Nomura Asset Management Co. Ltd. Grows Stock Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Nomura Asset Management Co. Ltd. boosted its holdings in Broadstone Net Lease, Inc. (NYSE:BNLGet Rating) by 5.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,500 shares of the company’s stock after buying an additional 6,400 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.08% of Broadstone Net Lease worth $3,313,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. First Horizon Advisors Inc. bought a new position in Broadstone Net Lease in the 3rd quarter valued at $75,000. First Mercantile Trust Co. bought a new position in Broadstone Net Lease in the 3rd quarter valued at $152,000. Van ECK Associates Corp boosted its holdings in Broadstone Net Lease by 25.7% in the 3rd quarter. Van ECK Associates Corp now owns 7,214 shares of the company’s stock valued at $179,000 after purchasing an additional 1,475 shares during the period. Neuberger Berman Group LLC bought a new position in Broadstone Net Lease in the 3rd quarter valued at $205,000. Finally, M&T Bank Corp bought a new position in Broadstone Net Lease in the 3rd quarter valued at $212,000. Institutional investors and hedge funds own 71.40% of the company’s stock.

NYSE BNL opened at $21.70 on Monday. Broadstone Net Lease, Inc. has a 52-week low of $18.41 and a 52-week high of $28.00. The company has a market capitalization of $3.55 billion, a P/E ratio of 32.88 and a beta of 1.20. The company has a fifty day moving average of $21.79 and a 200-day moving average of $23.91.

Broadstone Net Lease (NYSE:BNLGet Rating) last posted its quarterly earnings data on Monday, February 21st. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. Broadstone Net Lease had a net margin of 26.75% and a return on equity of 3.84%. During the same quarter in the prior year, the company posted $0.30 earnings per share. As a group, sell-side analysts predict that Broadstone Net Lease, Inc. will post 1.46 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 15th. Stockholders of record on Thursday, March 31st will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date is Wednesday, March 30th. Broadstone Net Lease’s dividend payout ratio is currently 160.61%.

Separately, Zacks Investment Research downgraded shares of Broadstone Net Lease from a “buy” rating to a “hold” rating in a report on Wednesday, March 16th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Broadstone Net Lease currently has a consensus rating of “Hold” and a consensus price target of $25.40.

In other Broadstone Net Lease news, SVP Roderick Pickney sold 4,000 shares of the business’s stock in a transaction on Tuesday, March 1st. The shares were sold at an average price of $21.50, for a total value of $86,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Laurier J. Lessard, Jr. sold 2,500 shares of the business’s stock in a transaction on Thursday, March 10th. The stock was sold at an average price of $21.20, for a total transaction of $53,000.00. The disclosure for this sale can be found here. Insiders own 0.84% of the company’s stock.

Broadstone Net Lease Company Profile (Get Rating)

BNL is an internally-managed REIT that acquires, owns, and manages primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. The Company utilizes an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting.

Further Reading

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Institutional Ownership by Quarter for Broadstone Net Lease (NYSE:BNL)

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