Dark Forest Capital Management LP Trims Stake in Broadstone Net Lease, Inc. (NYSE:BNL)

Dark Forest Capital Management LP lessened its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 48.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 108,821 shares of the company's stock after selling 102,925 shares during the quarter. Dark Forest Capital Management LP owned about 0.06% of Broadstone Net Lease worth $1,726,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Stifel Financial Corp grew its holdings in Broadstone Net Lease by 6.5% during the 3rd quarter. Stifel Financial Corp now owns 15,470 shares of the company's stock valued at $293,000 after buying an additional 939 shares in the last quarter. Barclays PLC grew its stake in Broadstone Net Lease by 131.1% during the third quarter. Barclays PLC now owns 318,142 shares of the company's stock valued at $6,028,000 after acquiring an additional 180,456 shares in the last quarter. Franklin Resources Inc. increased its holdings in Broadstone Net Lease by 66.8% in the 3rd quarter. Franklin Resources Inc. now owns 574,124 shares of the company's stock valued at $10,512,000 after acquiring an additional 229,874 shares during the last quarter. JPMorgan Chase & Co. lifted its stake 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 worth $34,762,000 after purchasing an additional 84,509 shares in the last quarter. Finally, Canandaigua National Trust Co of Florida purchased a new stake in Broadstone Net Lease in the 4th quarter worth $1,143,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Broadstone Net Lease Price Performance

Shares of Broadstone Net Lease stock traded down $0.01 during trading hours on Friday, reaching $15.93. The company's stock had a trading volume of 588,608 shares, compared to its average volume of 1,164,498. The firm has a 50 day moving average price of $16.38 and a 200-day moving average price of $16.60. The stock has a market cap of $3.01 billion, a P/E ratio of 18.31 and a beta of 1.03. Broadstone Net Lease, Inc. has a one year low of $13.96 and a one year high of $19.15.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last issued 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 company had revenue of $112.13 million for the quarter, compared to analysts' expectations of $109.80 million. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. As a group, sell-side analysts forecast 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 was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.29 dividend. The ex-dividend date was Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a yield of 7.28%. Broadstone Net Lease's dividend payout ratio is presently 133.33%.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets set a $20.00 price objective on Broadstone Net Lease and gave the company an "outperform" rating in a research report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $18.83.

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.