Norges Bank Purchases New Stake in Broadstone Net Lease, Inc. (NYSE:BNL)

Norges Bank bought a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,280,559 shares of the company's stock, valued at approximately $36,170,000. Norges Bank owned approximately 1.21% of Broadstone Net Lease as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the company. State of Alaska Department of Revenue increased its stake in Broadstone Net Lease by 1.0% during the fourth quarter. State of Alaska Department of Revenue now owns 90,318 shares of the company's stock valued at $1,432,000 after purchasing an additional 882 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Broadstone Net Lease by 2.2% in the 4th quarter. Corient Private Wealth LLC now owns 41,892 shares of the company's stock valued at $664,000 after buying an additional 907 shares during the period. Blue Trust Inc. boosted its holdings in shares of 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 buying an additional 925 shares during the period. Stifel Financial Corp boosted its holdings in shares of Broadstone Net Lease by 6.5% in the 3rd quarter. Stifel Financial Corp now owns 15,470 shares of the company's stock valued at $293,000 after buying an additional 939 shares during the period. Finally, Evermay Wealth Management LLC boosted its holdings in shares of Broadstone Net Lease by 2.0% in the 4th quarter. Evermay Wealth Management LLC now owns 50,155 shares of the company's stock valued at $798,000 after buying an additional 969 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Broadstone Net Lease Price Performance

Shares of BNL traded down $0.30 during trading hours on Thursday, hitting $15.06. The stock had a trading volume of 190,080 shares, compared to its average volume of 1,154,033. The company's fifty day moving average is $16.31 and its two-hundred day moving average is $16.81. Broadstone Net Lease, Inc. has a 52 week low of $13.96 and a 52 week high of $19.15. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 17.31 and a beta of 1.03.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.16. The business 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%. Equities analysts predict that Broadstone Net Lease, Inc. will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.16 annualized dividend and a dividend yield of 7.70%. Broadstone Net Lease's dividend payout ratio is currently 133.33%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BNL shares. BMO Capital Markets set a $20.00 price target on shares of Broadstone Net Lease and gave the company an "outperform" rating in a report on Monday, March 24th. 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 report on Tuesday, December 17th. Finally, 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 research analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $18.83.

Broadstone Net Lease Company 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.