JPMorgan Chase & Co. Grows Stock Position in Broadstone Net Lease, Inc. (NYSE:BNL)

JPMorgan Chase & Co. boosted its position in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 4.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,834,413 shares of the company's stock after purchasing an additional 84,509 shares during the period. JPMorgan Chase & Co. owned about 0.97% of Broadstone Net Lease worth $34,762,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BNL. Natixis Advisors LLC boosted its holdings in shares of Broadstone Net Lease by 63.2% in the third quarter. Natixis Advisors LLC now owns 114,272 shares of the company's stock worth $2,165,000 after acquiring an additional 44,264 shares during the period. Sei Investments Co. boosted its stake in Broadstone Net Lease by 20.8% in the 2nd quarter. Sei Investments Co. now owns 545,556 shares of the company's stock worth $8,658,000 after purchasing an additional 94,092 shares during the period. Victory Capital Management Inc. grew its holdings in Broadstone Net Lease by 2,302.8% during the 2nd quarter. Victory Capital Management Inc. now owns 1,073,735 shares of the company's stock valued at $17,040,000 after buying an additional 1,029,048 shares in the last quarter. Meritage Portfolio Management bought a new stake in shares of Broadstone Net Lease during the third quarter valued at about $5,610,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Broadstone Net Lease in the third quarter worth about $633,000. Institutional investors own 89.07% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. JMP Securities raised shares of Broadstone Net Lease from a "market perform" rating to an "outperform" rating and set a $21.00 price objective 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 target for the company. The Goldman Sachs Group increased their price objective on Broadstone Net Lease from $14.50 to $16.00 and gave the stock a "sell" rating in a research report on Friday, September 13th. Finally, Citizens Jmp raised Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Broadstone Net Lease currently has a consensus rating of "Hold" and an average price target of $18.60.

Broadstone Net Lease Stock Performance

BNL traded down $0.09 during trading on Tuesday, reaching $15.61. The stock had a trading volume of 835,859 shares, compared to its average volume of 892,688. The business has a 50-day moving average of $16.87 and a 200-day moving average of $17.42. Broadstone Net Lease, Inc. has a one year low of $14.20 and a one year high of $19.15. The stock has a market cap of $2.94 billion, a PE ratio of 20.54 and a beta of 1.11.

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 the consensus estimate of $0.34 by ($0.15). The firm had revenue of $108.40 million for the quarter, compared to the consensus estimate of $106.47 million. Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.47%. During the same quarter last year, the company posted $0.36 earnings per share. Equities research analysts forecast that Broadstone Net Lease, Inc. will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 7.43%. The ex-dividend date is Tuesday, December 31st. Broadstone Net Lease's dividend payout ratio (DPR) is presently 152.63%.

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.