PharVision Advisers LLC Invests $229,000 in Broadstone Net Lease, Inc. (NYSE:BNL)

PharVision Advisers LLC acquired a new position in Broadstone Net Lease, Inc. (NYSE:BNL) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 14,413 shares of the company’s stock, valued at approximately $229,000.

Several other hedge funds also recently made changes to their positions in the business. Principal Financial Group Inc. grew its stake in shares of Broadstone Net Lease by 1.6% in the 4th quarter. Principal Financial Group Inc. now owns 14,276,250 shares of the company’s stock worth $226,423,000 after purchasing an additional 227,833 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Broadstone Net Lease by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 4,860,444 shares of the company’s stock worth $77,103,000 after acquiring an additional 15,501 shares in the last quarter. Centersquare Investment Management LLC grew its position in Broadstone Net Lease by 7.1% during the fourth quarter. Centersquare Investment Management LLC now owns 4,011,419 shares of the company’s stock valued at $63,621,000 after purchasing an additional 265,428 shares in the last quarter. Aew Capital Management L P grew its position in Broadstone Net Lease by 2.3% during the fourth quarter. Aew Capital Management L P now owns 3,135,949 shares of the company’s stock valued at $49,736,000 after purchasing an additional 69,690 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Broadstone Net Lease by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,077,513 shares of the company’s stock valued at $48,809,000 after purchasing an additional 71,709 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Trading Down 1.0%

Shares of Broadstone Net Lease stock opened at $15.42 on Friday. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 17.72 and a beta of 1.04. Broadstone Net Lease, Inc. has a 1-year low of $13.96 and a 1-year high of $19.15. The firm has a fifty day simple moving average of $16.14 and a 200-day simple moving average of $16.32.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.16. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. The firm had revenue of $112.13 million for the quarter, compared to analyst estimates of $109.80 million. As a group, research analysts predict that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current year.

Broadstone Net Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.16 annualized dividend and a yield of 7.52%. Broadstone Net Lease’s dividend payout ratio (DPR) is 190.16%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Truist Financial lifted their target price on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Monday, May 5th. JMP Securities reiterated a “market outperform” rating and issued a $21.00 target price on shares of Broadstone Net Lease in a research note on Monday, May 5th. BMO Capital Markets set a $20.00 target price on shares of Broadstone Net Lease and gave the company an “outperform” rating in a research note on Monday, March 24th. Finally, UBS Group reduced their target price on shares of Broadstone Net Lease from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.67.

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.