Lazard Asset Management LLC Grows Stock Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Lazard Asset Management LLC lifted its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 34.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,592 shares of the company's stock after acquiring an additional 19,467 shares during the period. Lazard Asset Management LLC's holdings in Broadstone Net Lease were worth $1,214,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Lighthouse Investment Partners LLC bought a new stake in shares of Broadstone Net Lease during the fourth quarter valued at approximately $7,771,000. D. E. Shaw & Co. Inc. bought a new stake in Broadstone Net Lease in the 4th quarter worth approximately $183,000. Deutsche Bank AG grew its position in Broadstone Net Lease by 27.4% in the 4th quarter. Deutsche Bank AG now owns 245,444 shares of the company's stock worth $3,893,000 after purchasing an additional 52,718 shares during the period. Bridgefront Capital LLC bought a new stake in Broadstone Net Lease in the 4th quarter worth approximately $369,000. Finally, Balyasny Asset Management L.P. bought a new stake in Broadstone Net Lease in the 4th quarter worth approximately $5,148,000. Institutional investors own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BNL shares. 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 reaffirmed a "market outperform" rating and issued a $21.00 target price on shares of Broadstone Net Lease in a research report on Monday, May 5th. Truist Financial boosted their price objective on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the company a "hold" rating in a research report on Monday, May 5th. Finally, UBS Group cut 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Broadstone Net Lease currently has an average rating of "Moderate Buy" and a consensus price target of $18.67.

Broadstone Net Lease Stock Performance

BNL opened at $16.17 on Tuesday. Broadstone Net Lease, Inc. has a fifty-two week low of $13.96 and a fifty-two week high of $19.15. The firm's fifty day moving average is $16.22 and its 200 day moving average is $16.34. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 18.59 and a beta of 1.04.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $109.80 million. On average, equities research analysts predict that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

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 paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.17%. The ex-dividend date is Monday, June 30th. Broadstone Net Lease's dividend payout ratio (DPR) is 190.16%.

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.

Want to see what other hedge funds are holding BNL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadstone Net Lease, Inc. (NYSE:BNL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.