capital Management Lowers Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Dean Capital Management decreased its stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 57.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,180 shares of the company's stock after selling 77,338 shares during the quarter. Dean Capital Management's holdings in Broadstone Net Lease were worth $923,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Bridgefront Capital LLC purchased a new position in Broadstone Net Lease in the 4th quarter valued at about $369,000. Balyasny Asset Management L.P. purchased a new position in shares of Broadstone Net Lease in the fourth quarter valued at approximately $5,148,000. Bank of America Corp DE boosted its stake in shares of Broadstone Net Lease by 161.0% in the fourth quarter. Bank of America Corp DE now owns 761,471 shares of the company's stock worth $12,077,000 after acquiring an additional 469,733 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Broadstone Net Lease during the fourth quarter worth approximately $355,000. Finally, AXA S.A. increased its position in shares of Broadstone Net Lease by 39.0% during the fourth quarter. AXA S.A. now owns 232,070 shares of the company's stock worth $3,681,000 after purchasing an additional 65,144 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets set a $20.00 target price on shares of Broadstone Net Lease and gave the stock an "outperform" rating in a report on Monday, March 24th. JMP Securities reaffirmed a "market outperform" rating and set a $21.00 price objective on shares of Broadstone Net Lease in a research note on Monday, May 5th. Finally, Truist Financial increased their price objective on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the company a "hold" rating in a report on Monday, May 5th. One investment 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 MarketBeat.com, Broadstone Net Lease currently has an average rating of "Moderate Buy" and an average target price of $18.83.

Broadstone Net Lease Stock Performance

Shares of BNL stock traded down $0.04 on Monday, hitting $16.29. 1,035,793 shares of the stock traded hands, compared to its average volume of 1,325,714. Broadstone Net Lease, Inc. has a twelve month low of $13.96 and a twelve month high of $19.15. The firm's 50-day moving average price is $16.32 and its two-hundred day moving average price is $16.42. The stock has a market capitalization of $3.08 billion, a PE ratio of 18.73 and a beta of 1.04.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last issued its earnings results 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 for the quarter, compared to the consensus estimate of $109.80 million. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. On average, equities research analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 7.12%. The ex-dividend date of this dividend is Monday, June 30th. Broadstone Net Lease's dividend payout ratio 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.