Broadstone Net Lease, Inc. (NYSE:BNL) Position Lessened by First Trust Advisors LP

First Trust Advisors LP reduced its holdings in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 23.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 210,236 shares of the company's stock after selling 65,826 shares during the quarter. First Trust Advisors LP owned approximately 0.11% of Broadstone Net Lease worth $3,334,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Rockefeller Capital Management L.P. boosted its holdings in Broadstone Net Lease by 3.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 23,826 shares of the company's stock valued at $378,000 after acquiring an additional 892 shares during the last quarter. Aew Capital Management L P increased its position in shares of Broadstone Net Lease by 2.3% in the fourth quarter. Aew Capital Management L P now owns 3,135,949 shares of the company's stock worth $49,736,000 after acquiring an additional 69,690 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Broadstone Net Lease by 30.4% during 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 period. Allspring Global Investments Holdings LLC increased its holdings in Broadstone Net Lease by 79.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 44,955 shares of the company's stock valued at $705,000 after purchasing an additional 19,839 shares in the last quarter. Finally, Sterling Capital Management LLC raised its position in Broadstone Net Lease by 807.5% in the fourth 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. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Broadstone Net Lease Stock Down 0.1 %

Shares of BNL traded down $0.02 during midday trading on Tuesday, hitting $16.01. The company had a trading volume of 867,199 shares, compared to its average volume of 1,172,953. Broadstone Net Lease, Inc. has a 52 week low of $13.96 and a 52 week high of $19.15. The company's 50 day moving average price is $16.35 and its 200 day moving average price is $16.47. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 18.40 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 EPS for the quarter, topping 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 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 announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.29 per share. The ex-dividend date is Monday, June 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.25%. Broadstone Net Lease's dividend payout ratio (DPR) is 190.16%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. JMP Securities reaffirmed a "market outperform" rating and issued a $21.00 target price on shares of Broadstone Net Lease in a research report on Monday. Truist Financial lifted 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. Finally, BMO Capital Markets set a $20.00 price objective on shares of Broadstone Net Lease and gave the stock an "outperform" rating in a report on Monday, March 24th. 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 stock. According to MarketBeat.com, Broadstone Net Lease has a consensus rating of "Moderate Buy" and a consensus target price of $18.83.

Broadstone Net Lease Company 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.