State of New Jersey Common Pension Fund D Acquires 15,782 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

State of New Jersey Common Pension Fund D boosted its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 14.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,118 shares of the company’s stock after purchasing an additional 15,782 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.07% of Broadstone Net Lease worth $1,953,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Blue Trust Inc. lifted its stake in shares of Broadstone Net Lease by 156.5% during the 3rd quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock worth $74,000 after buying an additional 2,381 shares during the last quarter. US Bancorp DE raised its holdings in Broadstone Net Lease by 636.6% in the 3rd quarter. US Bancorp DE now owns 3,941 shares of the company’s stock valued at $75,000 after acquiring an additional 3,406 shares during the period. KBC Group NV lifted its position in Broadstone Net Lease by 29.4% during the third quarter. KBC Group NV now owns 6,220 shares of the company’s stock worth $118,000 after acquiring an additional 1,413 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Broadstone Net Lease by 35.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,314 shares of the company’s stock worth $138,000 after acquiring an additional 1,908 shares during the period. Finally, FMR LLC grew its position in shares of Broadstone Net Lease by 84.0% in the third quarter. FMR LLC now owns 9,992 shares of the company’s stock valued at $189,000 after purchasing an additional 4,562 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Broadstone Net Lease Price Performance

Broadstone Net Lease stock opened at $16.23 on Tuesday. The stock’s fifty day moving average price is $15.79 and its two-hundred day moving average price is $17.16. The firm has a market cap of $3.06 billion, a PE ratio of 18.65 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 posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.36 earnings per share 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 analysts’ expectations of $109.80 million. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. Sell-side analysts expect 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.29 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a yield of 7.15%. Broadstone Net Lease’s dividend payout ratio (DPR) is 133.33%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. UBS Group started coverage on Broadstone Net Lease in a report on Thursday, November 14th. They set a “neutral” rating and a $18.00 price target for the company. 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, Citizens Jmp raised shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Broadstone Net Lease presently has an average rating of “Hold” and an average target price of $18.60.

About Broadstone Net Lease

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.