Resona Asset Management Co. Ltd. Purchases New Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Resona Asset Management Co. Ltd. bought a new stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 74,800 shares of the company's stock, valued at approximately $1,192,000.

Several other institutional investors have also recently modified their holdings of BNL. Principal Financial Group Inc. lifted its stake in shares of Broadstone Net Lease by 1.6% during the fourth quarter. Principal Financial Group Inc. now owns 14,276,250 shares of the company's stock valued at $226,423,000 after buying an additional 227,833 shares during the period. Geode Capital Management LLC grew its stake in Broadstone Net Lease by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 4,860,444 shares of the company's stock worth $77,103,000 after buying an additional 15,501 shares during the period. Centersquare Investment Management LLC increased its holdings in Broadstone Net Lease by 7.1% in the 4th quarter. Centersquare Investment Management LLC now owns 4,011,419 shares of the company's stock valued at $63,621,000 after purchasing an additional 265,428 shares in the last quarter. Aew Capital Management L P raised its holdings in shares of Broadstone Net Lease by 2.3% during the 4th quarter. Aew Capital Management L P now owns 3,135,949 shares of the company's stock valued at $49,736,000 after buying an additional 69,690 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Broadstone Net Lease by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,077,513 shares of the company's stock worth $48,809,000 after purchasing an additional 71,709 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BNL. BMO Capital Markets set a $20.00 price objective on Broadstone Net Lease and gave the company an "outperform" rating in a research note on Monday, March 24th. JMP Securities raised shares of Broadstone Net Lease from a "market perform" rating to an "outperform" rating and set a $21.00 target price for the company in a research note on Tuesday, December 17th. Finally, Citizens Jmp raised Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $18.83.

Broadstone Net Lease Stock Up 1.8 %

NYSE:BNL traded up $0.29 during trading hours on Wednesday, reaching $16.06. 231,049 shares of the company's stock were exchanged, compared to its average volume of 1,322,828. The business's 50-day simple moving average is $16.29 and its two-hundred day simple moving average is $16.72. The company has a market capitalization of $3.03 billion, a P/E ratio of 18.46 and a beta of 1.03. Broadstone Net Lease, Inc. has a 12 month low of $13.96 and a 12 month high of $19.15.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last issued 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. 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 the consensus estimate of $109.80 million. As a group, sell-side analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.29 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a yield of 7.22%. Broadstone Net Lease's dividend payout ratio (DPR) 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.