Fox Run Management L.L.C. acquired a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 39,264 shares of the company's stock, valued at approximately $623,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in shares of Broadstone Net Lease by 139.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company's stock worth $43,000 after acquiring an additional 1,592 shares during the period. Assetmark Inc. raised its stake in Broadstone Net Lease by 345.1% during the fourth 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. raised 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 worth $77,000 after purchasing an additional 925 shares during the period. KBC Group NV boosted its holdings in Broadstone Net Lease by 27.0% in the 4th quarter. KBC Group NV now owns 7,901 shares of the company's stock valued at $125,000 after purchasing an additional 1,681 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake 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 valued at $172,000 after buying an additional 4,017 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.
Analysts Set New Price Targets
A number of research firms recently commented on BNL. JMP Securities upgraded Broadstone Net Lease from a "market perform" rating to an "outperform" rating and set a $21.00 price objective on the stock in a report on Tuesday, December 17th. Citizens Jmp upgraded Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a report on Tuesday, December 17th. Finally, BMO Capital Markets set a $20.00 price objective on shares of Broadstone Net Lease and gave the company an "outperform" rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $18.83.
View Our Latest Report on BNL
Broadstone Net Lease Price Performance
Shares of BNL stock traded down $0.09 on Friday, hitting $16.97. The stock had a trading volume of 1,406,673 shares, compared to its average volume of 1,129,989. The company's 50 day moving average price is $16.31 and its 200-day moving average price is $17.00. Broadstone Net Lease, Inc. has a 1 year low of $14.21 and a 1 year high of $19.15. The firm has a market capitalization of $3.20 billion, a P/E ratio of 19.50 and a beta of 1.09.
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 (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.16. The company had revenue of $112.13 million for the quarter, compared to analyst estimates of $109.80 million. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. On average, equities analysts forecast that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.
Broadstone Net Lease Announces Dividend
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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.16 annualized dividend and a dividend yield of 6.84%. Broadstone Net Lease's dividend payout ratio (DPR) is 133.33%.
Broadstone Net Lease Company Profile
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Free Report)
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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