Allspring Global Investments Holdings LLC Has $476,000 Stock Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Allspring Global Investments Holdings LLC reduced its position in Broadstone Net Lease, Inc. (NYSE:BNL) by 6.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,116 shares of the company’s stock after selling 1,863 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Broadstone Net Lease were worth $476,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BNL. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Broadstone Net Lease by 431.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,176,195 shares of the company’s stock valued at $18,431,000 after acquiring an additional 955,066 shares during the last quarter. Prevail Innovative Wealth Advisors LLC acquired a new position in shares of Broadstone Net Lease in the 1st quarter worth approximately $1,716,000. Legato Capital Management LLC acquired a new stake in Broadstone Net Lease during the 2nd quarter valued at $1,404,000. Sei Investments Co. increased its holdings in Broadstone Net Lease by 20.8% during the 2nd quarter. Sei Investments Co. now owns 545,556 shares of the company’s stock valued at $8,658,000 after purchasing an additional 94,092 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Broadstone Net Lease by 2,302.8% in the 2nd quarter. Victory Capital Management Inc. now owns 1,073,735 shares of the company’s stock valued at $17,040,000 after buying an additional 1,029,048 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Broadstone Net Lease Trading Down 0.8 %

Shares of BNL stock opened at $17.46 on Friday. The stock has a market cap of $3.29 billion, a P/E ratio of 22.97 and a beta of 1.11. The stock has a 50 day simple moving average of $18.38 and a 200 day simple moving average of $16.83. Broadstone Net Lease, Inc. has a 1 year low of $14.01 and a 1 year high of $19.15.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings results on Tuesday, July 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 4.45%. The company had revenue of $105.91 million during the quarter, compared to the consensus estimate of $105.95 million. During the same quarter last year, the firm posted $0.35 earnings per share. Analysts forecast that Broadstone Net Lease, Inc. will post 1.39 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 6.65%. The ex-dividend date is Tuesday, December 31st. Broadstone Net Lease’s payout ratio is presently 152.63%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BNL shares. Truist Financial raised their price target on Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. The Goldman Sachs Group lifted their target price on Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a research report on Friday, September 13th. Finally, Wedbush initiated coverage on Broadstone Net Lease in a research report on Monday, August 19th. They issued an “outperform” rating and a $20.00 target price on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $18.25.

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.