Northern Trust Corp Has $39.09 Million Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Northern Trust Corp boosted its holdings in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 20.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,464,544 shares of the company's stock after acquiring 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 filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Rockefeller Capital Management L.P. lifted its stake in shares of Broadstone Net Lease by 3.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 23,826 shares of the company's stock valued at $378,000 after purchasing an additional 892 shares in the last quarter. Aew Capital Management L P raised its position in 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 valued at $49,736,000 after buying an additional 69,690 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Broadstone Net Lease by 30.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 466,782 shares of the company's stock worth $7,403,000 after purchasing an additional 108,907 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Broadstone Net Lease by 79.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 44,955 shares of the company's stock worth $705,000 after acquiring an additional 19,839 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its stake in Broadstone Net Lease by 807.5% during the 4th quarter. Sterling Capital Management LLC now owns 5,944 shares of the company's stock valued at $94,000 after purchasing an additional 5,289 shares during the period. Hedge funds and other institutional investors own 89.07% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. BMO Capital Markets set a $20.00 price target on Broadstone Net Lease and gave the stock an "outperform" rating in a research report on Monday, March 24th. JMP Securities reaffirmed 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. UBS Group dropped their target price on shares of Broadstone Net Lease from $18.00 to $17.00 and set a "neutral" rating on the stock in a research report on Tuesday. Finally, Truist Financial boosted their price target on shares of 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $18.67.

Broadstone Net Lease Trading Up 1.6%

Shares of BNL traded up $0.26 during trading hours on Thursday, reaching $16.05. The company had a trading volume of 278,676 shares, compared to its average volume of 1,171,968. The firm has a 50 day simple moving average of $16.27 and a 200-day simple moving average of $16.40. Broadstone Net Lease, Inc. has a 12-month low of $13.96 and a 12-month high of $19.15. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 18.48 and a beta of 1.04.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.16. The firm had revenue of $112.13 million during 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 earnings per share 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. 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 7.23%. Broadstone Net Lease's dividend payout ratio (DPR) is presently 190.16%.

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.