Tallon Kerry Patrick Takes $4.67 Million Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Tallon Kerry Patrick purchased a new stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 297,587 shares of the company's stock, valued at approximately $4,669,000. Broadstone Net Lease accounts for about 4.5% of Tallon Kerry Patrick's investment portfolio, making the stock its 5th biggest holding. Tallon Kerry Patrick owned approximately 0.16% of Broadstone Net Lease as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC increased its position in Broadstone Net Lease by 257.5% during the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company's stock worth $33,000 after acquiring an additional 1,272 shares during the period. Quarry LP increased its holdings in shares of Broadstone Net Lease by 93.1% during the 2nd quarter. Quarry LP now owns 2,556 shares of the company's stock worth $41,000 after purchasing an additional 1,232 shares during the period. Blue Trust Inc. raised its position in shares of Broadstone Net Lease by 156.5% during the third quarter. Blue Trust Inc. now owns 3,902 shares of the company's stock valued at $74,000 after buying an additional 2,381 shares during the last quarter. US Bancorp DE raised its position in shares of Broadstone Net Lease by 636.6% during the third quarter. US Bancorp DE now owns 3,941 shares of the company's stock valued at $75,000 after buying an additional 3,406 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of Broadstone Net Lease by 29.4% in the third quarter. KBC Group NV now owns 6,220 shares of the company's stock valued at $118,000 after buying an additional 1,413 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Broadstone Net Lease Stock Performance

Shares of NYSE BNL traded down $0.12 during trading on Friday, reaching $15.75. The company had a trading volume of 781,777 shares, compared to its average volume of 925,507. Broadstone Net Lease, Inc. has a 52 week low of $14.20 and a 52 week high of $19.15. The business's 50 day moving average price is $16.58 and its 200-day moving average price is $17.38. The stock has a market cap of $2.97 billion, a PE ratio of 20.73 and a beta of 1.11.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.15). The company had revenue of $108.40 million during the quarter, compared to the consensus estimate of $106.47 million. Broadstone Net Lease had a return on equity of 4.47% and a net margin of 33.56%. During the same quarter last year, the firm earned $0.36 EPS. Equities analysts anticipate that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.29 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a yield of 7.36%. Broadstone Net Lease's payout ratio is presently 152.63%.

Analysts Set New Price Targets

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

Broadstone Net Lease 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.