Systematic Financial Management LP Acquires 322,131 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Systematic Financial Management LP boosted its stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 43.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,069,837 shares of the company's stock after purchasing an additional 322,131 shares during the period. Systematic Financial Management LP owned approximately 0.57% of Broadstone Net Lease worth $16,968,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

BNL has been the topic of several recent research reports. BMO Capital Markets set a $20.00 price objective on shares of Broadstone Net Lease and gave the stock an "outperform" rating in a research note on Monday, March 24th. UBS Group decreased their price target on shares of Broadstone Net Lease from $18.00 to $17.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Truist Financial lifted their price target on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the stock a "hold" rating in a research note on Monday, May 5th. Finally, JMP Securities reissued a "market outperform" rating and set a $21.00 price objective on shares of Broadstone Net Lease in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Broadstone Net Lease currently has an average rating of "Moderate Buy" and an average price target of $18.67.

Broadstone Net Lease Trading Down 1.4%

Broadstone Net Lease stock traded down $0.22 during midday trading on Tuesday, hitting $15.95. The stock had a trading volume of 2,209,002 shares, compared to its average volume of 1,191,130. Broadstone Net Lease, Inc. has a 52-week low of $13.96 and a 52-week high of $19.15. The company has a market capitalization of $3.02 billion, a PE ratio of 18.33 and a beta of 1.04. The firm's fifty day moving average is $16.21 and its two-hundred day moving average is $16.34.

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 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 firm had revenue of $112.13 million during the quarter, compared to analysts' expectations of $109.80 million. As a group, equities research analysts predict that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Announces Dividend

The firm also recently declared 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 of this dividend is Monday, June 30th. This represents a $1.16 dividend on an annualized basis and a yield of 7.27%. Broadstone Net Lease's dividend payout ratio is presently 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.