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

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

Other institutional investors have also recently bought and sold shares of the company. Federated Hermes Inc. increased its holdings in shares of Broadstone Net Lease by 73,833.3% in the fourth quarter. Federated Hermes Inc. now owns 2,218 shares of the company's stock worth $35,000 after acquiring an additional 2,215 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Broadstone Net Lease by 139.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company's stock worth $43,000 after purchasing an additional 1,592 shares in the last quarter. Assetmark Inc. grew its position in shares of Broadstone Net Lease by 345.1% in the 4th quarter. Assetmark Inc. now owns 4,464 shares of the company's stock valued at $71,000 after acquiring an additional 3,461 shares during the period. Blue Trust Inc. lifted its position in shares of Broadstone Net Lease by 23.7% in the fourth quarter. Blue Trust Inc. now owns 4,827 shares of the company's stock valued at $77,000 after buying an additional 925 shares during the last quarter. Finally, Sterling Capital Management LLC increased its holdings in shares of 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 last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Broadstone Net Lease Trading Down 0.1 %

NYSE:BNL traded down $0.01 during mid-day trading on Friday, reaching $16.27. The company's stock had a trading volume of 190,877 shares, compared to its average volume of 1,173,643. Broadstone Net Lease, Inc. has a 12-month low of $13.96 and a 12-month high of $19.15. The stock has a market cap of $3.07 billion, a P/E ratio of 18.70 and a beta of 1.04. The firm's fifty day moving average price is $16.33 and its two-hundred day moving average price is $16.45.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.16. The business 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%. 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given 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 yield of 7.13%. Broadstone Net Lease's payout ratio is 190.16%.

Analysts Set New Price Targets

A number of research analysts have 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 research report on Monday, March 24th. JMP Securities reissued a "market outperform" rating and issued a $21.00 target price on shares of Broadstone Net Lease in a report on Monday. Finally, Truist Financial upped their target price on Broadstone Net Lease from $17.00 to $18.00 and gave the stock a "hold" rating in a report on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $18.83.

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.