Stifel Financial Corp Raises Stock Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Stifel Financial Corp grew its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 6.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,470 shares of the company’s stock after buying an additional 939 shares during the period. Stifel Financial Corp’s holdings in Broadstone Net Lease were worth $293,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Millennium Management LLC boosted its stake in Broadstone Net Lease by 709.4% in the second quarter. Millennium Management LLC now owns 3,177,459 shares of the company’s stock valued at $50,426,000 after acquiring an additional 2,784,878 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Broadstone Net Lease by 3.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,767,296 shares of the company’s stock valued at $28,047,000 after purchasing an additional 54,885 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Broadstone Net Lease by 35.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,454,507 shares of the company’s stock valued at $27,563,000 after purchasing an additional 380,772 shares during the period. Sage Advisors LLC grew its stake in Broadstone Net Lease by 2.7% during the 3rd quarter. Sage Advisors LLC now owns 932,736 shares of the company’s stock worth $17,675,000 after buying an additional 24,670 shares during the last quarter. Finally, Systematic Financial Management LP increased its position in Broadstone Net Lease by 298.1% during the third quarter. Systematic Financial Management LP now owns 747,706 shares of the company’s stock worth $14,169,000 after buying an additional 559,906 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BNL has been the subject of several research analyst reports. The Goldman Sachs Group increased their price objective on Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, September 13th. Citizens Jmp upgraded shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. UBS Group initiated coverage on shares of Broadstone Net Lease in a research note on Thursday, November 14th. They issued a “neutral” rating and a $18.00 price objective on the stock. Finally, JMP Securities upgraded shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $18.60.

Broadstone Net Lease Stock Down 1.4 %

Shares of NYSE:BNL opened at $15.94 on Friday. Broadstone Net Lease, Inc. has a fifty-two week low of $14.20 and a fifty-two week high of $19.15. The firm’s 50-day simple moving average is $17.20 and its 200-day simple moving average is $17.37. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 20.97 and a beta of 1.10.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings data 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 business had revenue of $108.40 million during 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 period in the prior year, the firm posted $0.36 EPS. On average, research analysts forecast that Broadstone Net Lease, Inc. will post 1.39 EPS for the current year.

Broadstone Net Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 7.28%. The ex-dividend date is Tuesday, December 31st. Broadstone Net Lease’s dividend payout ratio is presently 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.