JPMorgan Chase & Co. Boosts Stock Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

JPMorgan Chase & Co. raised its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 4.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,834,413 shares of the company’s stock after acquiring an additional 84,509 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.97% of Broadstone Net Lease worth $34,762,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BNL. GAMMA Investing LLC raised its stake in Broadstone Net Lease by 257.5% in the 3rd 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 grew its holdings in shares of Broadstone Net Lease by 93.1% during the second quarter. Quarry LP now owns 2,556 shares of the company’s stock worth $41,000 after buying an additional 1,232 shares in the last quarter. Blue Trust Inc. raised its position in shares of Broadstone Net Lease by 156.5% in the third quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock valued at $74,000 after buying an additional 2,381 shares during the last quarter. US Bancorp DE raised its position 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 valued at $75,000 after buying an additional 3,406 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of Broadstone Net Lease by 29.4% in the third quarter. KBC Group NV now owns 6,220 shares of the company’s stock worth $118,000 after buying an additional 1,413 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

BNL has been the subject of several research reports. UBS Group started coverage on shares of Broadstone Net Lease in a research note on Thursday, November 14th. They set a “neutral” rating and a $18.00 price objective for the company. Citizens Jmp upgraded Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. JMP Securities upgraded 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. Finally, The Goldman Sachs Group upped their target price on Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, September 13th. One equities 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $18.60.

Broadstone Net Lease Stock Performance

BNL opened at $15.67 on Tuesday. The stock has a market capitalization of $2.95 billion, a PE ratio of 20.62 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. The business’s 50 day moving average price is $16.92 and its 200 day moving average price is $17.42.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.15). The business had revenue of $108.40 million during the quarter, compared to analyst estimates 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 last year, the company earned $0.36 EPS. As a group, equities research analysts forecast that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 7.40%. The ex-dividend date of this dividend is Tuesday, December 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 152.63%.

Broadstone Net Lease Company 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.