Sophron Capital Management L.P. Makes New Investment in Broadstone Net Lease, Inc. (NYSE:BNL)

Sophron Capital Management L.P. purchased a new stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 360,672 shares of the company's stock, valued at approximately $5,720,000. Broadstone Net Lease makes up approximately 2.3% of Sophron Capital Management L.P.'s investment portfolio, making the stock its 18th largest holding. Sophron Capital Management L.P. owned about 0.19% of Broadstone Net Lease as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in BNL. Rockefeller Capital Management L.P. raised its holdings in 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 buying an additional 892 shares during the last quarter. Lazard Asset Management LLC raised its holdings in Broadstone Net Lease by 34.1% in the 4th quarter. Lazard Asset Management LLC now owns 76,592 shares of the company's stock valued at $1,214,000 after buying an additional 19,467 shares during the last quarter. Aew Capital Management L P raised its holdings in Broadstone Net Lease by 2.3% in the 4th 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 last quarter. Allspring Global Investments Holdings LLC raised 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 buying an additional 19,839 shares during the last quarter. Finally, Sterling Capital Management LLC raised its holdings in Broadstone Net Lease by 807.5% in the 4th quarter. Sterling Capital Management LLC now owns 5,944 shares of the company's stock valued at $94,000 after buying an additional 5,289 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Broadstone Net Lease Stock Performance

Shares of BNL stock traded down $0.15 during trading hours on Thursday, hitting $15.42. 1,958,537 shares of the company were exchanged, compared to its average volume of 1,200,116. The firm has a market cap of $2.92 billion, a P/E ratio of 17.72 and a beta of 1.04. Broadstone Net Lease, Inc. has a fifty-two week low of $13.96 and a fifty-two week high of $19.15. The company has a 50 day simple moving average of $16.18 and a two-hundred day simple moving average of $16.33.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.20 by $0.16. The company had revenue of $112.13 million during the quarter, compared to the consensus estimate 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 expect that Broadstone Net Lease, Inc. will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 7.52%. The ex-dividend date of this dividend is Monday, June 30th. Broadstone Net Lease's dividend payout ratio (DPR) is 190.16%.

Wall Street Analyst Weigh In

BNL has been the subject of a number of research reports. JMP Securities reiterated a "market outperform" rating and issued a $21.00 price objective on shares of Broadstone Net Lease in a report on Monday, May 5th. UBS Group dropped their price objective on shares of Broadstone Net Lease from $18.00 to $17.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Truist Financial raised their price objective on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the company a "hold" rating in a report on Monday, May 5th. Finally, BMO Capital Markets set a $20.00 price target on shares of Broadstone Net Lease and gave the stock an "outperform" rating in a report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $18.67.

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.