Jane Street Group LLC Trims Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Jane Street Group LLC cut its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 27.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 141,134 shares of the company's stock after selling 54,548 shares during the period. Jane Street Group LLC owned about 0.07% of Broadstone Net Lease worth $2,238,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BNL. State of Alaska Department of Revenue grew its holdings in 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 valued at $1,432,000 after buying an additional 882 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake 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 worth $378,000 after purchasing an additional 892 shares in the last quarter. Corient Private Wealth LLC boosted its holdings 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 valued at $664,000 after purchasing an additional 907 shares during the last quarter. Blue Trust Inc. grew its position in shares of Broadstone Net Lease by 23.7% during the fourth quarter. Blue Trust Inc. now owns 4,827 shares of the company's stock valued at $77,000 after purchasing an additional 925 shares in the last quarter. Finally, Evermay Wealth Management LLC increased its holdings in shares of Broadstone Net Lease by 2.0% in the fourth 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 last quarter. Institutional investors own 89.07% of the company's stock.

Broadstone Net Lease Stock Down 2.0%

Shares of NYSE BNL traded down $0.33 during midday trading on Wednesday, hitting $15.64. The stock had a trading volume of 108,622 shares, compared to its average volume of 1,186,942. The stock has a 50 day simple moving average of $16.21 and a 200-day simple moving average of $16.34. The company has a market capitalization of $2.96 billion, a PE ratio of 17.97 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 posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, topping 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 firm had revenue of $112.13 million for the quarter, compared to the consensus estimate of $109.80 million. As a group, analysts expect that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal 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 paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 7.42%. The ex-dividend date is Monday, June 30th. Broadstone Net Lease's dividend payout ratio (DPR) is 190.16%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on BNL shares. Truist Financial upped 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. JMP Securities restated a "market outperform" rating and set a $21.00 price objective on shares of Broadstone Net Lease in a research report on Monday, May 5th. UBS Group decreased their price target on Broadstone Net Lease from $18.00 to $17.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Finally, BMO Capital Markets set a $20.00 price target on shares of Broadstone Net Lease and gave the company an "outperform" rating in a report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Broadstone Net Lease presently has an average rating of "Moderate Buy" and a consensus target price 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.