Broadstone Net Lease, Inc. $BNL Shares Newly Bought by Vise Technologies Inc.

Vise Technologies Inc. acquired a new stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 58,094 shares of the company’s stock, valued at approximately $1,075,000.

Several other large investors have also recently made changes to their positions in BNL. BlackRock Inc. purchased a new stake in shares of Broadstone Net Lease in the second quarter worth about $712,332,000. Dimensional Fund Advisors LP boosted its stake in Broadstone Net Lease by 4.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,696,795 shares of the company’s stock valued at $49,273,000 after buying an additional 103,091 shares during the last quarter. Alyeska Investment Group L.P. boosted its stake in Broadstone Net Lease by 7.8% during the second quarter. Alyeska Investment Group L.P. now owns 2,050,198 shares of the company’s stock valued at $42,378,000 after buying an additional 148,533 shares during the last quarter. Bank of America Corp DE boosted its stake in Broadstone Net Lease by 8.7% during the first quarter. Bank of America Corp DE now owns 2,231,816 shares of the company’s stock valued at $40,775,000 after buying an additional 178,546 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Broadstone Net Lease during the second quarter valued at approximately $39,745,000. 89.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on BNL shares. Cantor Fitzgerald cut their price target on Broadstone Net Lease from $24.00 to $21.00 and set an “overweight” rating for the company in a report on Friday, October 30th. The Goldman Sachs Group decreased their price objective on Broadstone Net Lease from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Monday, November 2nd. Wall Street Zen cut Broadstone Net Lease from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. Truist Financial upgraded Broadstone Net Lease from a “hold” rating to a “buy” rating and lowered their target price for the company from $22.00 to $21.00 in a research report on Thursday, October 1st. Finally, KeyCorp reissued an “overweight” rating on shares of Broadstone Net Lease in a report on Tuesday, September 15th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Insiders Place Their Bets

In related news, Director Richard Imperiale acquired 5,000 shares of Broadstone Net Lease stock in a transaction on Thursday, August 20th. The shares were bought at an average cost of $21.22 per share, with a total value of $106,100.00. Following the completion of the purchase, the director directly owned 26,250 shares of the company’s stock, valued at $557,025. The trade was a 23.53% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.02% of the stock is owned by insiders.

Broadstone Net Lease Stock Up 0.1%

Shares of NYSE:BNL opened at $17.53 on Monday. The firm has a fifty day simple moving average of $18.79 and a two-hundred day simple moving average of $19.83. Broadstone Net Lease, Inc. has a 52 week low of $16.70 and a 52 week high of $23.10. The stock has a market capitalization of $3.36 billion, a P/E ratio of 23.06 and a beta of 0.91.

Broadstone Net Lease (NYSE:BNL) last announced its earnings results on Wednesday, October 28th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). The business had revenue of $121.87 million for the quarter, compared to analysts’ expectations of $122.19 million. Broadstone Net Lease had a net margin of 30.26% and a return on equity of 4.86%. On average, analysts expect that Broadstone Net Lease, Inc. will post 1.51 earnings per share for the current year.

Broadstone Net Lease Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be given a $0.2950 dividend. This is an increase from Broadstone Net Lease’s previous quarterly dividend of $0.2925. This represents a $1.18 annualized dividend and a yield of 6.7%. The ex-dividend date is Thursday, December 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is 155.26%.

Broadstone Net Lease Company Profile

Broadstone Net Lease, Inc is an internally managed real estate investment trust that acquires, owns and manages commercial properties leased to businesses under long-term net lease agreements. Its tenants generally assume responsibility for property expenses such as taxes, insurance and maintenance.

The company’s portfolio spans property types including industrial, healthcare, retail and office, with properties primarily in the United States and also in Canada. Broadstone was founded in 2007 and is headquartered in Rochester, New York.