Segall Bryant & Hamill LLC Makes New Investment in Broadstone Net Lease, Inc. (NYSE:BNL)

Segall Bryant & Hamill LLC bought a new stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 194,766 shares of the company’s stock, valued at approximately $3,691,000. Segall Bryant & Hamill LLC owned about 0.10% of Broadstone Net Lease at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC lifted its position in shares of 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 last quarter. Quarry LP raised its position in shares of Broadstone Net Lease by 93.1% during 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 in the last quarter. Blue Trust Inc. lifted its stake in Broadstone Net Lease by 156.5% during the third quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock worth $74,000 after purchasing an additional 2,381 shares during the last quarter. US Bancorp DE increased its stake in Broadstone Net Lease by 636.6% during the third quarter. US Bancorp DE now owns 3,941 shares of the company’s stock valued at $75,000 after purchasing an additional 3,406 shares during the last quarter. Finally, KBC Group NV raised 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 purchasing an additional 1,413 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Stock Up 0.4 %

Shares of NYSE BNL opened at $17.25 on Friday. The stock has a market cap of $3.25 billion, a P/E ratio of 22.70 and a beta of 1.12. The firm’s 50-day simple moving average is $18.07 and its 200 day simple moving average is $17.11. Broadstone Net Lease, Inc. has a fifty-two week low of $14.20 and a fifty-two week high of $19.15.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings data 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 during 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 last year, the business earned $0.36 earnings per share. On average, sell-side analysts anticipate that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.16 annualized dividend and a yield of 6.72%. Broadstone Net Lease’s dividend payout ratio is currently 152.63%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Truist Financial boosted their price objective on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Friday, August 16th. The Goldman Sachs Group raised their price target on Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, September 13th. UBS Group assumed coverage on Broadstone Net Lease in a research report on Thursday, November 14th. They issued a “neutral” rating and a $18.00 target price on the stock. Finally, Wedbush initiated coverage on shares of Broadstone Net Lease in a report on Monday, August 19th. They set an “outperform” rating and a $20.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $18.20.

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.