Sage Advisors LLC Has $17.68 Million Stock Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Sage Advisors LLC lifted its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 932,736 shares of the company’s stock after purchasing an additional 24,670 shares during the quarter. Broadstone Net Lease accounts for approximately 13.9% of Sage Advisors LLC’s investment portfolio, making the stock its 3rd biggest holding. Sage Advisors LLC’s holdings in Broadstone Net Lease were worth $17,675,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in Broadstone Net Lease by 257.5% during the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $33,000 after purchasing an additional 1,272 shares during the period. Quarry LP raised its holdings in Broadstone Net Lease by 93.1% in 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 period. Blue Trust Inc. raised its holdings in Broadstone Net Lease by 156.5% in the 3rd quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock valued at $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 third 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 last quarter. Finally, KBC Group NV boosted its holdings in shares of Broadstone Net Lease by 29.4% during the third quarter. KBC Group NV now owns 6,220 shares of the company’s stock worth $118,000 after acquiring an additional 1,413 shares during the period. 89.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BNL shares. UBS Group initiated coverage on shares of Broadstone Net Lease in a report on Thursday. They issued a “neutral” rating and a $18.00 price objective for the company. Wedbush initiated coverage on shares of Broadstone Net Lease in a research note on Monday, August 19th. They issued an “outperform” rating and a $20.00 price target on the stock. The Goldman Sachs Group upped their price objective on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Friday, September 13th. Finally, Truist Financial raised their price objective on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Broadstone Net Lease has a consensus rating of “Hold” and a consensus price target of $18.20.

Broadstone Net Lease Stock Up 1.6 %

Broadstone Net Lease stock opened at $17.20 on Friday. The company has a market capitalization of $3.24 billion, a PE ratio of 22.63 and a beta of 1.12. Broadstone Net Lease, Inc. has a twelve month low of $14.20 and a twelve month high of $19.15. The firm has a fifty day simple moving average of $18.19 and a two-hundred day simple moving average of $17.05.

Broadstone Net Lease (NYSE:BNL) last posted its earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.15). The company had revenue of $108.40 million for the quarter, compared to the consensus estimate 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 prior year, the company posted $0.36 EPS. As a group, equities analysts expect that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current fiscal year.

Broadstone Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.29 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 annualized dividend and a dividend yield of 6.74%. Broadstone Net Lease’s dividend payout ratio (DPR) is 152.63%.

Broadstone Net Lease Company 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.