Canandaigua National Trust Co of Florida Buys Shares of 72,088 Broadstone Net Lease, Inc. (NYSE:BNL)

Canandaigua National Trust Co of Florida purchased a new stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 72,088 shares of the company's stock, valued at approximately $1,143,000. Broadstone Net Lease accounts for approximately 0.9% of Canandaigua National Trust Co of Florida's investment portfolio, making the stock its 25th biggest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of Broadstone Net Lease by 257.5% in the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company's stock valued at $33,000 after acquiring an additional 1,272 shares during the period. Quarry LP boosted its holdings in Broadstone Net Lease by 93.1% in the 2nd quarter. Quarry LP now owns 2,556 shares of the company's stock valued at $41,000 after purchasing an additional 1,232 shares during the period. Blue Trust Inc. grew its position in shares of Broadstone Net Lease by 156.5% during the 3rd quarter. Blue Trust Inc. now owns 3,902 shares of the company's stock worth $74,000 after purchasing an additional 2,381 shares in the last quarter. US Bancorp DE increased its holdings in shares of Broadstone Net Lease by 636.6% during the third quarter. US Bancorp DE now owns 3,941 shares of the company's stock worth $75,000 after purchasing an additional 3,406 shares during the period. Finally, KBC Group NV raised its position in shares of Broadstone Net Lease by 29.4% in the third quarter. KBC Group NV now owns 6,220 shares of the company's stock valued at $118,000 after buying an additional 1,413 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Broadstone Net Lease Stock Performance

Shares of BNL traded down $0.18 during mid-day trading on Monday, reaching $15.67. The company had a trading volume of 1,054,751 shares, compared to its average volume of 927,284. The company's 50 day simple moving average is $16.92 and its 200 day simple moving average is $17.42. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 20.62 and a beta of 1.11. Broadstone Net Lease, Inc. has a 1-year low of $14.20 and a 1-year high of $19.15.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.15). Broadstone Net Lease had a return on equity of 4.47% and a net margin of 33.56%. The company had revenue of $108.40 million for the quarter, compared to the consensus estimate of $106.47 million. During the same period in the previous year, the firm posted $0.36 EPS. As a group, equities analysts forecast that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 7.40%. The ex-dividend date of this dividend is Tuesday, December 31st. Broadstone Net Lease's dividend payout ratio (DPR) is currently 152.63%.

Wall Street Analyst Weigh In

BNL has been the topic of a number of recent research reports. Citizens Jmp upgraded Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, December 17th. JMP Securities upgraded 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. UBS Group started coverage on shares of Broadstone Net Lease in a research report on Thursday, November 14th. They set a "neutral" rating and a $18.00 price objective for the company. Finally, The Goldman Sachs Group raised their target price on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the company a "sell" rating in a report on Friday, September 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Broadstone Net Lease currently has an average rating of "Hold" and an average price target of $18.60.

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.