Principal Financial Group Inc. Increases Stock Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Principal Financial Group Inc. raised its stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,276,250 shares of the company's stock after buying an additional 227,833 shares during the quarter. Principal Financial Group Inc. owned about 7.57% of Broadstone Net Lease worth $226,423,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of BNL. Brookfield Corp ON acquired a new stake in shares of Broadstone Net Lease during the third quarter worth about $18,444,000. Wellington Management Group LLP acquired a new stake in shares of Broadstone Net Lease during the third quarter worth about $12,574,000. Systematic Financial Management LP lifted its position in shares of Broadstone Net Lease by 298.1% during the third quarter. Systematic Financial Management LP now owns 747,706 shares of the company's stock worth $14,169,000 after purchasing an additional 559,906 shares in the last quarter. Columbus Macro LLC acquired a new stake in shares of Broadstone Net Lease during the fourth quarter worth about $6,269,000. Finally, Victory Capital Management Inc. lifted its position in shares of Broadstone Net Lease by 35.5% during the third quarter. Victory Capital Management Inc. now owns 1,454,507 shares of the company's stock worth $27,563,000 after purchasing an additional 380,772 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Citizens Jmp raised shares of Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a report on Tuesday, December 17th. UBS Group assumed coverage on shares of Broadstone Net Lease in a report on Thursday, November 14th. They issued a "neutral" rating and a $18.00 target price on the stock. Finally, JMP Securities raised shares of Broadstone Net Lease from a "market perform" rating to an "outperform" rating and set a $21.00 target price on the stock in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $18.60.

Broadstone Net Lease Stock Down 0.5 %

Broadstone Net Lease stock traded down $0.08 during mid-day trading on Friday, hitting $15.96. The company had a trading volume of 1,015,373 shares, compared to its average volume of 1,053,893. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 18.34 and a beta of 1.11. Broadstone Net Lease, Inc. has a 1 year low of $14.20 and a 1 year high of $19.15. The business has a fifty day moving average of $15.80 and a 200 day moving average of $17.17.

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 the consensus estimate of $0.20 by $0.16. The company had revenue of $112.13 million for the quarter, compared to analyst estimates of $109.80 million. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. Equities analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current year.

Broadstone Net Lease Announces Dividend

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

Broadstone Net Lease Company Profile

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.