Ritholtz Wealth Management Increases Stock Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Ritholtz Wealth Management increased its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 6.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,766 shares of the company’s stock after purchasing an additional 1,580 shares during the period. Ritholtz Wealth Management’s holdings in Broadstone Net Lease were worth $488,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of BNL. Evermay Wealth Management LLC boosted its position in Broadstone Net Lease by 1.2% during the 2nd quarter. Evermay Wealth Management LLC now owns 48,509 shares of the company’s stock valued at $774,000 after acquiring an additional 579 shares in the last quarter. Xponance Inc. lifted its stake in shares of Broadstone Net Lease by 5.1% during the 2nd quarter. Xponance Inc. now owns 11,922 shares of the company’s stock worth $189,000 after purchasing an additional 580 shares during the last quarter. Strategic Advocates LLC boosted its position in Broadstone Net Lease by 4.1% during the second quarter. Strategic Advocates LLC now owns 24,116 shares of the company’s stock valued at $383,000 after purchasing an additional 953 shares in the last quarter. HB Wealth Management LLC grew its stake in Broadstone Net Lease by 4.8% in the second quarter. HB Wealth Management LLC now owns 21,178 shares of the company’s stock valued at $336,000 after purchasing an additional 967 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in Broadstone Net Lease by 2.1% in the second quarter. Arizona State Retirement System now owns 52,549 shares of the company’s stock worth $834,000 after purchasing an additional 1,086 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

BNL has been the topic of a number of analyst reports. Truist Financial lifted their price objective on shares of 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 price target on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, September 13th. Finally, Wedbush assumed coverage on Broadstone Net Lease in a research report on Monday, August 19th. They set an “outperform” rating and a $20.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Broadstone Net Lease has an average rating of “Hold” and an average target price of $18.00.

Broadstone Net Lease Trading Up 1.2 %

NYSE BNL opened at $18.53 on Wednesday. Broadstone Net Lease, Inc. has a 12-month low of $13.68 and a 12-month high of $19.15. The company has a fifty day simple moving average of $18.21 and a two-hundred day simple moving average of $16.56. The stock has a market cap of $3.49 billion, a P/E ratio of 19.30 and a beta of 1.11.

Broadstone Net Lease (NYSE:BNL) last issued its earnings results on Tuesday, July 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The firm had revenue of $105.91 million during the quarter, compared to analysts’ expectations of $105.95 million. Broadstone Net Lease had a return on equity of 4.86% and a net margin of 36.78%. During the same quarter last year, the business earned $0.35 EPS. As a group, sell-side analysts forecast that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current year.

Broadstone Net Lease Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.29 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 annualized dividend and a yield of 6.26%. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 120.83%.

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.