Broadstone Net Lease, Inc. (NYSE:BNL) Shares Purchased by Fmr LLC

Fmr LLC raised its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 84.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,992 shares of the company’s stock after buying an additional 4,562 shares during the period. Fmr LLC’s holdings in Broadstone Net Lease were worth $189,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BNL. Millennium Management LLC lifted its holdings in shares of Broadstone Net Lease by 709.4% during the 2nd quarter. Millennium Management LLC now owns 3,177,459 shares of the company’s stock valued at $50,426,000 after acquiring an additional 2,784,878 shares in the last quarter. Bank of New York Mellon Corp raised its position in Broadstone Net Lease by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 1,767,296 shares of the company’s stock valued at $28,047,000 after purchasing an additional 54,885 shares during the period. Victory Capital Management Inc. raised its position in Broadstone Net Lease by 35.5% in the third quarter. Victory Capital Management Inc. now owns 1,454,507 shares of the company’s stock valued at $27,563,000 after purchasing an additional 380,772 shares during the period. Sage Advisors LLC lifted its stake in shares of Broadstone Net Lease by 2.7% during the third quarter. Sage Advisors LLC now owns 932,736 shares of the company’s stock worth $17,675,000 after purchasing an additional 24,670 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of Broadstone Net Lease by 20.8% in the second quarter. Sei Investments Co. now owns 545,556 shares of the company’s stock worth $8,658,000 after buying an additional 94,092 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Broadstone Net Lease Price Performance

BNL opened at $16.07 on Friday. Broadstone Net Lease, Inc. has a 12-month low of $14.20 and a 12-month high of $19.15. The stock has a market capitalization of $3.03 billion, a PE ratio of 21.15 and a beta of 1.10. The firm’s fifty day moving average price is $17.45 and its 200 day moving average price is $17.34.

Broadstone Net Lease (NYSE:BNL) last issued its earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The company 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 quarter last year, the company posted $0.36 EPS. On average, 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.29 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 annualized dividend and a dividend yield of 7.22%. Broadstone Net Lease’s payout ratio is 152.63%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on BNL shares. Citizens Jmp raised Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research report 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 on the stock. JMP Securities raised shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Tuesday, December 17th. Finally, The Goldman Sachs Group lifted their price target on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a research note on Friday, September 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Broadstone Net Lease has an average rating of “Hold” and an average price target 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.