Raymond James Financial Inc. acquired a new position in 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 & Exchange Commission. The fund acquired 302,077 shares of the company's stock, valued at approximately $4,791,000. Raymond James Financial Inc. owned approximately 0.16% of Broadstone Net Lease as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC raised its position in shares of Broadstone Net Lease by 30.4% in the 4th 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 in the last quarter. Allspring Global Investments Holdings LLC grew its stake in 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 valued at $705,000 after purchasing an additional 19,839 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in 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 purchasing an additional 237,083 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Broadstone Net Lease by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,077,513 shares of the company's stock valued at $48,809,000 after buying an additional 71,709 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Broadstone Net Lease in the 3rd quarter valued at about $633,000. Hedge funds and other institutional investors own 89.07% of the company's stock.
Broadstone Net Lease Stock Performance
Shares of NYSE BNL traded down $0.09 during mid-day trading on Friday, hitting $16.97. The stock had a trading volume of 1,406,673 shares, compared to its average volume of 1,129,991. The firm has a market cap of $3.20 billion, a PE ratio of 19.50 and a beta of 1.09. The company has a 50 day moving average of $16.31 and a two-hundred day moving average of $16.99. Broadstone Net Lease, Inc. has a twelve month low of $14.21 and a twelve month high of $19.15.
Broadstone Net Lease (NYSE:BNL - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $112.13 million during the quarter, compared to analysts' expectations of $109.80 million. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. Equities research 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 6.84%. The ex-dividend date of this dividend is Monday, March 31st. Broadstone Net Lease's dividend payout ratio (DPR) is currently 133.33%.
Analyst Ratings Changes
BNL has been the subject of several recent analyst reports. 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. JMP Securities upgraded Broadstone Net Lease from a "market perform" rating to an "outperform" rating and set a $21.00 price objective for the company in a report on Tuesday, December 17th. Finally, BMO Capital Markets set a $20.00 price objective on Broadstone Net Lease and gave the stock an "outperform" rating in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $18.83.
Check Out Our Latest Stock Analysis on BNL
About Broadstone Net Lease
(
Free Report)
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.
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