194,766 Shares in Broadstone Net Lease, Inc. (NYSE:BNL) Acquired by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC purchased a new stake in Broadstone Net Lease, Inc. (NYSE:BNL) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 194,766 shares of the company’s stock, valued at approximately $3,691,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Millennium Management LLC raised its position in shares of Broadstone Net Lease by 709.4% during the second quarter. Millennium Management LLC now owns 3,177,459 shares of the company’s stock worth $50,426,000 after purchasing an additional 2,784,878 shares during the period. V3 Capital Management L.P. acquired a new stake in Broadstone Net Lease during the 1st quarter worth about $20,747,000. Lasalle Investment Management Securities LLC purchased a new stake in Broadstone Net Lease during the first quarter valued at about $18,226,000. Victory Capital Management Inc. boosted its holdings in shares of Broadstone Net Lease by 2,302.8% in the second quarter. Victory Capital Management Inc. now owns 1,073,735 shares of the company’s stock worth $17,040,000 after buying an additional 1,029,048 shares during the period. Finally, Janus Henderson Group PLC increased its position in shares of Broadstone Net Lease by 159.4% in the first quarter. Janus Henderson Group PLC now owns 1,394,892 shares of the company’s stock worth $21,858,000 after acquiring an additional 857,141 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Trading Up 0.4 %

BNL opened at $17.25 on Friday. The stock has a fifty day moving average price of $18.07 and a 200 day moving average price of $17.11. Broadstone Net Lease, Inc. has a 1 year low of $14.20 and a 1 year high of $19.15. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 22.70 and a beta of 1.12.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.15). Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.47%. The firm had revenue of $108.40 million for the quarter, compared to analyst estimates of $106.47 million. During the same quarter in the prior year, the firm earned $0.36 earnings per share. As a group, sell-side analysts forecast that Broadstone Net Lease, Inc. will post 1.39 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 Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.29 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 annualized dividend and a dividend yield of 6.72%. Broadstone Net Lease’s dividend payout ratio (DPR) is 152.63%.

Wall Street Analyst Weigh In

A number of research firms recently commented on BNL. Wedbush initiated coverage on shares of Broadstone Net Lease in a research note on Monday, August 19th. They issued an “outperform” rating and a $20.00 price objective for the company. The Goldman Sachs Group lifted their price target on Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, September 13th. Truist Financial increased their price objective on Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Finally, UBS Group started coverage on Broadstone Net Lease in a research note on Thursday, November 14th. They set a “neutral” rating and a $18.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $18.20.

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.