Envestnet Asset Management Inc. Raises Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Envestnet Asset Management Inc. raised its stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 654.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 451,078 shares of the company's stock after purchasing an additional 391,320 shares during the period. Envestnet Asset Management Inc. owned 0.24% of Broadstone Net Lease worth $7,154,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of Broadstone Net Lease by 84.0% in 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. Stifel Financial Corp grew its holdings in shares of Broadstone Net Lease by 6.5% during the third quarter. Stifel Financial Corp now owns 15,470 shares of the company's stock valued at $293,000 after buying an additional 939 shares during the last quarter. Barclays PLC increased its position in shares of Broadstone Net Lease by 131.1% during the third quarter. Barclays PLC now owns 318,142 shares of the company's stock worth $6,028,000 after acquiring an additional 180,456 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Broadstone Net Lease by 66.8% in the 3rd quarter. Franklin Resources Inc. now owns 574,124 shares of the company's stock worth $10,512,000 after acquiring an additional 229,874 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Broadstone Net Lease by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,834,413 shares of the company's stock valued at $34,762,000 after acquiring an additional 84,509 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

Separately, 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 analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $18.83.

Broadstone Net Lease Stock Down 0.5 %

Broadstone Net Lease stock traded down $0.08 during midday trading on Friday, hitting $15.87. 111,328 shares of the stock were exchanged, compared to its average volume of 1,162,302. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 18.23 and a beta of 1.03. Broadstone Net Lease, Inc. has a 52-week low of $13.96 and a 52-week high of $19.15. The business's 50-day moving average price is $16.38 and its 200-day moving average price is $16.61.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last released 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 company had revenue of $112.13 million during the quarter, compared to analyst estimates of $109.80 million. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. On average, sell-side analysts predict that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.31%. The ex-dividend date was Monday, March 31st. Broadstone Net Lease's payout ratio is 133.33%.

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.