Cibc World Markets Corp Invests $280,000 in Broadstone Net Lease, Inc. (NYSE:BNL)

Cibc World Markets Corp acquired a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 17,654 shares of the company's stock, valued at approximately $280,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Thrivent Financial for Lutherans bought a new stake in Broadstone Net Lease during the 3rd quarter worth about $3,186,000. Pathstone Holdings LLC increased its position in shares of Broadstone Net Lease by 30.6% in the third quarter. Pathstone Holdings LLC now owns 95,977 shares of the company's stock valued at $1,819,000 after acquiring an additional 22,461 shares during the last quarter. Intech Investment Management LLC bought a new stake in Broadstone Net Lease during the third quarter worth about $633,000. Citigroup Inc. increased its position in shares of Broadstone Net Lease by 86.0% during the 3rd quarter. Citigroup Inc. now owns 246,987 shares of the company's stock worth $4,680,000 after purchasing an additional 114,215 shares during the last quarter. Finally, Cerity Partners LLC raised its stake in shares of Broadstone Net Lease by 2.2% during the 3rd quarter. Cerity Partners LLC now owns 40,480 shares of the company's stock worth $767,000 after purchasing an additional 886 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on BNL. Citizens Jmp raised shares of Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, December 17th. BMO Capital Markets set a $20.00 price objective on shares of Broadstone Net Lease and gave the company an "outperform" rating in a research report on Monday, March 24th. Finally, 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $18.83.

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Broadstone Net Lease Trading Down 0.5 %

Shares of NYSE:BNL traded down $0.09 on Friday, reaching $16.97. 1,406,673 shares of the company's stock were exchanged, compared to its average volume of 1,129,991. Broadstone Net Lease, Inc. has a twelve month low of $14.21 and a twelve month high of $19.15. The company has a fifty day moving average of $16.31 and a 200-day moving average of $16.99. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 19.50 and a beta of 1.09.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last posted 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. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. The business had revenue of $112.13 million during the quarter, compared to analysts' expectations of $109.80 million. As a group, equities research analysts forecast that Broadstone Net Lease, Inc. will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.29 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a yield of 6.84%. Broadstone Net Lease's dividend payout ratio (DPR) is 133.33%.

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.