Balyasny Asset Management L.P. Invests $5.15 Million in Broadstone Net Lease, Inc. (NYSE:BNL)

Balyasny Asset Management L.P. purchased a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 324,576 shares of the company’s stock, valued at approximately $5,148,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BNL. Principal Financial Group Inc. boosted its holdings in Broadstone Net Lease by 1.6% during the fourth quarter. Principal Financial Group Inc. now owns 14,276,250 shares of the company’s stock worth $226,423,000 after purchasing an additional 227,833 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Broadstone Net Lease by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 4,860,444 shares of the company’s stock worth $77,103,000 after buying an additional 15,501 shares during the last quarter. Centersquare Investment Management LLC grew its holdings in shares of Broadstone Net Lease by 7.1% in the fourth quarter. Centersquare Investment Management LLC now owns 4,011,419 shares of the company’s stock valued at $63,621,000 after acquiring an additional 265,428 shares in the last quarter. Aew Capital Management L P increased its position in shares of Broadstone Net Lease by 2.3% during the fourth quarter. Aew Capital Management L P now owns 3,135,949 shares of the company’s stock valued at $49,736,000 after acquiring an additional 69,690 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Broadstone Net Lease by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,077,513 shares of the company’s stock worth $48,809,000 after purchasing an additional 71,709 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Broadstone Net Lease Stock Up 0.3 %

BNL stock opened at $16.33 on Friday. Broadstone Net Lease, Inc. has a twelve month low of $13.96 and a twelve month high of $19.15. The firm has a market capitalization of $3.08 billion, a PE ratio of 18.77 and a beta of 1.04. The stock has a 50-day simple moving average of $16.32 and a two-hundred day simple moving average of $16.43.

Broadstone Net Lease (NYSE:BNL) last posted its earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, topping 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 business had revenue of $112.13 million for the quarter, compared to analyst estimates of $109.80 million. On average, equities research analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $0.29 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.10%. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 190.16%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BNL. Truist Financial lifted their target price on Broadstone Net Lease from $17.00 to $18.00 and gave the stock a “hold” rating in a research note on Monday, May 5th. 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 note on Monday, March 24th. Finally, JMP Securities restated a “market outperform” rating and set a $21.00 price target on shares of Broadstone Net Lease in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Broadstone Net Lease has an average rating of “Moderate Buy” and an average price target 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.