Broadstone Net Lease, Inc. (NYSE:BNL) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. grew its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 73,833.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,218 shares of the company’s stock after acquiring an additional 2,215 shares during the period. Federated Hermes Inc.’s holdings in Broadstone Net Lease were worth $35,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of BNL. EverSource Wealth Advisors LLC increased its holdings in Broadstone Net Lease by 139.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock valued at $43,000 after buying an additional 1,592 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Broadstone Net Lease by 345.1% in the 4th quarter. Assetmark Inc. now owns 4,464 shares of the company’s stock valued at $71,000 after acquiring an additional 3,461 shares during the last quarter. Blue Trust Inc. raised its position in shares of Broadstone Net Lease by 23.7% during the 4th quarter. Blue Trust Inc. now owns 4,827 shares of the company’s stock valued at $77,000 after acquiring an additional 925 shares in the last quarter. KBC Group NV lifted its stake in Broadstone Net Lease by 27.0% during the fourth quarter. KBC Group NV now owns 7,901 shares of the company’s stock worth $125,000 after purchasing an additional 1,681 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Broadstone Net Lease in the fourth quarter worth $166,000. Institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

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

Broadstone Net Lease Trading Up 0.9 %

Shares of NYSE:BNL opened at $16.09 on Friday. The firm’s 50 day moving average is $16.32 and its two-hundred day moving average is $16.66. The firm has a market capitalization of $3.04 billion, a P/E ratio of 18.49 and a beta of 1.03. Broadstone Net Lease, Inc. has a 52 week low of $13.96 and a 52 week high of $19.15.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly 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. The company had revenue of $112.13 million for the quarter, compared to analyst estimates of $109.80 million. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. Analysts predict that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.21%. Broadstone Net Lease’s dividend payout ratio is presently 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.