Mirae Asset Global Investments Co. Ltd. Boosts Stake in Broadstone Net Lease, Inc. (NYSE:BNL)

Mirae Asset Global Investments Co. Ltd. boosted its position in Broadstone Net Lease, Inc. (NYSE:BNL) by 35.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,314 shares of the company’s stock after acquiring an additional 1,908 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Broadstone Net Lease were worth $138,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in BNL. Courier Capital LLC purchased a new position in shares of Broadstone Net Lease during the 3rd quarter valued at about $1,658,000. WJ Interests LLC purchased a new stake in shares of Broadstone Net Lease in the 3rd quarter valued at $301,000. Blue Trust Inc. raised its position in Broadstone Net Lease by 156.5% in the 3rd quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock worth $74,000 after purchasing an additional 2,381 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Broadstone Net Lease by 18.7% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 40,914 shares of the company’s stock worth $775,000 after purchasing an additional 6,459 shares during the last quarter. Finally, AlphaMark Advisors LLC purchased a new stake in Broadstone Net Lease during the third quarter valued at about $354,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BNL shares. Truist Financial lifted their price target on Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Wedbush started coverage on shares of Broadstone Net Lease in a research report on Monday, August 19th. They issued an “outperform” rating and a $20.00 price objective on the stock. Finally, The Goldman Sachs Group raised their target price on Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $18.25.

Broadstone Net Lease Trading Up 0.5 %

Shares of BNL opened at $17.54 on Tuesday. Broadstone Net Lease, Inc. has a 1-year low of $14.20 and a 1-year high of $19.15. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 23.08 and a beta of 1.12. The firm’s 50-day moving average price is $18.38 and its 200-day moving average price is $16.86.

Broadstone Net Lease (NYSE:BNL) last announced its earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.15). The firm had revenue of $108.40 million during the quarter, compared to the consensus estimate of $106.47 million. Broadstone Net Lease had a return on equity of 4.45% and a net margin of 33.56%. During the same period in the prior year, the company posted $0.36 EPS. On average, research analysts forecast that Broadstone Net Lease, Inc. will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.16 annualized dividend and a dividend yield of 6.61%. Broadstone Net Lease’s payout ratio is 152.63%.

Broadstone Net Lease 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.