Broadstone Net Lease, Inc. (NYSE:BNL) Stake Raised by Bank of Montreal Can

Bank of Montreal Can grew its stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 603.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,891,881 shares of the company's stock after purchasing an additional 1,623,098 shares during the quarter. Bank of Montreal Can owned approximately 1.00% of Broadstone Net Lease worth $30,005,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of BNL. FMR LLC lifted its holdings in Broadstone Net Lease by 84.0% during the 3rd quarter. FMR LLC now owns 9,992 shares of the company's stock worth $189,000 after buying an additional 4,562 shares during the last quarter. Stifel Financial Corp lifted its stake in Broadstone Net Lease by 6.5% during the third quarter. Stifel Financial Corp now owns 15,470 shares of the company's stock worth $293,000 after purchasing an additional 939 shares during the last quarter. Wellington Management Group LLP bought a new position in Broadstone Net Lease during the third quarter worth $12,574,000. XTX Topco Ltd bought a new stake in Broadstone Net Lease during the third quarter valued at $348,000. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Broadstone Net Lease by 0.9% during the third quarter. Public Employees Retirement System of Ohio now owns 270,542 shares of the company's stock worth $5,127,000 after purchasing an additional 2,387 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on BNL. 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. Citizens Jmp upgraded Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, December 17th. Finally, JMP Securities raised Broadstone Net Lease from a "market perform" rating to an "outperform" rating and set a $21.00 target price on the stock in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Broadstone Net Lease presently has a consensus rating of "Moderate Buy" and an average price target of $18.83.

Broadstone Net Lease Stock Up 1.7 %

Broadstone Net Lease stock traded up $0.26 during mid-day trading on Wednesday, hitting $16.03. 284,329 shares of the company's stock traded hands, compared to its average volume of 1,323,248. Broadstone Net Lease, Inc. has a one year low of $13.96 and a one year high of $19.15. The company has a market cap of $3.03 billion, a PE ratio of 18.43 and a beta of 1.03. The firm has a 50 day moving average price of $16.29 and a 200 day moving average price of $16.72.

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 for the quarter, topping the consensus estimate of $0.20 by $0.16. The business had revenue of $112.13 million during 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%. On average, analysts expect that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.29 per share. The ex-dividend date was Monday, March 31st. This represents a $1.16 annualized dividend and a yield of 7.23%. Broadstone Net Lease's payout ratio is 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.