Price T Rowe Associates Inc. MD Boosts Stock Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Price T Rowe Associates Inc. MD raised its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 742,956 shares of the company's stock after acquiring an additional 31,284 shares during the period. Price T Rowe Associates Inc. MD owned about 0.39% of Broadstone Net Lease worth $11,784,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BNL. Barclays PLC boosted its stake in shares of Broadstone Net Lease by 131.1% in the 3rd quarter. Barclays PLC now owns 318,142 shares of the company's stock valued at $6,028,000 after purchasing an additional 180,456 shares in the last quarter. Franklin Resources Inc. boosted its position in Broadstone Net Lease by 66.8% during the third quarter. Franklin Resources Inc. now owns 574,124 shares of the company's stock valued at $10,512,000 after buying an additional 229,874 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Broadstone Net Lease by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 1,834,413 shares of the company's stock valued at $34,762,000 after buying an additional 84,509 shares during the last quarter. Canandaigua National Trust Co of Florida purchased a new position in shares of Broadstone Net Lease in the fourth quarter worth about $1,143,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Broadstone Net Lease by 30.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 466,782 shares of the company's stock worth $7,403,000 after buying an additional 108,907 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BNL shares. Truist Financial raised their price target on Broadstone Net Lease from $17.00 to $18.00 and gave the stock a "hold" rating in a research report on Monday. JMP Securities restated a "market outperform" rating and issued a $21.00 target price on shares of Broadstone Net Lease in a report on Monday. 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. Based on data from MarketBeat.com, Broadstone Net Lease presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.83.

Broadstone Net Lease Stock Down 0.8 %

Shares of BNL traded down $0.13 during mid-day trading on Thursday, hitting $16.14. 167,266 shares of the company's stock traded hands, compared to its average volume of 1,172,979. The firm has a market capitalization of $3.05 billion, a P/E ratio of 18.55 and a beta of 1.04. The business's 50-day moving average price is $16.34 and its 200-day moving average price is $16.47. 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 issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.36 EPS 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 analyst estimates of $109.80 million. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. Sell-side analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The company 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 dividend of $0.29 per share. The ex-dividend date is Monday, June 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.19%. 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.