California Public Employees Retirement System reduced its position in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 6.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 314,223 shares of the company's stock after selling 21,943 shares during the quarter. California Public Employees Retirement System owned about 0.17% of Broadstone Net Lease worth $4,984,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of BNL. EverSource Wealth Advisors LLC raised its stake in shares of Broadstone Net Lease by 139.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company's stock valued at $43,000 after acquiring an additional 1,592 shares during the last quarter. Assetmark Inc. increased its holdings in Broadstone Net Lease by 345.1% in the fourth quarter. Assetmark Inc. now owns 4,464 shares of the company's stock worth $71,000 after purchasing an additional 3,461 shares in the last quarter. Blue Trust Inc. lifted its stake in 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 buying an additional 925 shares during the period. KBC Group NV boosted its holdings in shares of Broadstone Net Lease by 27.0% during the 4th quarter. KBC Group NV now owns 7,901 shares of the company's stock worth $125,000 after buying an additional 1,681 shares in the last quarter. Finally, FMR LLC grew its position 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 buying an additional 4,562 shares during the period. Institutional investors own 89.07% of the company's stock.
Broadstone Net Lease Stock Up 2.4 %
Broadstone Net Lease stock traded up $0.36 during midday trading on Monday, reaching $15.43. The stock had a trading volume of 51,786 shares, compared to its average volume of 1,325,276. The firm has a market capitalization of $2.91 billion, a PE ratio of 17.74 and a beta of 1.03. Broadstone Net Lease, Inc. has a 12 month low of $13.96 and a 12 month high of $19.15. The firm's 50-day moving average price is $16.29 and its 200 day moving average price is $16.75.
Broadstone Net Lease (NYSE:BNL - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $109.80 million. Equities research analysts expect that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.
Broadstone Net Lease Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 7.52%. The ex-dividend date of this dividend is Monday, March 31st. Broadstone Net Lease's dividend payout ratio is presently 133.33%.
Analyst Ratings Changes
BNL has been the subject of a number of research analyst reports. JMP Securities raised Broadstone Net Lease from a "market perform" rating to an "outperform" rating and set a $21.00 target price for the company in a research report on Tuesday, December 17th. Citizens Jmp upgraded shares of Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a report on Tuesday, December 17th. Finally, BMO Capital Markets set a $20.00 price target on Broadstone Net Lease and gave the company an "outperform" rating in a research note on Monday, March 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $18.83.
View Our Latest Research Report on Broadstone Net Lease
Broadstone Net Lease Company Profile
(
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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