Broadstone Net Lease, Inc. (NYSE:BNL) Position Boosted by Rhumbline Advisers

Rhumbline Advisers boosted its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 0.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 339,446 shares of the company’s stock after purchasing an additional 3,164 shares during the period. Rhumbline Advisers owned approximately 0.18% of Broadstone Net Lease worth $5,384,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in BNL. State of Alaska Department of Revenue increased its holdings in shares of Broadstone Net Lease by 1.0% during the 4th quarter. State of Alaska Department of Revenue now owns 90,318 shares of the company’s stock worth $1,432,000 after purchasing an additional 882 shares during the period. Cerity Partners LLC lifted its holdings in Broadstone Net Lease by 2.2% during the third quarter. Cerity Partners LLC now owns 40,480 shares of the company’s stock worth $767,000 after acquiring an additional 886 shares in the last quarter. Blue Trust Inc. lifted its position in Broadstone Net Lease by 23.7% in the 4th quarter. Blue Trust Inc. now owns 4,827 shares of the company’s stock valued at $77,000 after acquiring an additional 925 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Broadstone Net Lease by 6.5% in the third quarter. Stifel Financial Corp now owns 15,470 shares of the company’s stock worth $293,000 after purchasing an additional 939 shares in the last quarter. Finally, Evermay Wealth Management LLC increased its position in shares of Broadstone Net Lease by 2.0% during the 4th quarter. Evermay Wealth Management LLC now owns 50,155 shares of the company’s stock worth $798,000 after purchasing an additional 969 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BNL has been the topic of several research reports. JMP Securities upgraded shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research note on Tuesday, December 17th. UBS Group started coverage on shares of Broadstone Net Lease in a research report on Thursday, November 14th. They set a “neutral” rating and a $18.00 target price for the company. Finally, 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. One equities research 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $18.60.

Broadstone Net Lease Price Performance

NYSE:BNL opened at $16.81 on Friday. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 19.32 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 has a fifty day moving average price of $15.81 and a 200-day moving average price of $17.15.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.16. The company had revenue of $112.13 million for the quarter, compared to analyst estimates of $109.80 million. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. On average, equities research 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 announced 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 of this dividend is Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a yield of 6.90%. Broadstone Net Lease’s dividend payout ratio (DPR) is 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.