Public Employees Retirement System of Ohio Acquires 2,387 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Public Employees Retirement System of Ohio boosted its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 270,542 shares of the company’s stock after acquiring an additional 2,387 shares during the period. Public Employees Retirement System of Ohio owned 0.14% of Broadstone Net Lease worth $5,127,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of Broadstone Net Lease by 257.5% during the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $33,000 after purchasing an additional 1,272 shares during the last quarter. Quarry LP raised its stake in Broadstone Net Lease by 93.1% during the second quarter. Quarry LP now owns 2,556 shares of the company’s stock valued at $41,000 after buying an additional 1,232 shares during the last quarter. Blue Trust Inc. boosted its holdings in 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 acquiring an additional 2,381 shares in the last quarter. US Bancorp DE grew its stake in shares of Broadstone Net Lease by 636.6% in the third quarter. US Bancorp DE now owns 3,941 shares of the company’s stock worth $75,000 after acquiring an additional 3,406 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of Broadstone Net Lease by 29.4% during the third quarter. KBC Group NV now owns 6,220 shares of the company’s stock valued at $118,000 after acquiring an additional 1,413 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

BNL has been the topic of several recent analyst reports. Wedbush began coverage on shares of Broadstone Net Lease in a research report on Monday, August 19th. They set an “outperform” rating and a $20.00 price objective on the stock. The Goldman Sachs Group raised their price target on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a research report on Friday, September 13th. Finally, UBS Group assumed coverage on Broadstone Net Lease in a research report on Thursday, November 14th. They issued a “neutral” rating and a $18.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $18.20.

Broadstone Net Lease Stock Down 0.2 %

Shares of BNL stock opened at $16.90 on Friday. The company has a 50 day moving average price of $17.63 and a 200-day moving average price of $17.31. Broadstone Net Lease, Inc. has a 52 week low of $14.20 and a 52 week high of $19.15. The firm has a market capitalization of $3.19 billion, a PE ratio of 22.24 and a beta of 1.10.

Broadstone Net Lease (NYSE:BNL) last announced its earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The company had revenue of $108.40 million for the quarter, compared to analysts’ expectations 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 firm posted $0.36 earnings per share. Analysts anticipate that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.29 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 annualized dividend and a yield of 6.86%. 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.