Allstate Corp Has $576,000 Stake in Broadstone Net Lease, Inc. (NYSE:BNL)

Allstate Corp lowered its holdings in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 85.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,327 shares of the company's stock after selling 221,560 shares during the period. Allstate Corp's holdings in Broadstone Net Lease were worth $576,000 as of its most recent SEC filing.

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

Broadstone Net Lease Stock Down 3.3 %

Shares of BNL traded down $0.56 during mid-day trading on Friday, hitting $16.16. 1,813,303 shares of the company's stock were exchanged, compared to its average volume of 1,139,054. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 18.57 and a beta of 1.03. The firm has a fifty day moving average of $16.41 and a two-hundred day moving average of $16.92. 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 issued 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. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. The firm had revenue of $112.13 million during the quarter, compared to analysts' expectations of $109.80 million. On average, equities analysts predict that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The business 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 dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.18%. The ex-dividend date is Monday, March 31st. Broadstone Net Lease's dividend payout ratio is 133.33%.

Analyst Ratings Changes

Several research analysts have weighed in 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 raised shares of Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a research note 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 report on Monday, March 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average 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.