Centersquare Investment Management LLC raised its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 7.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,011,419 shares of the company's stock after acquiring an additional 265,428 shares during the quarter. Centersquare Investment Management LLC owned approximately 2.13% of Broadstone Net Lease worth $63,621,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in BNL. EverSource Wealth Advisors LLC grew its position in Broadstone Net Lease by 139.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company's stock valued at $43,000 after purchasing an additional 1,592 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Broadstone Net Lease by 345.1% in the 4th quarter. Assetmark Inc. now owns 4,464 shares of the company's stock valued at $71,000 after acquiring an additional 3,461 shares in the last quarter. Blue Trust Inc. increased 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 acquiring an additional 925 shares during the last quarter. KBC Group NV raised its holdings in Broadstone Net Lease by 27.0% during the fourth quarter. KBC Group NV now owns 7,901 shares of the company's stock worth $125,000 after acquiring an additional 1,681 shares in the last quarter. Finally, FMR LLC raised its holdings in Broadstone Net Lease by 84.0% during the third quarter. FMR LLC now owns 9,992 shares of the company's stock worth $189,000 after acquiring an additional 4,562 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts have weighed in on BNL shares. JMP Securities raised Broadstone Net Lease from a "market perform" rating to an "outperform" rating and set a $21.00 price target on the stock in a research report on Tuesday, December 17th. BMO Capital Markets set a $20.00 target price on shares of Broadstone Net Lease and gave the stock an "outperform" rating in a report on Monday, March 24th. Finally, Citizens Jmp upgraded shares of Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Broadstone Net Lease currently has an average rating of "Hold" and a consensus price target of $18.83.
Check Out Our Latest Report on BNL
Broadstone Net Lease Trading Down 1.9 %
Shares of NYSE:BNL traded down $0.28 on Wednesday, hitting $14.45. The company had a trading volume of 1,583,086 shares, compared to its average volume of 1,152,615. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 16.62 and a beta of 1.03. The stock has a 50 day moving average price of $16.33 and a 200 day moving average price of $16.85. Broadstone Net Lease, Inc. has a 1-year low of $14.06 and a 1-year high of $19.15.
Broadstone Net Lease (NYSE:BNL - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $109.80 million. Sell-side analysts anticipate 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 disclosed 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 yield of 8.03%. The ex-dividend date of this dividend is Monday, March 31st. Broadstone Net Lease's payout ratio is 133.33%.
About Broadstone Net Lease
(
Free Report)
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.
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