Bank of Montreal Can Has $5.06 Million Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Bank of Montreal Can increased its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 565.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 268,783 shares of the company’s stock after acquiring an additional 228,392 shares during the period. Bank of Montreal Can owned about 0.14% of Broadstone Net Lease worth $5,064,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Evermay Wealth Management LLC increased its stake 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 worth $774,000 after purchasing an additional 579 shares in the last quarter. Xponance Inc. increased its stake in 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 in the last quarter. Cerity Partners LLC increased its stake in Broadstone Net Lease by 2.2% during the 3rd quarter. Cerity Partners LLC now owns 40,480 shares of the company’s stock worth $767,000 after purchasing an additional 886 shares in the last quarter. Strategic Advocates LLC increased its stake in Broadstone Net Lease by 4.1% during the 2nd quarter. Strategic Advocates LLC now owns 24,116 shares of the company’s stock worth $383,000 after purchasing an additional 953 shares in the last quarter. Finally, HB Wealth Management LLC boosted its position in Broadstone Net Lease by 4.8% during the 2nd quarter. HB Wealth Management LLC now owns 21,178 shares of the company’s stock worth $336,000 after acquiring an additional 967 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Trading Down 0.6 %

BNL opened at $17.17 on Wednesday. Broadstone Net Lease, Inc. has a 1-year low of $14.20 and a 1-year high of $19.15. The stock’s fifty day simple moving average is $17.91 and its 200 day simple moving average is $17.22. The stock has a market cap of $3.24 billion, a PE ratio of 22.59 and a beta of 1.10.

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

Broadstone Net Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 6.76%. The ex-dividend date of this dividend is Tuesday, December 31st. Broadstone Net Lease’s payout ratio is 152.63%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Truist Financial upped 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. UBS Group assumed coverage on Broadstone Net Lease in a research report on Thursday, November 14th. They set a “neutral” rating and a $18.00 price target for the company. The Goldman Sachs Group upped their price target on Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Friday, September 13th. Finally, Wedbush assumed coverage on Broadstone Net Lease in a report on Monday, August 19th. They issued an “outperform” rating and a $20.00 price objective for the company. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $18.20.

About Broadstone Net Lease

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.