Bank of New York Mellon Corp Grows Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Bank of New York Mellon Corp boosted its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 15.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,820,961 shares of the company's stock after purchasing an additional 237,083 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.97% of Broadstone Net Lease worth $28,880,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. US Bancorp DE boosted its position in shares of Broadstone Net Lease by 636.6% in the 3rd quarter. US Bancorp DE now owns 3,941 shares of the company's stock worth $75,000 after buying an additional 3,406 shares in the last quarter. Blue Trust Inc. grew its position in shares of Broadstone Net Lease by 23.7% in the fourth quarter. Blue Trust Inc. now owns 4,827 shares of the company's stock valued at $77,000 after purchasing an additional 925 shares during the last quarter. KBC Group NV increased its stake in shares of Broadstone Net Lease by 29.4% during the 3rd quarter. KBC Group NV now owns 6,220 shares of the company's stock worth $118,000 after purchasing an additional 1,413 shares in the last quarter. FMR LLC increased its stake in shares of 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 purchasing an additional 4,562 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. acquired a new position in shares of Broadstone Net Lease during the 4th quarter worth approximately $196,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BNL shares. Citizens Jmp raised Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a research report 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 research report on Tuesday, December 17th. Finally, UBS Group began coverage on shares of Broadstone Net Lease in a report on Thursday, November 14th. They issued a "neutral" rating and a $18.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Broadstone Net Lease currently has an average rating of "Hold" and a consensus target price of $18.60.

Broadstone Net Lease Stock Performance

Broadstone Net Lease stock traded down $0.19 during trading on Wednesday, hitting $16.73. The company's stock had a trading volume of 1,018,178 shares, compared to its average volume of 1,113,236. The stock's fifty day moving average is $15.95 and its 200 day moving average is $17.10. Broadstone Net Lease, Inc. has a 1-year low of $14.20 and a 1-year high of $19.15. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 19.30 and a beta of 1.09.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.36 EPS for the quarter, beating 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 company had revenue of $112.13 million during the quarter, compared to the consensus estimate of $109.80 million. On average, research analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.29 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.93%. 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.