Deutsche Bank AG Grows Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Deutsche Bank AG grew its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 27.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 245,444 shares of the company’s stock after buying an additional 52,718 shares during the period. Deutsche Bank AG’s holdings in Broadstone Net Lease were worth $3,893,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Principal Financial Group Inc. increased its position 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 buying an additional 227,833 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Broadstone Net Lease by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 4,860,444 shares of the company’s stock worth $77,103,000 after purchasing an additional 15,501 shares during the last quarter. Centersquare Investment Management LLC boosted its holdings in shares of Broadstone Net Lease by 7.1% during the fourth quarter. Centersquare Investment Management LLC now owns 4,011,419 shares of the company’s stock worth $63,621,000 after purchasing an additional 265,428 shares during the last quarter. Aew Capital Management L P boosted its holdings 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 worth $49,736,000 after purchasing an additional 69,690 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Broadstone Net Lease by 2.4% during 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. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BNL. JMP Securities restated a “market outperform” rating and set a $21.00 price objective on shares of Broadstone Net Lease in a report on Monday, May 5th. BMO Capital Markets set a $20.00 price objective on Broadstone Net Lease and gave the stock an “outperform” rating in a report on Monday, March 24th. Truist Financial raised their price objective on Broadstone Net Lease from $17.00 to $18.00 and gave the stock a “hold” rating in a report on Monday, May 5th. Finally, UBS Group decreased their price objective on Broadstone Net Lease from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.67.

Broadstone Net Lease Trading Up 0.1%

Shares of Broadstone Net Lease stock opened at $16.17 on Tuesday. Broadstone Net Lease, Inc. has a twelve month low of $13.96 and a twelve month high of $19.15. The stock has a market capitalization of $3.06 billion, a P/E ratio of 18.59 and a beta of 1.04. The business’s fifty day moving average price is $16.22 and its 200 day moving average price is $16.34.

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, 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 firm had revenue of $112.13 million for the quarter, compared to analysts’ expectations of $109.80 million. As a group, sell-side analysts predict that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.

Broadstone Net Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 7.17%. The ex-dividend date of this dividend is Monday, June 30th. Broadstone Net Lease’s payout ratio is currently 190.16%.

About Broadstone Net Lease

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.