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

Jane Street Group LLC cut its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 27.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 141,134 shares of the company's stock after selling 54,548 shares during the quarter. Jane Street Group LLC owned about 0.07% of Broadstone Net Lease worth $2,238,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Federated Hermes Inc. grew its holdings in Broadstone Net Lease by 73,833.3% in the 4th quarter. Federated Hermes Inc. now owns 2,218 shares of the company's stock valued at $35,000 after buying an additional 2,215 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Broadstone Net Lease by 139.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company's stock worth $43,000 after buying an additional 1,592 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Broadstone Net Lease by 192.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,914 shares of the company's stock worth $46,000 after buying an additional 1,918 shares during the last quarter. Quarry LP acquired a new stake in shares of Broadstone Net Lease during the fourth quarter valued at about $57,000. Finally, Assetmark Inc. boosted its stake in shares of Broadstone Net Lease by 345.1% during the fourth quarter. Assetmark Inc. now owns 4,464 shares of the company's stock valued at $71,000 after purchasing an additional 3,461 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Broadstone Net Lease Price Performance

Broadstone Net Lease stock traded up $0.02 during trading hours on Monday, reaching $16.17. The company had a trading volume of 1,373,094 shares, compared to its average volume of 1,184,994. The company has a 50-day moving average price of $16.23 and a 200 day moving average price of $16.35. The firm 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, Inc. has a 12-month low of $13.96 and a 12-month high of $19.15.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last issued its quarterly earnings data 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. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. The business had revenue of $112.13 million for the quarter, compared to the consensus estimate of $109.80 million. As a group, research analysts expect that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

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

Analyst Ratings Changes

A number of research firms recently commented on BNL. Truist Financial lifted their price objective on Broadstone Net Lease from $17.00 to $18.00 and gave the stock a "hold" rating in a research note 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 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, BMO Capital Markets set a $20.00 price objective on Broadstone Net Lease and gave the company an "outperform" rating in a report on Monday, March 24th. One analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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.