Sawtooth Solutions LLC decreased its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 8.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,828 shares of the company’s stock after selling 1,238 shares during the quarter. Sawtooth Solutions LLC’s holdings in Broadstone Net Lease were worth $318,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. BlackRock Inc. grew its holdings in Broadstone Net Lease by 3.5% in the 3rd quarter. BlackRock Inc. now owns 12,488,586 shares of the company’s stock valued at $309,843,000 after buying an additional 422,843 shares during the period. First Horizon Advisors Inc. purchased a new stake in Broadstone Net Lease in the 3rd quarter valued at about $75,000. Mackenzie Financial Corp purchased a new stake in Broadstone Net Lease in the 3rd quarter valued at about $216,000. Russell Investments Group Ltd. purchased a new stake in Broadstone Net Lease in the 3rd quarter valued at about $234,000. Finally, Daiwa Securities Group Inc. grew its holdings in Broadstone Net Lease by 4.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 42,688 shares of the company’s stock valued at $1,059,000 after buying an additional 1,687 shares during the period. Institutional investors own 73.07% of the company’s stock.
Separately, Zacks Investment Research upgraded Broadstone Net Lease from a “sell” rating to a “hold” rating in a report on Monday, December 13th. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $26.57.
Broadstone Net Lease (NYSE:BNL) last issued its earnings results on Sunday, October 31st. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.02. Broadstone Net Lease had a return on equity of 3.40% and a net margin of 23.73%. During the same quarter in the previous year, the company posted $0.44 earnings per share. Research analysts expect that Broadstone Net Lease, Inc. will post 1.38 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, January 15th. Investors of record on Friday, December 31st will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 4.45%. The ex-dividend date is Thursday, December 30th. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 185.97%.
Broadstone Net Lease Profile
BNL is an internally-managed REIT that acquires, owns, and manages primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. The Company utilizes an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting.
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