Commonwealth of Pennsylvania Public School Empls Retrmt SYS Raises Stake in Broadstone Net Lease, Inc. (NYSE:BNL)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 86.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,002 shares of the company's stock after acquiring an additional 28,253 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Broadstone Net Lease were worth $967,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in BNL. EverSource Wealth Advisors LLC boosted its position in Broadstone Net Lease by 139.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company's stock worth $43,000 after purchasing an additional 1,592 shares during the last quarter. Assetmark Inc. lifted its stake in shares of 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 period. Blue Trust Inc. boosted its holdings in shares of Broadstone Net Lease by 23.7% in the fourth quarter. Blue Trust Inc. now owns 4,827 shares of the company's stock worth $77,000 after buying an additional 925 shares during the last quarter. KBC Group NV grew its position in Broadstone Net Lease by 27.0% during the fourth quarter. KBC Group NV now owns 7,901 shares of the company's stock valued at $125,000 after buying an additional 1,681 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in Broadstone Net Lease by 58.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,842 shares of the company's stock valued at $172,000 after buying an additional 4,017 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

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

Broadstone Net Lease Price Performance

Shares of NYSE BNL traded down $0.09 during mid-day trading on Friday, hitting $16.97. 1,406,673 shares of the company's stock traded hands, compared to its average volume of 1,129,991. The company has a market capitalization of $3.20 billion, a P/E ratio of 19.50 and a beta of 1.09. Broadstone Net Lease, Inc. has a 1 year low of $14.21 and a 1 year high of $19.15. The company's 50-day moving average is $16.31 and its two-hundred day moving average is $16.98.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported $0.36 EPS 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 analysts' expectations of $109.80 million. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. Equities analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.16 annualized dividend and a yield of 6.84%. Broadstone Net Lease's payout ratio 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.