Thrivent Financial for Lutherans Increases Stock Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Thrivent Financial for Lutherans lifted its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 220.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 538,743 shares of the company’s stock after acquiring an additional 370,598 shares during the period. Thrivent Financial for Lutherans’ holdings in Broadstone Net Lease were worth $8,545,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Brookfield Corp ON purchased a new position in Broadstone Net Lease in the 3rd quarter valued at $18,444,000. Wellington Management Group LLP purchased a new position in Broadstone Net Lease in the 3rd quarter valued at $12,574,000. Systematic Financial Management LP grew its position in Broadstone Net Lease by 298.1% in the 3rd quarter. Systematic Financial Management LP now owns 747,706 shares of the company’s stock valued at $14,169,000 after buying an additional 559,906 shares during the last quarter. Columbus Macro LLC purchased a new position in Broadstone Net Lease in the 4th quarter valued at $6,269,000. Finally, Victory Capital Management Inc. grew its position in Broadstone Net Lease by 21.2% in the 4th quarter. Victory Capital Management Inc. now owns 1,762,625 shares of the company’s stock valued at $27,955,000 after buying an additional 308,118 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Broadstone Net Lease Stock Performance

Shares of NYSE BNL opened at $16.84 on Friday. The firm has a market capitalization of $3.18 billion, a P/E ratio of 19.35 and a beta of 1.09. Broadstone Net Lease, Inc. has a one year low of $14.21 and a one year high of $19.15. The company’s fifty day moving average is $16.17 and its two-hundred day moving average is $17.03.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.16. The business had revenue of $112.13 million during the quarter, compared to the consensus estimate of $109.80 million. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. On average, sell-side analysts forecast that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 6.89%. The ex-dividend date of this dividend is Monday, March 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 133.33%.

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.