GSA Capital Partners LLP Sells 65,257 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

GSA Capital Partners LLP lowered its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 78.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,055 shares of the company’s stock after selling 65,257 shares during the quarter. GSA Capital Partners LLP’s holdings in Broadstone Net Lease were worth $342,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Broadstone Net Lease by 0.6% in the first quarter. Vanguard Group Inc. now owns 27,962,340 shares of the company’s stock valued at $438,170,000 after purchasing an additional 178,102 shares in the last quarter. Millennium Management LLC increased its stake in shares of Broadstone Net Lease by 709.4% in the second quarter. Millennium Management LLC now owns 3,177,459 shares of the company’s stock valued at $50,426,000 after buying an additional 2,784,878 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Broadstone Net Lease by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 1,767,296 shares of the company’s stock valued at $28,047,000 after acquiring an additional 54,885 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Broadstone Net Lease by 159.4% in the first quarter. Janus Henderson Group PLC now owns 1,394,892 shares of the company’s stock valued at $21,858,000 after acquiring an additional 857,141 shares during the last quarter. Finally, V3 Capital Management L.P. bought a new position in Broadstone Net Lease in the first quarter valued at about $20,747,000. Institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

BNL has been the topic of a number of research analyst reports. UBS Group began coverage on Broadstone Net Lease in a research report on Thursday, November 14th. They set a “neutral” rating and a $18.00 price target on the stock. Wedbush started 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. Truist Financial boosted their price target on Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Friday, August 16th. Finally, The Goldman Sachs Group upped 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $18.20.

Broadstone Net Lease Stock Up 0.4 %

Shares of BNL opened at $17.25 on Friday. The business’s 50-day moving average price is $18.07 and its 200-day moving average price is $17.11. Broadstone Net Lease, Inc. has a twelve month low of $14.20 and a twelve month high of $19.15. The stock has a market cap of $3.25 billion, a PE ratio of 22.70 and a beta of 1.12.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.15). The company had revenue of $108.40 million during the quarter, compared to the consensus estimate of $106.47 million. Broadstone Net Lease had a return on equity of 4.47% and a net margin of 33.56%. During the same quarter last year, the company posted $0.36 earnings per share. Analysts expect that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current fiscal year.

Broadstone Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.72%. The ex-dividend date of this dividend is Tuesday, December 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 152.63%.

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.