Jane Street Group LLC Reduces Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Jane Street Group LLC trimmed its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 27.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,134 shares of the company’s stock after selling 54,548 shares during the period. Jane Street Group LLC owned approximately 0.07% of Broadstone Net Lease worth $2,238,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rockefeller Capital Management L.P. grew its position in Broadstone Net Lease by 3.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 23,826 shares of the company’s stock worth $378,000 after purchasing an additional 892 shares during the last quarter. Aew Capital Management L P grew its position in Broadstone Net Lease by 2.3% during the 4th 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. Allspring Global Investments Holdings LLC grew its position in Broadstone Net Lease by 79.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 44,955 shares of the company’s stock worth $705,000 after purchasing an additional 19,839 shares during the last quarter. Sterling Capital Management LLC grew its position in Broadstone Net Lease by 807.5% during the 4th quarter. Sterling Capital Management LLC now owns 5,944 shares of the company’s stock worth $94,000 after purchasing an additional 5,289 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Broadstone Net Lease by 15.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,820,961 shares of the company’s stock worth $28,880,000 after purchasing an additional 237,083 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Broadstone Net Lease Stock Up 2.1%

Shares of NYSE:BNL opened at $16.12 on Friday. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 18.53 and a beta of 1.04. The firm’s 50-day simple moving average is $16.25 and its 200-day simple moving average is $16.38. Broadstone Net Lease, Inc. has a fifty-two week low of $13.96 and a fifty-two week high of $19.15.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.16. The firm had revenue of $112.13 million for the quarter, compared to the consensus estimate of $109.80 million. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. On average, research analysts forecast 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 will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 7.20%. The ex-dividend date is Monday, June 30th. Broadstone Net Lease’s dividend payout ratio is currently 190.16%.

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.