Mercer Global Advisors Inc. ADV Invests $889,000 in Broadstone Net Lease, Inc. (NYSE:BNL)

Mercer Global Advisors Inc. ADV acquired a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 56,068 shares of the company's stock, valued at approximately $889,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BNL. Federated Hermes Inc. lifted its stake in Broadstone Net Lease by 73,833.3% during the fourth quarter. Federated Hermes Inc. now owns 2,218 shares of the company's stock worth $35,000 after purchasing an additional 2,215 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Broadstone Net Lease by 139.3% in the fourth 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 in the last quarter. Tower Research Capital LLC TRC grew its position in Broadstone Net Lease by 192.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,914 shares of the company's stock valued at $46,000 after acquiring an additional 1,918 shares during the last quarter. Quarry LP purchased a new position in shares of Broadstone Net Lease during the fourth quarter worth approximately $57,000. Finally, Assetmark Inc. lifted its holdings in shares of Broadstone Net Lease by 345.1% in the 4th quarter. Assetmark Inc. now owns 4,464 shares of the company's stock worth $71,000 after acquiring an additional 3,461 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Broadstone Net Lease Trading Up 0.3 %

Broadstone Net Lease stock opened at $16.33 on Friday. The firm has a market cap of $3.08 billion, a P/E ratio of 18.77 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. The firm has a 50-day moving average of $16.32 and a 200-day moving average of $16.43.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $112.13 million during the quarter, compared to analysts' expectations of $109.80 million. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. Research analysts forecast that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Monday, June 30th. This represents a $1.16 annualized dividend and a yield of 7.10%. Broadstone Net Lease's dividend payout ratio (DPR) is presently 190.16%.

Analyst Ratings Changes

A number of equities analysts recently commented on BNL shares. Truist Financial lifted their target price on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the stock a "hold" rating in a research report on Monday, May 5th. JMP Securities reissued 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. Finally, BMO Capital Markets set a $20.00 target price on Broadstone Net Lease and gave the company an "outperform" rating in a report on Monday, March 24th. One equities research 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.83.

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.

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