Versor Investments LP Buys 5,583 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Versor Investments LP increased its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 14.6% during the fourth quarter, Holdings Channel reports. The firm owned 43,872 shares of the company’s stock after acquiring an additional 5,583 shares during the period. Versor Investments LP’s holdings in Broadstone Net Lease were worth $696,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Natixis Advisors LLC grew its position in Broadstone Net Lease by 63.2% in the third quarter. Natixis Advisors LLC now owns 114,272 shares of the company’s stock valued at $2,165,000 after acquiring an additional 44,264 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Broadstone Net Lease by 30.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 466,782 shares of the company’s stock valued at $7,403,000 after acquiring an additional 108,907 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Broadstone Net Lease by 79.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 44,955 shares of the company’s stock valued at $705,000 after acquiring an additional 19,839 shares during the last quarter. Meritage Portfolio Management bought a new position in Broadstone Net Lease in the third quarter valued at about $5,610,000. Finally, Intech Investment Management LLC bought a new position in Broadstone Net Lease in the third quarter valued at about $633,000. Institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Price Performance

Broadstone Net Lease stock opened at $16.82 on Friday. The stock’s 50 day moving average is $15.82 and its 200 day moving average is $17.15. The firm has a market cap of $3.17 billion, a P/E ratio of 19.33 and a beta of 1.11. Broadstone Net Lease, Inc. has a one year low of $14.20 and a one year high of $19.15.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.16. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. The firm had revenue of $112.13 million for the quarter, compared to analyst estimates of $109.80 million. Equities analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 6.90%. The ex-dividend date is Monday, March 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 133.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. 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 target price on the stock. Citizens Jmp upgraded Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Finally, JMP Securities upgraded Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $18.60.

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.