State of New Jersey Common Pension Fund D Has $1.95 Million Stake in Broadstone Net Lease, Inc. (NYSE:BNL)

State of New Jersey Common Pension Fund D increased its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 14.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 123,118 shares of the company’s stock after acquiring an additional 15,782 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Broadstone Net Lease were worth $1,953,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. boosted its position in Broadstone Net Lease by 156.5% during the 3rd quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock worth $74,000 after buying an additional 2,381 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Broadstone Net Lease by 35.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,314 shares of the company’s stock valued at $138,000 after acquiring an additional 1,908 shares during the last quarter. abrdn plc lifted its holdings in shares of Broadstone Net Lease by 10.5% during the third quarter. abrdn plc now owns 37,655 shares of the company’s stock worth $714,000 after purchasing an additional 3,592 shares during the period. Evermay Wealth Management LLC lifted its holdings in shares of Broadstone Net Lease by 1.4% during the third quarter. Evermay Wealth Management LLC now owns 49,186 shares of the company’s stock worth $937,000 after purchasing an additional 677 shares during the period. Finally, US Bancorp DE grew its stake in shares of Broadstone Net Lease by 636.6% in the third quarter. US Bancorp DE now owns 3,941 shares of the company’s stock worth $75,000 after purchasing an additional 3,406 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Broadstone Net Lease Trading Up 1.7 %

BNL stock opened at $16.23 on Tuesday. The firm has a market cap of $3.06 billion, a PE ratio of 18.65 and a beta of 1.11. The stock has a 50-day moving average price of $15.79 and a 200-day moving average price of $17.16. Broadstone Net Lease, Inc. has a 1-year low of $14.20 and a 1-year high of $19.15.

Broadstone Net Lease (NYSE:BNL) last issued 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 return on equity of 5.10% and a net margin of 37.62%. The business had revenue of $112.13 million during the quarter, compared to the consensus estimate of $109.80 million. On average, analysts forecast that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current year.

Broadstone Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.15%. Broadstone Net Lease’s payout ratio is presently 133.33%.

Wall Street Analyst Weigh In

BNL has been the subject of several analyst reports. Citizens Jmp raised Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. JMP Securities upgraded Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research report on Tuesday, December 17th. Finally, UBS Group assumed coverage on Broadstone Net Lease in a research note on Thursday, November 14th. They issued a “neutral” rating and a $18.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $18.60.

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.