Renaissance Technologies LLC Acquires 195,900 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Renaissance Technologies LLC raised its stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 404.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 244,300 shares of the company's stock after purchasing an additional 195,900 shares during the period. Renaissance Technologies LLC owned 0.13% of Broadstone Net Lease worth $3,875,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. FIL Ltd grew its position in Broadstone Net Lease by 46.1% in the 4th quarter. FIL Ltd now owns 6,663 shares of the company's stock worth $106,000 after purchasing an additional 2,102 shares in the last quarter. Invesco Ltd. grew its position in Broadstone Net Lease by 7.1% in the 4th quarter. Invesco Ltd. now owns 1,035,938 shares of the company's stock worth $16,430,000 after purchasing an additional 69,041 shares in the last quarter. Bank of Montreal Can grew its position in Broadstone Net Lease by 603.9% in the 4th quarter. Bank of Montreal Can now owns 1,891,881 shares of the company's stock worth $30,005,000 after purchasing an additional 1,623,098 shares in the last quarter. Cerity Partners LLC grew its position in Broadstone Net Lease by 103.3% in the 4th quarter. Cerity Partners LLC now owns 82,297 shares of the company's stock worth $1,309,000 after purchasing an additional 41,817 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in Broadstone Net Lease by 73,833.3% in the 4th quarter. Federated Hermes Inc. now owns 2,218 shares of the company's stock worth $35,000 after purchasing an additional 2,215 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets set a $20.00 target price on shares of Broadstone Net Lease and gave the company an "outperform" rating in a research note on Monday, March 24th. One 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 assigned a strong buy rating to the company's stock. According to MarketBeat, Broadstone Net Lease currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.83.

Broadstone Net Lease Trading Up 0.2 %

Shares of BNL stock traded up $0.03 during trading on Monday, reaching $15.96. 1,025,641 shares of the company's stock traded hands, compared to its average volume of 1,165,147. The company has a market capitalization of $3.01 billion, a P/E ratio of 18.34 and a beta of 1.03. The firm's 50-day moving average is $16.39 and its 200 day moving average is $16.56. 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 posted its 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 analysts' expectations of $109.80 million. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. As a group, sell-side analysts predict that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 7.27%. The ex-dividend date of this dividend was Monday, March 31st. Broadstone Net Lease's dividend payout ratio is 133.33%.

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.