Alliancebernstein L.P. Sells 131,622 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Alliancebernstein L.P. cut its holdings in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,614,663 shares of the company's stock after selling 131,622 shares during the period. Alliancebernstein L.P. owned 2.45% of Broadstone Net Lease worth $73,189,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of BNL. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Broadstone Net Lease by 5.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 246,600 shares of the company's stock worth $3,911,000 after acquiring an additional 11,700 shares during the period. Norges Bank purchased a new stake in Broadstone Net Lease during the 4th quarter worth about $36,170,000. JPMorgan Chase & Co. boosted its stake in Broadstone Net Lease by 16.1% in the 4th quarter. JPMorgan Chase & Co. now owns 2,129,196 shares of the company's stock worth $33,769,000 after purchasing an additional 294,783 shares during the period. LPL Financial LLC grew its holdings in Broadstone Net Lease by 94.8% during the 4th quarter. LPL Financial LLC now owns 112,464 shares of the company's stock valued at $1,784,000 after buying an additional 54,721 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of Broadstone Net Lease during the fourth quarter valued at about $623,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BNL has been the subject of a number of analyst reports. BMO Capital Markets set a $20.00 price objective on shares of Broadstone Net Lease and gave the company an "outperform" rating in a research report on Monday, March 24th. Citizens Jmp raised shares of Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a report on Tuesday, December 17th. Finally, JMP Securities upgraded 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 research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $18.83.

Broadstone Net Lease Trading Up 0.2 %

Shares of NYSE:BNL traded up $0.03 during trading on Tuesday, reaching $15.33. The company had a trading volume of 305,048 shares, compared to its average volume of 1,262,819. Broadstone Net Lease, Inc. has a 12 month low of $14.20 and a 12 month high of $19.15. The company has a fifty day moving average of $16.38 and a two-hundred day moving average of $16.89. The stock has a market capitalization of $2.89 billion, a P/E ratio of 17.64 and a beta of 1.03.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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%. As a group, equities research analysts predict that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 7.57%. The ex-dividend date is Monday, March 31st. Broadstone Net Lease's dividend payout ratio (DPR) is presently 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.