KLP Kapitalforvaltning AS Takes Position in Broadstone Net Lease, Inc. (NYSE:BNL)

KLP Kapitalforvaltning AS bought a new stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 51,900 shares of the company's stock, valued at approximately $836,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sei Investments Co. raised its stake in Broadstone Net Lease by 2.0% in the fourth quarter. Sei Investments Co. now owns 845,136 shares of the company's stock valued at $13,404,000 after buying an additional 16,458 shares during the last quarter. American Century Companies Inc. raised its position in shares of Broadstone Net Lease by 4.1% in the 4th quarter. American Century Companies Inc. now owns 73,757 shares of the company's stock valued at $1,170,000 after purchasing an additional 2,882 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Broadstone Net Lease in the 4th quarter worth approximately $886,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Broadstone Net Lease by 86.3% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 61,002 shares of the company's stock worth $967,000 after purchasing an additional 28,253 shares during the last quarter. Finally, Xponance Inc. increased its stake in Broadstone Net Lease by 10.5% during the 4th quarter. Xponance Inc. now owns 13,577 shares of the company's stock valued at $215,000 after purchasing an additional 1,293 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. BMO Capital Markets set a $20.00 price target on shares of Broadstone Net Lease and gave the stock an "outperform" rating in a report on Monday, March 24th. 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 research note on Tuesday, December 17th. Finally, Citizens Jmp upgraded shares of Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Broadstone Net Lease presently has an average rating of "Hold" and an average price target of $18.83.

Broadstone Net Lease Price Performance

Shares of BNL traded down $0.56 during mid-day trading on Friday, reaching $16.16. The stock had a trading volume of 1,813,303 shares, compared to its average volume of 1,139,054. The business's fifty day moving average is $16.41 and its 200 day moving average is $16.93. Broadstone Net Lease, Inc. has a 52-week low of $14.21 and a 52-week high of $19.15. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 18.57 and a beta of 1.03.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate 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, sell-side analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 7.18%. The ex-dividend date is Monday, March 31st. Broadstone Net Lease's payout ratio is currently 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.