Broadstone Net Lease, Inc. (NYSE:BNL) Stock Position Raised by Zimmer Partners LP

Zimmer Partners LP lifted its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 550.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 325,000 shares of the company’s stock after acquiring an additional 275,000 shares during the quarter. Zimmer Partners LP’s holdings in Broadstone Net Lease were worth $5,154,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Federated Hermes Inc. boosted its stake in shares of Broadstone Net Lease by 73,833.3% during the 4th quarter. Federated Hermes Inc. now owns 2,218 shares of the company’s stock worth $35,000 after acquiring an additional 2,215 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Broadstone Net Lease by 139.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock worth $43,000 after acquiring an additional 1,592 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Broadstone Net Lease by 192.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,914 shares of the company’s stock worth $46,000 after acquiring an additional 1,918 shares in the last quarter. Quarry LP bought a new stake in shares of Broadstone Net Lease during the 4th quarter worth $57,000. Finally, Assetmark Inc. boosted its stake in shares of Broadstone Net Lease by 345.1% during the 4th quarter. Assetmark Inc. now owns 4,464 shares of the company’s stock worth $71,000 after acquiring an additional 3,461 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Broadstone Net Lease Trading Up 0.1%

Shares of NYSE:BNL opened at $16.17 on Tuesday. Broadstone Net Lease, Inc. has a 1 year low of $13.96 and a 1 year high of $19.15. The business has a fifty day simple moving average of $16.22 and a 200 day simple moving average of $16.34. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 18.59 and a beta of 1.04.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.16. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. The business had revenue of $112.13 million during the quarter, compared to analyst estimates of $109.80 million. On average, sell-side analysts forecast that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.

Broadstone Net Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued 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 dividend yield of 7.17%. Broadstone Net Lease’s dividend payout ratio is 190.16%.

Analyst Ratings Changes

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

Broadstone Net Lease 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.