Broadstone Net Lease, Inc. (NYSE:BNL) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. trimmed its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 17.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,490 shares of the company’s stock after selling 5,773 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Broadstone Net Lease were worth $436,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in Broadstone Net Lease by 139.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock worth $43,000 after purchasing an additional 1,592 shares during the period. Assetmark Inc. boosted its stake in shares of Broadstone Net Lease by 345.1% in the fourth quarter. Assetmark Inc. now owns 4,464 shares of the company’s stock valued at $71,000 after buying an additional 3,461 shares in the last quarter. Blue Trust Inc. grew its holdings in Broadstone Net Lease by 23.7% during the fourth quarter. Blue Trust Inc. now owns 4,827 shares of the company’s stock worth $77,000 after acquiring an additional 925 shares during the period. KBC Group NV raised its position in Broadstone Net Lease by 27.0% in the fourth quarter. KBC Group NV now owns 7,901 shares of the company’s stock worth $125,000 after acquiring an additional 1,681 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Broadstone Net Lease by 58.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,842 shares of the company’s stock valued at $172,000 after acquiring an additional 4,017 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on BNL. JMP Securities raised 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. 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 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $18.60.

Broadstone Net Lease Stock Down 2.0 %

NYSE:BNL opened at $16.84 on Monday. Broadstone Net Lease, Inc. has a 52-week low of $14.21 and a 52-week high of $19.15. The stock has a fifty day simple moving average of $16.17 and a 200-day simple moving average of $17.02. The company has a market capitalization of $3.18 billion, a PE ratio of 19.35 and a beta of 1.09.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) 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 the consensus estimate of $109.80 million. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. As a group, equities analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 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 6.89%. The ex-dividend date is Monday, March 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 133.33%.

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.