121,700 Broadstone Net Lease, Inc. $BNL Shares Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 192.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 184,834 shares of the company’s stock after purchasing an additional 121,700 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Broadstone Net Lease were worth $3,419,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Allworth Financial LP acquired a new stake in Broadstone Net Lease during the second quarter valued at approximately $34,000. Global Retirement Partners LLC acquired a new position in Broadstone Net Lease in the second quarter worth approximately $74,000. Nykredit A S bought a new stake in shares of Broadstone Net Lease during the 2nd quarter worth $91,000. EverSource Wealth Advisors LLC boosted its stake in shares of Broadstone Net Lease by 33.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 7,075 shares of the company’s stock worth $129,000 after acquiring an additional 1,788 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of Broadstone Net Lease by 38.1% during the 1st quarter. KBC Group NV now owns 7,352 shares of the company’s stock worth $134,000 after acquiring an additional 2,028 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Broadstone Net Lease Price Performance

NYSE:BNL opened at $17.64 on Tuesday. The stock has a market cap of $3.38 billion, a PE ratio of 23.21 and a beta of 0.91. Broadstone Net Lease, Inc. has a fifty-two week low of $16.70 and a fifty-two week high of $23.10. The stock’s 50-day moving average is $19.07 and its two-hundred day moving average is $19.85.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The company had revenue of $121.87 million during the quarter, compared to analysts’ expectations of $122.19 million. Broadstone Net Lease had a return on equity of 4.85% and a net margin of 30.26%. On average, equities research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be paid a $0.2950 dividend. The ex-dividend date is Thursday, December 31st. This represents a $1.18 annualized dividend and a yield of 6.7%. This is a boost from Broadstone Net Lease’s previous quarterly dividend of $0.2925. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 153.95%.

Insiders Place Their Bets

In related news, Director Richard Imperiale acquired 5,000 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were purchased at an average price of $21.22 per share, for a total transaction of $106,100.00. Following the purchase, the director owned 26,250 shares in the company, valued at $557,025. This represents a 23.53% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BNL. The Goldman Sachs Group cut their target price on Broadstone Net Lease from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Monday. Cantor Fitzgerald decreased their price target on Broadstone Net Lease from $24.00 to $21.00 and set an “overweight” rating for the company in a research report on Friday. Weiss Ratings lowered Broadstone Net Lease from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Wall Street Zen cut Broadstone Net Lease from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, BMO Capital Markets boosted their price objective on Broadstone Net Lease from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, July 10th. 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Broadstone Net Lease Company Profile

Broadstone Net Lease, Inc (NYSE: BNL) is a real estate investment trust (REIT) that owns and manages a diversified portfolio of primarily single-tenant commercial properties. The company generally leases its properties under long-term, triple-net agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

Broadstone’s portfolio includes properties used by healthcare providers, industrial and manufacturing companies, office-based businesses, restaurants and retail operators.