Zimmer Partners LP Increases Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Zimmer Partners LP raised its position in 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 (SEC). 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 0.17% of Broadstone Net Lease worth $5,154,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in Broadstone Net Lease by 1.6% in the 4th quarter. Principal Financial Group Inc. now owns 14,276,250 shares of the company's stock worth $226,423,000 after purchasing an additional 227,833 shares during the period. Geode Capital Management LLC lifted its position in shares of Broadstone Net Lease by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 4,860,444 shares of the company's stock valued at $77,103,000 after buying an additional 15,501 shares during the last quarter. Centersquare Investment Management LLC boosted its stake in Broadstone Net Lease by 7.1% in the fourth quarter. Centersquare Investment Management LLC now owns 4,011,419 shares of the company's stock valued at $63,621,000 after acquiring an additional 265,428 shares in the last quarter. Aew Capital Management L P boosted its stake in 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 valued at $49,736,000 after acquiring an additional 69,690 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Broadstone Net Lease by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,077,513 shares of the company's stock valued at $48,809,000 after acquiring an additional 71,709 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BNL shares. JMP Securities reiterated a "market outperform" rating and set a $21.00 price objective on shares of Broadstone Net Lease in a research note on Monday, May 5th. UBS Group decreased 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 research report on Tuesday, May 13th. Truist Financial boosted their target price 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, May 5th. Finally, 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 note on Monday, March 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Broadstone Net Lease currently has a consensus rating of "Moderate Buy" and an average price target of $18.67.

Broadstone Net Lease Stock Down 0.0%

NYSE:BNL traded down $0.00 on Friday, hitting $15.43. The stock had a trading volume of 2,962,579 shares, compared to its average volume of 1,211,475. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 17.73 and a beta of 1.04. The company has a fifty day moving average price of $16.11 and a two-hundred day moving average price of $16.29. 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 for the quarter, beating the consensus estimate of $0.20 by $0.16. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. The company had revenue of $112.13 million for the quarter, compared to analyst estimates of $109.80 million. As a group, analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

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 yield of 7.52%. Broadstone Net Lease's dividend payout ratio (DPR) is presently 190.16%.

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.