Greenland Capital Management LP Buys New Shares in Broadstone Net Lease, Inc. (NYSE:BNL)

Greenland Capital Management LP purchased a new stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) during the fourth quarter, Holdings Channel reports. The firm purchased 17,696 shares of the company’s stock, valued at approximately $281,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. raised its holdings in shares of Broadstone Net Lease by 73,833.3% during the 4th quarter. Federated Hermes Inc. now owns 2,218 shares of the company’s stock valued at $35,000 after buying an additional 2,215 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Broadstone Net Lease by 139.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock worth $43,000 after acquiring an additional 1,592 shares in the last quarter. Assetmark Inc. raised its stake in shares of Broadstone Net Lease by 345.1% during the fourth quarter. Assetmark Inc. now owns 4,464 shares of the company’s stock worth $71,000 after acquiring an additional 3,461 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Broadstone Net Lease by 23.7% in the 4th quarter. Blue Trust Inc. now owns 4,827 shares of the company’s stock worth $77,000 after acquiring an additional 925 shares during the last quarter. Finally, FIL Ltd boosted its stake in shares of Broadstone Net Lease by 46.1% in the 4th quarter. FIL Ltd now owns 6,663 shares of the company’s stock valued at $106,000 after purchasing an additional 2,102 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Trading Down 4.5 %

Shares of NYSE:BNL opened at $14.62 on Wednesday. The company has a 50-day moving average price of $16.33 and a 200-day moving average price of $16.85. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 16.80 and a beta of 1.03. Broadstone Net Lease, Inc. has a 12 month low of $14.21 and a 12 month high of $19.15.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.16. The business had revenue of $112.13 million during the quarter, compared to analyst estimates of $109.80 million. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. As a group, research analysts forecast that Broadstone Net Lease, Inc. will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 7.94%. The ex-dividend date of this dividend is Monday, March 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 133.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BNL shares. BMO Capital Markets set a $20.00 target price on shares of Broadstone Net Lease and gave the stock an “outperform” rating in a research report on Monday, March 24th. Citizens Jmp upgraded Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Finally, JMP Securities upgraded Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $18.83.

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.