Ashton Thomas Private Wealth LLC Invests $589,000 in Broadstone Net Lease, Inc. (NYSE:BNL)

Ashton Thomas Private Wealth LLC acquired a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 36,474 shares of the company's stock, valued at approximately $589,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Natixis Advisors LLC increased its position in shares of Broadstone Net Lease by 63.2% during the 3rd 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 lifted its stake in 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 purchasing an additional 108,907 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Broadstone Net Lease by 79.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 44,955 shares of the company's stock valued at $705,000 after buying an additional 19,839 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Broadstone Net Lease by 15.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,820,961 shares of the company's stock valued at $28,880,000 after buying an additional 237,083 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Broadstone Net Lease in the third quarter worth approximately $633,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Broadstone Net Lease Stock Up 2.4 %

NYSE:BNL traded up $0.41 during mid-day trading on Friday, reaching $17.07. The company's stock had a trading volume of 938,459 shares, compared to its average volume of 1,117,164. The stock has a fifty day moving average of $15.96 and a 200-day moving average of $17.10. Broadstone Net Lease, Inc. has a 1 year low of $14.20 and a 1 year high of $19.15. The firm has a market capitalization of $3.22 billion, a PE ratio of 19.61 and a beta of 1.09.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.16. The business had revenue of $112.13 million for 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%. On average, analysts expect that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have commented on BNL shares. UBS Group assumed coverage on Broadstone Net Lease in a research report on Thursday, November 14th. They issued a "neutral" rating and a $18.00 price objective 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 target on the stock in a 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 report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus 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.