Lighthouse Investment Partners LLC Purchases Shares of 490,000 Broadstone Net Lease, Inc. (NYSE:BNL)

Lighthouse Investment Partners LLC acquired a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 490,000 shares of the company's stock, valued at approximately $7,771,000. Lighthouse Investment Partners LLC owned 0.26% of Broadstone Net Lease as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in BNL. Rockefeller Capital Management L.P. lifted its holdings in Broadstone Net Lease by 3.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 23,826 shares of the company's stock valued at $378,000 after buying an additional 892 shares during the period. Aew Capital Management L P raised its position in shares of Broadstone Net Lease by 2.3% during the 4th 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 during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Broadstone Net Lease by 30.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 466,782 shares of the company's stock valued at $7,403,000 after purchasing an additional 108,907 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Broadstone Net Lease by 79.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 44,955 shares of the company's stock worth $705,000 after purchasing an additional 19,839 shares during the period. Finally, Sterling Capital Management LLC increased its holdings in Broadstone Net Lease by 807.5% in the fourth quarter. Sterling Capital Management LLC now owns 5,944 shares of the company's stock valued at $94,000 after purchasing an additional 5,289 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BNL shares. JMP Securities reaffirmed a "market outperform" rating and issued a $21.00 target price on shares of Broadstone Net Lease in a research note on Monday, May 5th. UBS Group decreased their price target on shares of Broadstone Net Lease from $18.00 to $17.00 and set a "neutral" rating for the company in a report on Tuesday. BMO Capital Markets set a $20.00 price objective on Broadstone Net Lease and gave the stock an "outperform" rating in a research note on Monday, March 24th. Finally, Truist Financial lifted their target price on Broadstone Net Lease from $17.00 to $18.00 and gave the stock a "hold" rating in a report on Monday, May 5th. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $18.67.

Broadstone Net Lease Trading Down 0.3%

Shares of Broadstone Net Lease stock traded down $0.04 during trading on Friday, reaching $16.11. The stock had a trading volume of 1,870,342 shares, compared to its average volume of 1,180,426. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 18.51 and a beta of 1.04. The stock has a fifty day moving average price of $16.25 and a two-hundred day moving average price of $16.38. Broadstone Net Lease, Inc. has a 52 week low of $13.96 and a 52 week high of $19.15.

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

Broadstone Net Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $0.29 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.20%. Broadstone Net Lease's payout ratio is 190.16%.

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.