Dynamic Technology Lab Private Ltd Acquires New Stake in Broadstone Net Lease, Inc. (NYSE:BNL)

Dynamic Technology Lab Private Ltd acquired a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 10,471 shares of the company’s stock, valued at approximately $166,000.

Several other institutional investors have also recently added to or reduced their stakes in BNL. FMR LLC grew its holdings in shares of Broadstone Net Lease by 84.0% during the third quarter. FMR LLC now owns 9,992 shares of the company’s stock worth $189,000 after buying an additional 4,562 shares in the last quarter. Stifel Financial Corp grew its stake in Broadstone Net Lease by 6.5% in the 3rd quarter. Stifel Financial Corp now owns 15,470 shares of the company’s stock worth $293,000 after acquiring an additional 939 shares during the period. Wellington Management Group LLP acquired a new position in Broadstone Net Lease in the 3rd quarter valued at $12,574,000. XTX Topco Ltd purchased a new position in shares of Broadstone Net Lease during the 3rd quarter worth $348,000. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Broadstone Net Lease by 0.9% during the third quarter. Public Employees Retirement System of Ohio now owns 270,542 shares of the company’s stock worth $5,127,000 after purchasing an additional 2,387 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Price Performance

NYSE BNL opened at $15.05 on Friday. Broadstone Net Lease, Inc. has a 1-year low of $13.96 and a 1-year high of $19.15. The firm has a market capitalization of $2.84 billion, a P/E ratio of 17.29 and a beta of 1.03. The business’s 50-day simple moving average is $16.29 and its 200-day simple moving average is $16.76.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $109.80 million. On average, equities research analysts expect that Broadstone Net Lease, Inc. will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.29 per share. The ex-dividend date is Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a yield of 7.71%. Broadstone Net Lease’s dividend payout ratio (DPR) is 133.33%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BNL shares. Citizens Jmp upgraded Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. BMO Capital Markets set a $20.00 price objective on shares of Broadstone Net Lease and gave the company an “outperform” rating in a research note on Monday, March 24th. Finally, JMP Securities upgraded shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Broadstone Net Lease presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.83.

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.