Charles Schwab Investment Management Inc. Acquires 71,709 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Charles Schwab Investment Management Inc. increased its position in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,077,513 shares of the company's stock after purchasing an additional 71,709 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.63% of Broadstone Net Lease worth $48,809,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in BNL. Natixis Advisors LLC raised its stake in Broadstone Net Lease by 63.2% in the 3rd quarter. Natixis Advisors LLC now owns 114,272 shares of the company's stock valued at $2,165,000 after acquiring an additional 44,264 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Broadstone Net Lease by 30.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 466,782 shares of the company's stock worth $7,403,000 after buying an additional 108,907 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Broadstone Net Lease by 79.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 44,955 shares of the company's stock worth $705,000 after buying an additional 19,839 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Broadstone Net Lease by 15.0% in 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 purchasing an additional 237,083 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in Broadstone Net Lease during the 3rd quarter worth $633,000. 89.07% of the stock is owned by institutional investors and hedge funds.

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Broadstone Net Lease Stock Performance

Shares of NYSE:BNL traded up $0.05 during midday trading on Monday, hitting $17.11. 984,602 shares of the stock were exchanged, compared to its average volume of 1,063,217. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 19.66 and a beta of 1.09. Broadstone Net Lease, Inc. has a 12 month low of $14.21 and a 12 month high of $19.15. The business's 50-day moving average price is $16.01 and its 200 day moving average price is $17.07.

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 (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.16. The firm had revenue of $112.13 million during the quarter, compared to analyst estimates of $109.80 million. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. As a group, sell-side analysts expect that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.

Broadstone Net Lease Announces Dividend

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. This represents a $1.16 dividend on an annualized basis and a yield of 6.78%. The ex-dividend date of this dividend is Monday, March 31st. Broadstone Net Lease's payout ratio is 133.33%.

Analyst Upgrades and Downgrades

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