Cobblestone Capital Advisors LLC NY Sells 28,993 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Cobblestone Capital Advisors LLC NY cut its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 3.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 863,634 shares of the company's stock after selling 28,993 shares during the quarter. Cobblestone Capital Advisors LLC NY owned 0.46% of Broadstone Net Lease worth $13,697,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Broadstone Net Lease by 35.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,314 shares of the company's stock worth $138,000 after buying an additional 1,908 shares during the last quarter. abrdn plc boosted its holdings in shares of Broadstone Net Lease by 10.5% during the 3rd quarter. abrdn plc now owns 37,655 shares of the company's stock valued at $714,000 after acquiring an additional 3,592 shares in the last quarter. US Bancorp DE grew its position in Broadstone Net Lease by 636.6% during the 3rd quarter. US Bancorp DE now owns 3,941 shares of the company's stock worth $75,000 after acquiring an additional 3,406 shares during the last quarter. Van ECK Associates Corp increased its holdings in Broadstone Net Lease by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 32,419 shares of the company's stock worth $591,000 after purchasing an additional 3,558 shares in the last quarter. Finally, BSW Wealth Partners acquired a new position in Broadstone Net Lease in the 3rd quarter worth about $758,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BNL. UBS Group began coverage on Broadstone Net Lease in a report on Thursday, November 14th. They set a "neutral" rating and a $18.00 price target on the stock. Citizens Jmp raised shares of Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a report on Tuesday, December 17th. Finally, JMP Securities upgraded shares of Broadstone Net Lease from a "market perform" rating to an "outperform" rating and set a $21.00 price target for the company in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Broadstone Net Lease presently has a consensus rating of "Hold" and an average target price of $18.60.

Broadstone Net Lease Price Performance

Shares of BNL traded up $0.13 during trading hours on Wednesday, hitting $16.86. 988,523 shares of the stock were exchanged, compared to its average volume of 1,062,361. The firm has a market capitalization of $3.18 billion, a P/E ratio of 19.37 and a beta of 1.11. Broadstone Net Lease, Inc. has a fifty-two week low of $14.20 and a fifty-two week high of $19.15. The business has a 50-day moving average of $15.85 and a 200-day moving average of $17.13.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.16. The firm had revenue of $112.13 million during the quarter, compared to the consensus estimate 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, analysts forecast that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The firm also recently declared 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 6.88%. The ex-dividend date is Monday, March 31st. Broadstone Net Lease's dividend payout ratio (DPR) is presently 133.33%.

Broadstone Net Lease 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.