Birch Capital Management LLC purchased a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 15,764 shares of the company’s stock, valued at approximately $288,000.
A number of other institutional investors and hedge funds have also bought and sold shares of BNL. JPMorgan Chase & Co. acquired a new stake in shares of Broadstone Net Lease in the 3rd quarter valued at $9,241,000. Morgan Stanley bought a new position in shares of Broadstone Net Lease in the third quarter valued at about $755,000. ExodusPoint Capital Management LP bought a new position in shares of Broadstone Net Lease in the third quarter valued at about $1,291,000. Point72 Hong Kong Ltd bought a new position in shares of Broadstone Net Lease in the third quarter valued at about $639,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Broadstone Net Lease in the third quarter valued at about $6,711,000. Hedge funds and other institutional investors own 61.05% of the company’s stock.
A number of research firms recently issued reports on BNL. Truist lifted their price target on Broadstone Net Lease from $19.00 to $20.00 in a report on Friday, December 11th. The Goldman Sachs Group began coverage on Broadstone Net Lease in a research report on Sunday, January 24th. They set a “buy” rating and a $23.00 target price for the company. Seven equities research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus price target of $20.67.
BNL stock traded up $0.07 during mid-day trading on Thursday, hitting $18.84. 417 shares of the company were exchanged, compared to its average volume of 427,655. The business has a 50 day simple moving average of $18.45 and a 200-day simple moving average of $18.04. Broadstone Net Lease, Inc. has a 1-year low of $15.90 and a 1-year high of $19.99.
Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings data on Thursday, February 25th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.02). As a group, research analysts expect that Broadstone Net Lease, Inc. will post 1.54 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Wednesday, March 31st will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 30th. This represents a $1.00 annualized dividend and a yield of 5.31%.
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.
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