HGI Capital Management LLC Takes Position in Broadstone Net Lease, Inc. (NYSE:BNL)

HGI Capital Management LLC purchased a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 215,154 shares of the company’s stock, valued at approximately $4,077,000. Broadstone Net Lease accounts for 3.6% of HGI Capital Management LLC’s investment portfolio, making the stock its 12th largest holding. HGI Capital Management LLC owned 0.11% of Broadstone Net Lease as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC raised its holdings in shares of Broadstone Net Lease by 257.5% in the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $33,000 after buying an additional 1,272 shares during the last quarter. Quarry LP raised its stake in Broadstone Net Lease by 93.1% during the 2nd quarter. Quarry LP now owns 2,556 shares of the company’s stock valued at $41,000 after acquiring an additional 1,232 shares during the last quarter. Blue Trust Inc. lifted its position in Broadstone Net Lease by 156.5% during the 3rd quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock worth $74,000 after acquiring an additional 2,381 shares during the period. US Bancorp DE lifted its position in Broadstone Net Lease by 636.6% during the 3rd quarter. US Bancorp DE now owns 3,941 shares of the company’s stock worth $75,000 after acquiring an additional 3,406 shares during the period. Finally, KBC Group NV grew its stake in shares of Broadstone Net Lease by 29.4% in the 3rd quarter. KBC Group NV now owns 6,220 shares of the company’s stock valued at $118,000 after purchasing an additional 1,413 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BNL shares. The Goldman Sachs Group increased their price target on Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, September 13th. Wedbush started coverage on shares of Broadstone Net Lease in a report on Monday, August 19th. They issued an “outperform” rating and a $20.00 target price on the stock. Truist Financial increased their price target 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, UBS Group assumed coverage on Broadstone Net Lease in a report on Thursday, November 14th. They issued a “neutral” rating and a $18.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadstone Net Lease currently has a consensus rating of “Hold” and a consensus target price of $18.20.

Broadstone Net Lease Stock Up 0.5 %

Shares of NYSE BNL opened at $17.52 on Friday. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of 23.05 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. The firm has a 50-day moving average price of $17.99 and a 200 day moving average price of $17.17.

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

Broadstone Net Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 6.62%. The ex-dividend date is Tuesday, December 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is 152.63%.

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.