Broadstone Net Lease, Inc. (NYSE:BNL) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. decreased its holdings in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 5.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 542,037 shares of the company's stock after selling 32,087 shares during the period. Franklin Resources Inc. owned about 0.29% of Broadstone Net Lease worth $8,597,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of BNL. State of Alaska Department of Revenue grew its holdings in shares of 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 purchasing an additional 882 shares during the last quarter. Corient Private Wealth LLC raised its stake in shares of Broadstone Net Lease by 2.2% during the fourth quarter. Corient Private Wealth LLC now owns 41,892 shares of the company's stock valued at $664,000 after acquiring an additional 907 shares in the last quarter. 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 valued at $77,000 after purchasing an additional 925 shares during the period. Stifel Financial Corp grew its position in shares of Broadstone Net Lease by 6.5% during 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 in the last quarter. Finally, Evermay Wealth Management LLC lifted its stake in Broadstone Net Lease by 2.0% in the fourth quarter. Evermay Wealth Management LLC now owns 50,155 shares of the company's stock worth $798,000 after acquiring an additional 969 shares during the period. Hedge funds and other institutional investors own 89.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. BMO Capital Markets set a $20.00 price target on Broadstone Net Lease and gave the company an "outperform" rating in a report on Monday, March 24th. Citizens Jmp upgraded Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a research note 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 objective on the stock in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $18.83.

Broadstone Net Lease Stock Up 1.9 %

NYSE:BNL traded up $0.28 during trading hours on Monday, reaching $15.35. 76,476 shares of the stock were exchanged, compared to its average volume of 1,159,553. Broadstone Net Lease, Inc. has a twelve month low of $13.96 and a twelve month high of $19.15. The business has a 50-day moving average of $16.29 and a two-hundred day moving average of $16.75. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 17.64 and a beta of 1.03.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.20 by $0.16. The company had revenue of $112.13 million during the quarter, compared to analysts' expectations of $109.80 million. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. On average, research analysts forecast that Broadstone Net Lease, Inc. will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 7.56%. The ex-dividend date is Monday, March 31st. Broadstone Net Lease's dividend payout ratio (DPR) is presently 133.33%.

About Broadstone Net Lease

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.