Broadstone Net Lease, Inc. (NYSE:BNL) Shares Sold by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC lowered its position in Broadstone Net Lease, Inc. (NYSE:BNL) by 5.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 184,077 shares of the company’s stock after selling 10,689 shares during the period. Segall Bryant & Hamill LLC’s holdings in Broadstone Net Lease were worth $2,919,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Brookfield Corp ON acquired a new stake in Broadstone Net Lease in the third quarter valued at $18,444,000. Wellington Management Group LLP acquired a new stake in Broadstone Net Lease in the 3rd quarter valued at about $12,574,000. Systematic Financial Management LP increased its holdings in Broadstone Net Lease by 298.1% during the 3rd quarter. Systematic Financial Management LP now owns 747,706 shares of the company’s stock valued at $14,169,000 after acquiring an additional 559,906 shares in the last quarter. Columbus Macro LLC acquired a new position in Broadstone Net Lease during the fourth quarter worth about $6,269,000. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Broadstone Net Lease by 220.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 538,743 shares of the company’s stock valued at $8,545,000 after purchasing an additional 370,598 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BNL has been the subject of a number of recent research reports. BMO Capital Markets set a $20.00 price objective on shares of Broadstone Net Lease and gave the stock an “outperform” rating in a research note on Monday. Citizens Jmp raised Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Finally, JMP Securities upgraded Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Broadstone Net Lease currently has a consensus rating of “Hold” and a consensus target price of $18.83.

Broadstone Net Lease Stock Performance

Shares of BNL opened at $17.07 on Friday. Broadstone Net Lease, Inc. has a fifty-two week low of $14.21 and a fifty-two week high of $19.15. The stock has a fifty day moving average of $16.29 and a two-hundred day moving average of $17.01. The company has a market capitalization of $3.22 billion, a PE ratio of 19.62 and a beta of 1.09.

Broadstone Net Lease (NYSE:BNL) last released its earnings results on Wednesday, February 19th. The company reported $0.36 EPS for the quarter, beating 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 firm had revenue of $112.13 million during the quarter, compared to analyst estimates of $109.80 million. As a group, equities research analysts forecast that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.29 per share. The ex-dividend date is Monday, March 31st. This represents a $1.16 annualized dividend and a dividend yield of 6.80%. Broadstone Net Lease’s payout ratio is currently 133.33%.

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.