Assetmark Inc. Acquires 3,461 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Assetmark Inc. boosted its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 345.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,464 shares of the company’s stock after acquiring an additional 3,461 shares during the quarter. Assetmark Inc.’s holdings in Broadstone Net Lease were worth $71,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Natixis Advisors LLC grew its holdings in Broadstone Net Lease by 63.2% during the third quarter. Natixis Advisors LLC now owns 114,272 shares of the company’s stock valued at $2,165,000 after purchasing an additional 44,264 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Broadstone Net Lease by 30.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 466,782 shares of the company’s stock worth $7,403,000 after acquiring an additional 108,907 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Broadstone Net Lease by 79.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 44,955 shares of the company’s stock worth $705,000 after acquiring an additional 19,839 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Broadstone Net Lease by 15.0% in the fourth quarter. Bank of New York Mellon Corp now owns 1,820,961 shares of the company’s stock worth $28,880,000 after acquiring an additional 237,083 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Broadstone Net Lease in the third quarter worth $633,000. Institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Trading Up 2.4 %

Broadstone Net Lease stock opened at $17.07 on Friday. The firm has a market capitalization of $3.22 billion, a P/E ratio of 19.61 and a beta of 1.09. Broadstone Net Lease, Inc. has a 1 year low of $14.20 and a 1 year high of $19.15. The business has a 50-day moving average of $16.01 and a 200-day moving average of $17.08.

Broadstone Net Lease (NYSE:BNL) last posted its earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.16. The company had revenue of $112.13 million during 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%. Research analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.29 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.16 annualized dividend and a dividend yield of 6.80%. Broadstone Net Lease’s dividend payout ratio is presently 133.33%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. JMP Securities upgraded shares of 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 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 note on Tuesday, December 17th. 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 given a strong buy rating to the company. According to MarketBeat.com, Broadstone Net Lease has an average rating of “Hold” and a consensus target price of $18.60.

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.