Kestra Investment Management LLC Buys 21,577 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Kestra Investment Management LLC raised its holdings in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 71.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,862 shares of the company's stock after buying an additional 21,577 shares during the period. Kestra Investment Management LLC's holdings in Broadstone Net Lease were worth $823,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BNL. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Broadstone Net Lease by 18.7% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 40,914 shares of the company's stock worth $775,000 after purchasing an additional 6,459 shares in the last quarter. Blue Trust Inc. lifted its stake in Broadstone Net Lease by 156.5% during the 3rd quarter. Blue Trust Inc. now owns 3,902 shares of the company's stock valued at $74,000 after acquiring an additional 2,381 shares in the last quarter. WJ Interests LLC bought a new position in Broadstone Net Lease during the 3rd quarter valued at $301,000. Courier Capital LLC bought a new position in Broadstone Net Lease during the 3rd quarter valued at $1,658,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Broadstone Net Lease by 35.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,314 shares of the company's stock valued at $138,000 after acquiring an additional 1,908 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Broadstone Net Lease Stock Performance

Broadstone Net Lease stock traded down $0.08 during midday trading on Friday, reaching $15.96. 1,015,373 shares of the stock were exchanged, compared to its average volume of 1,053,893. The firm has a market cap of $3.01 billion, a PE ratio of 18.34 and a beta of 1.11. Broadstone Net Lease, Inc. has a 52 week low of $14.20 and a 52 week high of $19.15. The company's fifty day moving average is $15.82 and its 200-day moving average is $17.17.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.16. The company had revenue of $112.13 million for 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, sell-side analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.27%. The ex-dividend date of this dividend is Monday, March 31st. Broadstone Net Lease's dividend payout ratio is currently 133.33%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BNL. 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. UBS Group assumed coverage on Broadstone Net Lease in a research note on Thursday, November 14th. They issued a "neutral" rating and a $18.00 price objective for the company. Finally, JMP Securities upgraded Broadstone Net Lease from a "market perform" rating to an "outperform" rating and set a $21.00 target price on the stock in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $18.60.

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.