Broadstone Net Lease, Inc. (NYSE:BNL) Shares Acquired by Zimmer Partners LP

Zimmer Partners LP lifted its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 550.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 325,000 shares of the company's stock after purchasing an additional 275,000 shares during the quarter. Zimmer Partners LP owned about 0.17% of Broadstone Net Lease worth $5,154,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. State of Alaska Department of Revenue raised its position in shares of Broadstone Net Lease by 1.0% during the 4th quarter. State of Alaska Department of Revenue now owns 90,318 shares of the company's stock worth $1,432,000 after purchasing an additional 882 shares during the period. Rockefeller Capital Management L.P. raised its position in shares of Broadstone Net Lease by 3.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 23,826 shares of the company's stock worth $378,000 after purchasing an additional 892 shares during the period. Corient Private Wealth LLC raised its position in shares of Broadstone Net Lease by 2.2% during the 4th quarter. Corient Private Wealth LLC now owns 41,892 shares of the company's stock worth $664,000 after purchasing an additional 907 shares during the period. Blue Trust Inc. raised its position in shares of Broadstone Net Lease by 23.7% during the 4th quarter. Blue Trust Inc. now owns 4,827 shares of the company's stock worth $77,000 after purchasing an additional 925 shares during the period. Finally, Evermay Wealth Management LLC raised its position in shares of Broadstone Net Lease by 2.0% during the 4th quarter. Evermay Wealth Management LLC now owns 50,155 shares of the company's stock worth $798,000 after purchasing an additional 969 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Broadstone Net Lease Stock Performance

Shares of NYSE BNL opened at $16.17 on Tuesday. The stock has a fifty day moving average price of $16.22 and a two-hundred day moving average price of $16.34. The firm has a market cap of $3.06 billion, a P/E ratio of 18.59 and a beta of 1.04. 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 issued its quarterly earnings results 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 firm had revenue of $112.13 million during the quarter, compared to analyst estimates of $109.80 million. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. On average, research 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 declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 7.17%. The ex-dividend date of this dividend is Monday, June 30th. Broadstone Net Lease's payout ratio is currently 190.16%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BNL. 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. Truist Financial increased their price objective on Broadstone Net Lease from $17.00 to $18.00 and gave the stock a "hold" rating in a report on Monday, May 5th. UBS Group decreased their price objective on Broadstone Net Lease from $18.00 to $17.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Finally, JMP Securities reissued a "market outperform" rating and issued a $21.00 price objective on shares of Broadstone Net Lease in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.67.

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.

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