New England Private Wealth Advisors LLC trimmed its position in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 2.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,694,305 shares of the company's stock after selling 38,673 shares during the quarter. Broadstone Net Lease makes up 4.3% of New England Private Wealth Advisors LLC's holdings, making the stock its 4th largest position. New England Private Wealth Advisors LLC owned about 0.90% of Broadstone Net Lease worth $26,872,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Broadstone Net Lease by 44.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 97,960 shares of the company's stock valued at $1,554,000 after purchasing an additional 30,309 shares during the last quarter. MQS Management LLC acquired a new stake in shares of Broadstone Net Lease during the 4th quarter worth about $183,000. AlphaQuest LLC acquired a new stake in shares of Broadstone Net Lease during the 4th quarter worth about $417,000. PNC Financial Services Group Inc. boosted its holdings in shares of Broadstone Net Lease by 58.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,842 shares of the company's stock worth $172,000 after buying an additional 4,017 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in Broadstone Net Lease in the 4th quarter valued at about $4,481,000. Institutional investors own 89.07% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have issued reports on BNL shares. 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. JMP Securities upgraded Broadstone Net Lease from a "market perform" rating to an "outperform" rating and set a $21.00 price target for the company in a research note on Tuesday, December 17th. Finally, UBS Group initiated coverage on Broadstone Net Lease in a research report on Thursday, November 14th. They set a "neutral" rating and a $18.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Broadstone Net Lease has an average rating of "Hold" and an average price target of $18.60.
View Our Latest Research Report on BNL
Broadstone Net Lease Trading Down 0.1 %
Shares of Broadstone Net Lease stock opened at $16.94 on Wednesday. The firm has a market capitalization of $3.20 billion, a PE ratio of 19.47 and a beta of 1.09. The firm's 50 day moving average is $15.95 and its 200 day moving average is $17.10. Broadstone Net Lease, Inc. has a 1 year low of $14.20 and a 1 year high of $19.15.
Broadstone Net Lease (NYSE:BNL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.16. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. The company had revenue of $112.13 million during the quarter, compared to analysts' expectations of $109.80 million. As a group, research analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current year.
Broadstone Net Lease Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 6.85%. The ex-dividend date is Monday, March 31st. Broadstone Net Lease's dividend payout ratio is presently 133.33%.
About Broadstone Net Lease
(
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Broadstone Net Lease, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Broadstone Net Lease wasn't on the list.
While Broadstone Net Lease currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
