Broadstone Net Lease, Inc. (NYSE:BNL) Shares Bought by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC raised its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 99,275 shares of the company’s stock after acquiring an additional 1,665 shares during the period. Commonwealth Equity Services LLC owned approximately 0.05% of Broadstone Net Lease worth $1,575,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BNL. Citizens Jmp upgraded Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. JMP Securities raised shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research note on Tuesday, December 17th. Finally, BMO Capital Markets set a $20.00 price objective on shares of Broadstone Net Lease and gave the company an “outperform” rating in a report on Monday, March 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.83.

Broadstone Net Lease Price Performance

BNL stock opened at $16.97 on Friday. The business’s 50-day moving average is $16.31 and its two-hundred day moving average is $16.99. The firm has a market capitalization of $3.20 billion, a P/E ratio of 19.50 and a beta of 1.09. Broadstone Net Lease, Inc. has a 1 year low of $14.21 and a 1 year high of $19.15.

Broadstone Net Lease (NYSE:BNL) last issued its 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. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. The firm had revenue of $112.13 million for the quarter, compared to analysts’ expectations of $109.80 million. On average, analysts expect that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.29 per share. The ex-dividend date is Monday, March 31st. This represents a $1.16 annualized dividend and a dividend yield of 6.84%. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 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.