Principal Financial Group Inc. Raises Stake in Broadstone Net Lease, Inc. (NYSE:BNL)

Principal Financial Group Inc. raised its position in Broadstone Net Lease, Inc. (NYSE:BNL) by 56,865.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,403,922 shares of the company’s stock after acquiring an additional 11,383,903 shares during the quarter. Principal Financial Group Inc. owned approximately 0.08% of Broadstone Net Lease worth $266,967,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Sandy Spring Bank purchased a new position in Broadstone Net Lease in the second quarter worth approximately $36,000. Van ECK Associates Corp purchased a new position in Broadstone Net Lease in the second quarter worth approximately $134,000. Steigerwald Gordon & Koch Inc. purchased a new position in Broadstone Net Lease in the second quarter worth approximately $208,000. Daiwa Securities Group Inc. purchased a new position in Broadstone Net Lease in the first quarter worth approximately $165,000. Finally, Ameritas Investment Partners Inc. lifted its stake in Broadstone Net Lease by 275.4% in the second quarter. Ameritas Investment Partners Inc. now owns 11,160 shares of the company’s stock worth $261,000 after acquiring an additional 8,187 shares during the last quarter. Institutional investors own 74.85% of the company’s stock.

Shares of Broadstone Net Lease stock opened at $26.42 on Wednesday. The firm’s fifty day simple moving average is $26.09 and its 200-day simple moving average is $22.62. The stock has a market capitalization of $4.20 billion and a price-to-earnings ratio of 56.21. Broadstone Net Lease, Inc. has a 12 month low of $15.90 and a 12 month high of $28.00.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings data on Monday, August 2nd. The company reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. Broadstone Net Lease had a net margin of 20.71% and a return on equity of 2.67%. On average, equities analysts expect that Broadstone Net Lease, Inc. will post 1.32 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Thursday, September 30th will be paid a $0.255 dividend. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $1.02 annualized dividend and a yield of 3.86%. Broadstone Net Lease’s dividend payout ratio is currently 72.34%.

BNL has been the subject of several recent analyst reports. JPMorgan Chase & Co. downgraded shares of Broadstone Net Lease from an “overweight” rating to a “neutral” rating and set a $25.00 price objective for the company. in a research report on Tuesday, June 15th. Truist Financial downgraded shares of Broadstone Net Lease to a “hold” rating and set a $27.00 price objective for the company. in a research report on Tuesday, August 24th. Morgan Stanley boosted their price objective on shares of Broadstone Net Lease from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 7th. The Goldman Sachs Group downgraded shares of Broadstone Net Lease from a “buy” rating to a “neutral” rating and set a $26.00 price objective for the company. in a research report on Thursday, June 17th. Finally, Truist Securities cut shares of Broadstone Net Lease from a “buy” rating to a “hold” rating and lifted their target price for the company from $25.00 to $27.00 in a report on Tuesday, August 24th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $24.75.

About Broadstone Net Lease

BNL is an internally-managed REIT that acquires, owns, and manages primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. The Company utilizes an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting.

Read More: Capital gains and your 401(k) or IRA

Want to see what other hedge funds are holding BNL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadstone Net Lease, Inc. (NYSE:BNL).

Institutional Ownership by Quarter for Broadstone Net Lease (NYSE:BNL)

Receive News & Ratings for Broadstone Net Lease Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadstone Net Lease and related companies with MarketBeat.com's FREE daily email newsletter.