OVERSEA CHINESE BANKING Corp Ltd Has $3.42 Million Stake in Broadstone Net Lease, Inc. (NYSE:BNL)

OVERSEA CHINESE BANKING Corp Ltd lowered its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 2.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 180,495 shares of the company’s stock after selling 3,912 shares during the period. OVERSEA CHINESE BANKING Corp Ltd owned approximately 0.10% of Broadstone Net Lease worth $3,420,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. GAMMA Investing LLC boosted its stake in shares of Broadstone Net Lease by 257.5% in the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $33,000 after buying an additional 1,272 shares during the period. Quarry LP grew its holdings in shares of Broadstone Net Lease by 93.1% during the 2nd quarter. Quarry LP now owns 2,556 shares of the company’s stock worth $41,000 after purchasing an additional 1,232 shares in the last quarter. Blue Trust Inc. increased its position in shares of Broadstone Net Lease by 156.5% in the third 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. US Bancorp DE raised its stake in Broadstone Net Lease by 636.6% in the third quarter. US Bancorp DE now owns 3,941 shares of the company’s stock valued at $75,000 after purchasing an additional 3,406 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Broadstone Net Lease by 35.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,314 shares of the company’s stock worth $138,000 after purchasing an additional 1,908 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Stock Performance

Shares of NYSE:BNL opened at $17.19 on Wednesday. Broadstone Net Lease, Inc. has a 52-week low of $14.20 and a 52-week high of $19.15. The company has a market capitalization of $3.24 billion, a PE ratio of 22.62 and a beta of 1.12. The company has a fifty day moving average of $18.27 and a 200-day moving average of $17.02.

Broadstone Net Lease (NYSE:BNL) last posted its earnings results on Wednesday, October 30th. The company reported $0.19 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 net margin of 33.56% and a return on equity of 4.47%. During the same quarter in the prior year, the business posted $0.36 earnings per share. On average, equities analysts forecast that Broadstone Net Lease, Inc. will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 6.75%. The ex-dividend date of this dividend is Tuesday, December 31st. Broadstone Net Lease’s payout ratio is 152.63%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BNL shares. 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 target price for the company. Truist Financial upped their target price 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. Finally, The Goldman Sachs Group lifted their price target on Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Broadstone Net Lease presently has an average rating of “Hold” and a consensus price target of $18.25.

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.