Knights of Columbus Asset Advisors LLC Buys 60,732 Shares of Broadstone Net Lease, Inc. $BNL

Knights of Columbus Asset Advisors LLC lifted its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 80.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 136,326 shares of the company’s stock after purchasing an additional 60,732 shares during the period. Knights of Columbus Asset Advisors LLC owned 0.07% of Broadstone Net Lease worth $2,522,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Broadstone Net Lease during the 2nd quarter valued at about $712,332,000. Bank of New York Mellon Corp bought a new position in Broadstone Net Lease in the second quarter worth about $39,745,000. Wellington Management Group LLP bought a new position in Broadstone Net Lease in the second quarter worth about $35,709,000. Bank of America Corp DE bought a new position in Broadstone Net Lease in the second quarter worth about $32,978,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Broadstone Net Lease by 225.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,063,141 shares of the company’s stock worth $37,652,000 after buying an additional 1,428,251 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadstone Net Lease

In other Broadstone Net Lease news, Director Richard Imperiale bought 5,000 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was acquired at an average price of $21.22 per share, with a total value of $106,100.00. Following the completion of the purchase, the director owned 26,250 shares of the company’s stock, valued at approximately $557,025. This trade represents a 23.53% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.02% of the company’s stock.

Analyst Upgrades and Downgrades

BNL has been the topic of several research reports. Truist Financial raised Broadstone Net Lease from a “hold” rating to a “buy” rating and cut their price objective for the company from $22.00 to $21.00 in a research report on Thursday, October 1st. Wall Street Zen downgraded Broadstone Net Lease from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. KeyCorp reissued an “overweight” rating on shares of Broadstone Net Lease in a research report on Tuesday, September 15th. Weiss Ratings cut Broadstone Net Lease from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Finally, Cantor Fitzgerald dropped their price target on Broadstone Net Lease from $24.00 to $21.00 and set an “overweight” rating on the stock in a research report on Friday, October 30th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Broadstone Net Lease Price Performance

NYSE:BNL opened at $17.68 on Thursday. The firm’s 50-day moving average price is $18.60 and its 200-day moving average price is $19.82. The company has a market capitalization of $3.40 billion, a PE ratio of 23.27 and a beta of 0.91. Broadstone Net Lease, Inc. has a 1-year low of $16.70 and a 1-year high of $23.10.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). Broadstone Net Lease had a return on equity of 4.86% and a net margin of 30.26%. The business had revenue of $121.87 million during the quarter, compared to the consensus estimate of $122.19 million. Equities analysts anticipate that Broadstone Net Lease, Inc. will post 1.51 EPS for the current fiscal year.

Broadstone Net Lease Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be issued a $0.2950 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 6.7%. This is a boost from Broadstone Net Lease’s previous quarterly dividend of $0.2925. The ex-dividend date is Thursday, December 31st. Broadstone Net Lease’s dividend payout ratio is currently 155.26%.

About Broadstone Net Lease

Broadstone Net Lease, Inc. is an internally managed real estate investment trust that acquires, owns and manages commercial properties leased to businesses under long-term net lease agreements. Its tenants generally assume responsibility for property expenses such as taxes, insurance and maintenance. The company’s portfolio spans property types including industrial, healthcare, retail and office, with properties primarily in the United States and also in Canada. Broadstone was founded in 2007 and is headquartered in Rochester, New York.