Northern Trust Corp Boosts Stock Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Northern Trust Corp lifted its position in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 20.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,464,544 shares of the company's stock after purchasing an additional 410,767 shares during the quarter. Northern Trust Corp owned about 1.31% of Broadstone Net Lease worth $39,088,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Quarry LP purchased a new position in Broadstone Net Lease during the fourth quarter valued at approximately $57,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Broadstone Net Lease in the fourth quarter valued at approximately $246,000. Price T Rowe Associates Inc. MD increased its position in shares of Broadstone Net Lease by 4.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 742,956 shares of the company's stock valued at $11,784,000 after buying an additional 31,284 shares in the last quarter. Stifel Financial Corp increased its position in shares of Broadstone Net Lease by 12.6% in the fourth quarter. Stifel Financial Corp now owns 17,415 shares of the company's stock valued at $276,000 after buying an additional 1,945 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Broadstone Net Lease by 192.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,914 shares of the company's stock valued at $46,000 after buying an additional 1,918 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Broadstone Net Lease Stock Down 0.2%

NYSE:BNL traded down $0.04 on Monday, reaching $16.29. The company's stock had a trading volume of 1,039,915 shares, compared to its average volume of 1,177,154. 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 price-to-earnings ratio of 18.73 and a beta of 1.04. The stock has a 50 day moving average price of $16.31 and a 200 day moving average price of $16.41.

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

Broadstone Net Lease Dividend Announcement

The company 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. The ex-dividend date is Monday, June 30th. This represents a $1.16 annualized dividend and a dividend yield of 7.12%. Broadstone Net Lease's dividend payout ratio is presently 190.16%.

Wall Street Analysts Forecast Growth

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

About Broadstone Net Lease

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.