Sophron Capital Management L.P. Acquires New Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Sophron Capital Management L.P. acquired a new stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 360,672 shares of the company’s stock, valued at approximately $5,720,000. Broadstone Net Lease makes up 2.3% of Sophron Capital Management L.P.’s investment portfolio, making the stock its 18th largest position.

Several other institutional investors and hedge funds have also modified their holdings of BNL. Barclays PLC boosted its stake in shares of Broadstone Net Lease by 131.1% in the 3rd quarter. Barclays PLC now owns 318,142 shares of the company’s stock valued at $6,028,000 after purchasing an additional 180,456 shares in the last quarter. Tallon Kerry Patrick bought a new position in Broadstone Net Lease in the 4th quarter valued at approximately $4,669,000. Prairiewood Capital LLC boosted its position in Broadstone Net Lease by 0.3% in the fourth quarter. Prairiewood Capital LLC now owns 317,344 shares of the company’s stock valued at $5,033,000 after buying an additional 994 shares in the last quarter. Perpetual Ltd grew its stake in shares of Broadstone Net Lease by 5.8% during the fourth quarter. Perpetual Ltd now owns 88,319 shares of the company’s stock worth $1,401,000 after buying an additional 4,830 shares during the last quarter. Finally, Cetera Trust Company N.A grew its position in Broadstone Net Lease by 21.6% during the 4th quarter. Cetera Trust Company N.A now owns 14,350 shares of the company’s stock worth $228,000 after acquiring an additional 2,550 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Broadstone Net Lease Stock Down 0.3%

Shares of NYSE BNL opened at $16.11 on Monday. The company’s fifty day simple moving average is $16.23 and its 200 day simple moving average is $16.35. The firm has a market cap of $3.05 billion, a PE ratio of 18.51 and a beta of 1.04. Broadstone Net Lease, Inc. has a 12-month low of $13.96 and a 12-month high of $19.15.

Broadstone Net Lease (NYSE:BNL) last issued its earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.16. The company had revenue of $112.13 million for the quarter, compared to analysts’ expectations of $109.80 million. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. On average, equities analysts predict that Broadstone Net Lease, Inc. will post 1.43 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 Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.20%. The ex-dividend date of this dividend is Monday, June 30th. Broadstone Net Lease’s dividend payout ratio is currently 190.16%.

Analysts Set New Price Targets

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