Broadstone Net Lease, Inc. (NYSE:BNL) Shares Bought by Systematic Financial Management LP

Systematic Financial Management LP raised its holdings in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 43.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,069,837 shares of the company's stock after buying an additional 322,131 shares during the quarter. Systematic Financial Management LP owned 0.57% of Broadstone Net Lease worth $16,968,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. ProShare Advisors LLC raised its position in Broadstone Net Lease by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 53,128 shares of the company's stock valued at $843,000 after purchasing an additional 17,481 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its stake in shares of Broadstone Net Lease by 4.0% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 28,342 shares of the company's stock valued at $452,000 after purchasing an additional 1,080 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of Broadstone Net Lease by 34.1% during the 4th quarter. Lazard Asset Management LLC now owns 76,592 shares of the company's stock worth $1,214,000 after buying an additional 19,467 shares during the period. Lighthouse Investment Partners LLC bought a new position in Broadstone Net Lease during the fourth quarter worth about $7,771,000. Finally, D. E. Shaw & Co. Inc. bought a new position in Broadstone Net Lease during the fourth quarter worth about $183,000. Institutional investors own 89.07% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Truist Financial boosted their price target on Broadstone Net Lease from $17.00 to $18.00 and gave the company a "hold" rating in a report on Monday, May 5th. BMO Capital Markets set a $20.00 price target on Broadstone Net Lease and gave the company an "outperform" rating in a research note on Monday, March 24th. UBS Group dropped their price target on Broadstone Net Lease from $18.00 to $17.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Finally, JMP Securities restated a "market outperform" rating and issued a $21.00 price objective on shares of Broadstone Net Lease in a report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Broadstone Net Lease presently has an average rating of "Moderate Buy" and a consensus target price of $18.67.

Broadstone Net Lease Stock Down 0.8%

Broadstone Net Lease stock traded down $0.13 during midday trading on Thursday, reaching $15.45. The stock had a trading volume of 892,354 shares, compared to its average volume of 1,193,938. Broadstone Net Lease, Inc. has a 52-week low of $13.96 and a 52-week high of $19.15. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 17.75 and a beta of 1.04. The company has a fifty day moving average of $16.18 and a 200 day moving average of $16.33.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, topping 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 company had revenue of $112.13 million for the quarter, compared to analysts' expectations of $109.80 million. Equities research analysts predict that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.

Broadstone Net Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 7.51%. The ex-dividend date of this dividend is Monday, June 30th. Broadstone Net Lease's dividend payout ratio is currently 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.