Broadstone Net Lease, Inc. (NYSE:BNL) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC grew its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 404.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 244,300 shares of the company’s stock after purchasing an additional 195,900 shares during the quarter. Renaissance Technologies LLC owned approximately 0.13% of Broadstone Net Lease worth $3,875,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Federated Hermes Inc. lifted its stake in shares of Broadstone Net Lease by 73,833.3% in the fourth quarter. Federated Hermes Inc. now owns 2,218 shares of the company’s stock worth $35,000 after buying an additional 2,215 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Broadstone Net Lease by 139.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock worth $43,000 after purchasing an additional 1,592 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Broadstone Net Lease by 345.1% during the 4th quarter. Assetmark Inc. now owns 4,464 shares of the company’s stock worth $71,000 after purchasing an additional 3,461 shares during the last quarter. Blue Trust Inc. grew its position in shares of Broadstone Net Lease by 23.7% in the fourth quarter. Blue Trust Inc. now owns 4,827 shares of the company’s stock valued at $77,000 after purchasing an additional 925 shares in the last quarter. Finally, FIL Ltd increased its holdings in shares of Broadstone Net Lease by 46.1% in the fourth quarter. FIL Ltd now owns 6,663 shares of the company’s stock valued at $106,000 after purchasing an additional 2,102 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets set a $20.00 price objective on Broadstone Net Lease and gave the stock an “outperform” rating in a research note on Monday, March 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.83.

Broadstone Net Lease Stock Performance

BNL stock opened at $16.15 on Wednesday. Broadstone Net Lease, Inc. has a one year low of $13.96 and a one year high of $19.15. The firm has a market cap of $3.05 billion, a PE ratio of 18.57 and a beta of 1.03. The firm’s 50 day moving average price is $16.35 and its 200-day moving average price is $16.63.

Broadstone Net Lease (NYSE:BNL) last posted its earnings results on Wednesday, February 19th. The company reported $0.36 EPS for the quarter, beating 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 company had revenue of $112.13 million for the quarter, compared to the consensus estimate of $109.80 million. Equities research analysts predict that Broadstone Net Lease, Inc. will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.29 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a yield of 7.18%. Broadstone Net Lease’s payout ratio is currently 133.33%.

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.