Edgestream Partners L.P. Takes Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Edgestream Partners L.P. purchased a new stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 282,510 shares of the company's stock, valued at approximately $4,481,000. Edgestream Partners L.P. owned about 0.15% of Broadstone Net Lease at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. State of Alaska Department of Revenue grew its position in Broadstone Net Lease by 1.0% in the fourth quarter. State of Alaska Department of Revenue now owns 90,318 shares of the company's stock worth $1,432,000 after acquiring an additional 882 shares in the last quarter. Cerity Partners LLC lifted its stake in Broadstone Net Lease by 2.2% in the third quarter. Cerity Partners LLC now owns 40,480 shares of the company's stock worth $767,000 after acquiring an additional 886 shares during the period. Blue Trust Inc. increased its position in shares of 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 buying an additional 925 shares during the period. Stifel Financial Corp grew its position in shares of Broadstone Net Lease by 6.5% in the 3rd quarter. Stifel Financial Corp now owns 15,470 shares of the company's stock worth $293,000 after buying an additional 939 shares during the period. Finally, Evermay Wealth Management LLC boosted its stake in Broadstone Net Lease by 2.0% in the 4th quarter. Evermay Wealth Management LLC now owns 50,155 shares of the company's stock worth $798,000 after purchasing an additional 969 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

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Broadstone Net Lease Stock Down 1.3 %

Shares of BNL traded down $0.23 during mid-day trading on Wednesday, reaching $16.70. The company had a trading volume of 1,232,207 shares, compared to its average volume of 1,115,721. The stock has a 50 day moving average of $15.95 and a two-hundred day moving average of $17.10. Broadstone Net Lease, Inc. has a 52-week low of $14.20 and a 52-week high of $19.15. The stock has a market capitalization of $3.15 billion, a P/E ratio of 19.19 and a beta of 1.09.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last announced its earnings results 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 return on equity of 5.10% and a net margin of 37.62%. The business had revenue of $112.13 million during the quarter, compared to the consensus estimate of $109.80 million. On average, sell-side analysts expect that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current year.

Broadstone Net Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.29 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.16 annualized dividend and a dividend yield of 6.95%. Broadstone Net Lease's dividend payout ratio (DPR) is presently 133.33%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. JMP Securities upgraded shares of Broadstone Net Lease from a "market perform" rating to an "outperform" rating and set a $21.00 target price for the company in a research note on Tuesday, December 17th. UBS Group began 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 on the stock. Finally, Citizens Jmp upgraded Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price 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.