Harel Insurance Investments & Financial Services Ltd. Invests $35,000 in Broadstone Net Lease, Inc. (NYSE:BNL)

Harel Insurance Investments & Financial Services Ltd. acquired a new position in Broadstone Net Lease, Inc. (NYSE:BNLGet Rating) in the first quarter, HoldingsChannel reports. The institutional investor acquired 1,600 shares of the company’s stock, valued at approximately $35,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Bridgefront Capital LLC acquired a new position in shares of Broadstone Net Lease during the fourth quarter valued at $203,000. Cambria Investment Management L.P. boosted its holdings in shares of Broadstone Net Lease by 14.3% during the fourth quarter. Cambria Investment Management L.P. now owns 9,600 shares of the company’s stock valued at $238,000 after acquiring an additional 1,200 shares during the period. M&T Bank Corp boosted its holdings in shares of Broadstone Net Lease by 18.1% during the fourth quarter. M&T Bank Corp now owns 10,112 shares of the company’s stock valued at $251,000 after acquiring an additional 1,548 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Broadstone Net Lease by 69.8% during the fourth quarter. Van ECK Associates Corp now owns 12,250 shares of the company’s stock valued at $304,000 after acquiring an additional 5,036 shares during the period. Finally, New York State Teachers Retirement System acquired a new position in shares of Broadstone Net Lease during the fourth quarter valued at $330,000. Institutional investors and hedge funds own 78.66% of the company’s stock.

Broadstone Net Lease Stock Up 1.1 %

Shares of NYSE BNL opened at $22.11 on Tuesday. The firm’s 50-day simple moving average is $20.94 and its 200 day simple moving average is $21.51. Broadstone Net Lease, Inc. has a fifty-two week low of $18.96 and a fifty-two week high of $28.00. The stock has a market cap of $3.74 billion, a P/E ratio of 33.00 and a beta of 0.94.

Broadstone Net Lease (NYSE:BNLGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. Broadstone Net Lease had a net margin of 27.15% and a return on equity of 3.86%. During the same period in the previous year, the firm earned $0.31 EPS. On average, sell-side analysts anticipate that Broadstone Net Lease, Inc. will post 1.46 earnings per share for the current fiscal year.

Broadstone Net Lease Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were given a $0.27 dividend. The ex-dividend date was Wednesday, June 29th. This is a boost from Broadstone Net Lease’s previous quarterly dividend of $0.27. This represents a $1.08 annualized dividend and a yield of 4.88%. Broadstone Net Lease’s payout ratio is 161.20%.

Analyst Upgrades and Downgrades

BNL has been the subject of several analyst reports. Morgan Stanley reduced their price target on shares of Broadstone Net Lease from $25.00 to $21.00 and set an “equal weight” rating for the company in a report on Tuesday, July 12th. Truist Financial cut their price objective on shares of Broadstone Net Lease from $25.00 to $22.00 and set a “hold” rating on the stock in a research note on Tuesday, June 21st. Finally, The Goldman Sachs Group cut their price objective on shares of Broadstone Net Lease from $25.00 to $22.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 15th.

Broadstone Net Lease 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.

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

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