Cascade Financial Partners LLC Sells 16,936 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Cascade Financial Partners LLC lessened its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 4.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 359,868 shares of the company's stock after selling 16,936 shares during the period. Broadstone Net Lease makes up approximately 0.7% of Cascade Financial Partners LLC's holdings, making the stock its 28th largest position. Cascade Financial Partners LLC owned 0.19% of Broadstone Net Lease worth $5,708,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Assetmark Inc. grew its position in Broadstone Net Lease by 345.1% in the 4th quarter. Assetmark Inc. now owns 4,464 shares of the company's stock worth $71,000 after purchasing an additional 3,461 shares during the last quarter. US Bancorp DE grew its position in 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 buying an additional 3,406 shares in the last quarter. Blue Trust Inc. increased its stake in Broadstone Net Lease by 23.7% during 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 period. KBC Group NV raised its holdings in Broadstone Net Lease by 29.4% in the 3rd quarter. KBC Group NV now owns 6,220 shares of the company's stock valued at $118,000 after acquiring an additional 1,413 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Broadstone Net Lease by 58.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,842 shares of the company's stock worth $172,000 after acquiring an additional 4,017 shares during the period. Institutional investors own 89.07% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. UBS Group initiated coverage on shares of Broadstone Net Lease in a report on Thursday, November 14th. They issued a "neutral" rating and a $18.00 price target on the stock. 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 research note on Tuesday, December 17th. 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 equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $18.60.

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Broadstone Net Lease Price Performance

Shares of NYSE:BNL opened at $16.94 on Wednesday. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 19.47 and a beta of 1.09. The company has a 50 day moving average of $15.95 and a 200-day moving average of $17.10. Broadstone Net Lease, Inc. has a one year low of $14.20 and a one year high of $19.15.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.16. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. The company had revenue of $112.13 million for the quarter, compared to the consensus estimate of $109.80 million. Equities research analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.29 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.85%. Broadstone Net Lease's dividend payout ratio (DPR) is presently 133.33%.

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.

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