JPL Wealth Management LLC acquired a new stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 32,358 shares of the company's stock, valued at approximately $513,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BNL. EverSource Wealth Advisors LLC grew its position in Broadstone Net Lease by 139.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company's stock valued at $43,000 after purchasing an additional 1,592 shares in the last quarter. Assetmark Inc. grew its position in Broadstone Net Lease by 345.1% during the fourth quarter. Assetmark Inc. now owns 4,464 shares of the company's stock valued at $71,000 after purchasing an additional 3,461 shares in the last quarter. US Bancorp DE grew its position in Broadstone Net Lease by 636.6% in the third quarter. US Bancorp DE now owns 3,941 shares of the company's stock worth $75,000 after acquiring an additional 3,406 shares in the last quarter. Blue Trust Inc. grew its position in 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 acquiring an additional 925 shares in the last quarter. Finally, KBC Group NV grew its position in Broadstone Net Lease by 29.4% in the third quarter. KBC Group NV now owns 6,220 shares of the company's stock worth $118,000 after acquiring an additional 1,413 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
BNL has been the subject of several recent research reports. Citizens Jmp raised shares of Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, December 17th. JMP Securities raised 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 report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Broadstone Net Lease presently has a consensus rating of "Hold" and a consensus target price of $18.60.
Read Our Latest Report on BNL
Broadstone Net Lease Stock Performance
Shares of Broadstone Net Lease stock traded up $0.05 on Monday, reaching $17.11. The stock had a trading volume of 984,602 shares, compared to its average volume of 1,063,217. The business's 50-day moving average price is $16.01 and its two-hundred day moving average price is $17.07. Broadstone Net Lease, Inc. has a fifty-two week low of $14.21 and a fifty-two week high of $19.15. The stock has a market cap of $3.23 billion, a P/E ratio of 19.66 and a beta of 1.09.
Broadstone Net Lease (NYSE:BNL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.16. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. The business had revenue of $112.13 million during the quarter, compared to analysts' expectations of $109.80 million. As a group, equities analysts forecast that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.
Broadstone Net Lease Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.78%. The ex-dividend date is Monday, March 31st. Broadstone Net Lease's payout ratio 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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