Martingale Asset Management L P Has $1.24 Million Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Martingale Asset Management L P boosted its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 304.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 65,218 shares of the company’s stock after buying an additional 49,100 shares during the period. Martingale Asset Management L P’s holdings in Broadstone Net Lease were worth $1,236,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of BNL. Price T Rowe Associates Inc. MD boosted its stake in shares of Broadstone Net Lease by 6.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 110,586 shares of the company’s stock valued at $1,733,000 after purchasing an additional 6,906 shares in the last quarter. Comerica Bank grew its stake in Broadstone Net Lease by 177.2% during the first quarter. Comerica Bank now owns 16,876 shares of the company’s stock worth $264,000 after buying an additional 10,788 shares during the last quarter. Arden Trust Co acquired a new stake in shares of Broadstone Net Lease during the second quarter worth approximately $180,000. O Keefe Stevens Advisory Inc. bought a new position in shares of Broadstone Net Lease in the second quarter valued at approximately $256,000. Finally, Strategic Advocates LLC boosted its holdings in shares of Broadstone Net Lease by 4.1% in the 2nd quarter. Strategic Advocates LLC now owns 24,116 shares of the company’s stock worth $383,000 after acquiring an additional 953 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Broadstone Net Lease Stock Down 0.1 %

Shares of BNL opened at $17.51 on Monday. The stock’s fifty day simple moving average is $17.94 and its 200-day simple moving average is $17.20. The firm has a market capitalization of $3.30 billion, a PE ratio of 23.04 and a beta of 1.12. Broadstone Net Lease, Inc. has a 12-month low of $14.20 and a 12-month high of $19.15.

Broadstone Net Lease (NYSE:BNL) last issued its 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 business had revenue of $108.40 million during the quarter, compared to the consensus estimate of $106.47 million. During the same period last year, the business posted $0.36 EPS. Analysts anticipate that Broadstone Net Lease, Inc. will post 1.39 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The business 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 $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.62%. The ex-dividend date is Tuesday, December 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 152.63%.

Wall Street Analysts Forecast Growth

BNL has been the subject of a number of recent analyst reports. Wedbush started coverage on Broadstone Net Lease in a report on Monday, August 19th. They set an “outperform” rating and a $20.00 price target for the company. UBS Group started coverage on Broadstone Net Lease in a research note on Thursday, November 14th. They issued a “neutral” rating and a $18.00 target price for the company. The Goldman Sachs Group upped their price target on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Friday, September 13th. Finally, Truist Financial raised their price objective on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Broadstone Net Lease presently has a consensus rating of “Hold” and a consensus target price of $18.20.

Broadstone Net Lease 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.