AlphaMark Advisors LLC Takes Position in Broadstone Net Lease, Inc. (NYSE:BNL)

AlphaMark Advisors LLC purchased a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 18,705 shares of the company’s stock, valued at approximately $354,000.

Several other large investors have also recently added to or reduced their stakes in BNL. Evermay Wealth Management LLC lifted 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 worth $774,000 after acquiring an additional 579 shares in the last quarter. Xponance Inc. lifted its position in shares of Broadstone Net Lease by 5.1% during the second 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. Strategic Advocates LLC boosted its stake in shares of Broadstone Net Lease by 4.1% in 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 during the period. HB Wealth Management LLC boosted its stake in shares of 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 period. Finally, Arizona State Retirement System grew its holdings in Broadstone Net Lease by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 52,549 shares of the company’s stock valued at $834,000 after purchasing an additional 1,086 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Broadstone Net Lease Stock Down 0.4 %

Shares of Broadstone Net Lease stock opened at $18.61 on Friday. The business has a 50-day moving average price of $18.27 and a 200 day moving average price of $16.59. Broadstone Net Lease, Inc. has a fifty-two week low of $13.68 and a fifty-two week high of $19.15. The firm has a market cap of $3.51 billion, a P/E ratio of 19.39 and a beta of 1.11.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.19 earnings per share 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 the consensus estimate of $105.95 million. Broadstone Net Lease had a net margin of 36.78% and a return on equity of 4.86%. During the same quarter last year, the firm posted $0.35 earnings per share. As a group, equities research analysts anticipate 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. Stockholders of record on Monday, September 30th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 6.23%. The ex-dividend date of this dividend was Monday, September 30th. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 120.83%.

Analyst Ratings Changes

BNL has been the subject of a number of analyst reports. Truist Financial upped their price objective on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Friday, August 16th. The Goldman Sachs Group increased their price target on Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, September 13th. Finally, Wedbush assumed coverage on Broadstone Net Lease in a report on Monday, August 19th. They set an “outperform” rating and a $20.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $18.00.

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.