Franklin Resources Inc. Has $10.51 Million Stock Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Franklin Resources Inc. raised its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 66.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 574,124 shares of the company's stock after purchasing an additional 229,874 shares during the quarter. Franklin Resources Inc. owned about 0.30% of Broadstone Net Lease worth $10,512,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in Broadstone Net Lease by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 1,767,296 shares of the company's stock valued at $28,047,000 after buying an additional 54,885 shares in the last quarter. Legato Capital Management LLC acquired a new position in shares of Broadstone Net Lease in the 2nd quarter worth approximately $1,404,000. HB Wealth Management LLC raised its holdings in shares of Broadstone Net Lease by 4.8% in the 2nd quarter. HB Wealth Management LLC now owns 21,178 shares of the company's stock worth $336,000 after purchasing an additional 967 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Broadstone Net Lease by 3.5% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 34,455 shares of the company's stock valued at $547,000 after purchasing an additional 1,163 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Broadstone Net Lease by 7.0% during the second quarter. Van ECK Associates Corp now owns 28,861 shares of the company's stock worth $458,000 after buying an additional 1,894 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Broadstone Net Lease Stock Up 1.3 %

Shares of Broadstone Net Lease stock traded up $0.21 during midday trading on Friday, hitting $16.07. The company's stock had a trading volume of 4,145,190 shares, compared to its average volume of 1,163,793. Broadstone Net Lease, Inc. has a 1-year low of $14.20 and a 1-year high of $19.15. The firm has a market capitalization of $3.03 billion, a P/E ratio of 21.15 and a beta of 1.10. The stock has a 50-day simple moving average of $17.45 and a 200-day simple moving average of $17.35.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.15). The business had revenue of $108.40 million for the quarter, compared to analyst estimates of $106.47 million. Broadstone Net Lease had a return on equity of 4.47% and a net margin of 33.56%. During the same quarter in the previous year, the business posted $0.36 earnings per share. As a group, sell-side analysts predict that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.29 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 annualized dividend and a yield of 7.22%. Broadstone Net Lease's dividend payout ratio is presently 152.63%.

Analysts Set New Price Targets

Several research analysts have issued reports on BNL shares. The Goldman Sachs Group upped their price target on Broadstone Net Lease from $14.50 to $16.00 and gave the company a "sell" rating in a report on Friday, September 13th. Citizens Jmp raised Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, December 17th. UBS Group began coverage on Broadstone Net Lease in a report on Thursday, November 14th. They set a "neutral" rating and a $18.00 target price for the company. Finally, JMP Securities raised Broadstone Net Lease from a "market perform" rating to an "outperform" rating and set a $21.00 price target on the stock 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Broadstone Net Lease 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.