Sage Advisors LLC Acquires 24,670 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Sage Advisors LLC grew its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 932,736 shares of the company’s stock after buying an additional 24,670 shares during the quarter. Broadstone Net Lease makes up 13.9% of Sage Advisors LLC’s portfolio, making the stock its 3rd largest position. Sage Advisors LLC owned 0.49% of Broadstone Net Lease worth $17,675,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BNL. Russell Investments Group Ltd. increased its holdings in shares of Broadstone Net Lease by 7.0% in the first quarter. Russell Investments Group Ltd. now owns 112,984 shares of the company’s stock valued at $1,770,000 after purchasing an additional 7,384 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Broadstone Net Lease by 8.6% during the first quarter. ProShare Advisors LLC now owns 33,802 shares of the company’s stock worth $530,000 after acquiring an additional 2,677 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Broadstone Net Lease by 0.6% during the first quarter. Vanguard Group Inc. now owns 27,962,340 shares of the company’s stock valued at $438,170,000 after acquiring an additional 178,102 shares during the period. Edgestream Partners L.P. bought a new position in Broadstone Net Lease in the first quarter valued at about $1,587,000. Finally, Covestor Ltd boosted its holdings in Broadstone Net Lease by 53.4% in the first quarter. Covestor Ltd now owns 13,406 shares of the company’s stock valued at $210,000 after acquiring an additional 4,669 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Broadstone Net Lease Stock Performance

Shares of NYSE:BNL opened at $17.20 on Friday. The company has a 50 day moving average price of $18.19 and a two-hundred day moving average price of $17.05. The company has a market capitalization of $3.24 billion, a PE ratio of 22.63 and a beta of 1.12. Broadstone Net Lease, Inc. has a 52 week low of $14.20 and a 52 week high of $19.15.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.15). The business had revenue of $108.40 million for the quarter, compared to analyst estimates 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 period in the previous year, the business posted $0.36 EPS. On average, 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 disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 6.74%. The ex-dividend date is Tuesday, December 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 152.63%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a research report on Friday, September 13th. UBS Group began coverage on shares of Broadstone Net Lease in a research note on Thursday. They issued a “neutral” rating and a $18.00 price objective on the stock. Truist Financial lifted their target price on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Finally, Wedbush assumed coverage on Broadstone Net Lease in a research note on Monday, August 19th. They issued an “outperform” rating and a $20.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Broadstone Net Lease currently has a consensus rating of “Hold” and an average target price of $18.20.

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.