Lazard Asset Management LLC Has $1.21 Million Stock Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Lazard Asset Management LLC boosted its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 34.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,592 shares of the company's stock after purchasing an additional 19,467 shares during the period. Lazard Asset Management LLC's holdings in Broadstone Net Lease were worth $1,214,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BNL. Barclays PLC lifted its stake in Broadstone Net Lease by 131.1% during the third quarter. Barclays PLC now owns 318,142 shares of the company's stock worth $6,028,000 after purchasing an additional 180,456 shares during the last quarter. Tallon Kerry Patrick bought a new stake in Broadstone Net Lease during the fourth quarter worth $4,669,000. Prairiewood Capital LLC lifted its stake in Broadstone Net Lease by 0.3% during the fourth quarter. Prairiewood Capital LLC now owns 317,344 shares of the company's stock worth $5,033,000 after purchasing an additional 994 shares during the last quarter. Perpetual Ltd lifted its stake in shares of Broadstone Net Lease by 5.8% in the 4th quarter. Perpetual Ltd now owns 88,319 shares of the company's stock valued at $1,401,000 after acquiring an additional 4,830 shares during the last quarter. Finally, Cetera Trust Company N.A lifted its stake in shares of Broadstone Net Lease by 21.6% in the 4th quarter. Cetera Trust Company N.A now owns 14,350 shares of the company's stock valued at $228,000 after acquiring an additional 2,550 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Broadstone Net Lease Trading Down 0.0%

NYSE:BNL traded down $0.00 during trading hours on Friday, hitting $15.43. 2,962,579 shares of the company were exchanged, compared to its average volume of 1,211,475. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 17.73 and a beta of 1.04. Broadstone Net Lease, Inc. has a one year low of $13.96 and a one year high of $19.15. The company has a fifty day simple moving average of $16.11 and a 200 day simple moving average of $16.29.

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 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 firm had revenue of $112.13 million during the quarter, compared to the consensus estimate of $109.80 million. Equities 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 firm also recently declared 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 of this dividend is Monday, June 30th. This represents a $1.16 dividend on an annualized basis and a yield of 7.52%. Broadstone Net Lease's payout ratio is currently 190.16%.

Analysts Set New Price Targets

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

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.