Broadstone Net Lease, Inc. (NYSE:BNL) Stake Lessened by United Capital Financial Advisors LLC

United Capital Financial Advisors LLC decreased its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 15.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 756,436 shares of the company's stock after selling 137,235 shares during the quarter. United Capital Financial Advisors LLC owned about 0.40% of Broadstone Net Lease worth $11,997,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Aew Capital Management L P grew its stake 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. Wealth Enhancement Advisory Services LLC grew its stake in Broadstone Net Lease by 30.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 466,782 shares of the company's stock worth $7,403,000 after buying an additional 108,907 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Broadstone Net Lease by 79.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 44,955 shares of the company's stock worth $705,000 after purchasing an additional 19,839 shares during the period. Bank of New York Mellon Corp raised its position in Broadstone Net Lease by 15.0% in the fourth quarter. Bank of New York Mellon Corp now owns 1,820,961 shares of the company's stock valued at $28,880,000 after purchasing an additional 237,083 shares during the period. Finally, Intech Investment Management LLC raised its holdings in shares of Broadstone Net Lease by 234.3% during the 4th quarter. Intech Investment Management LLC now owns 111,588 shares of the company's stock valued at $1,770,000 after buying an additional 78,205 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, BMO Capital Markets set a $20.00 price objective on shares of Broadstone Net Lease and gave the company an "outperform" rating in a research note on Monday, March 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.83.

Broadstone Net Lease Stock Performance

Shares of Broadstone Net Lease stock traded up $0.14 during trading hours on Friday, reaching $16.09. The company's stock had a trading volume of 746,334 shares, compared to its average volume of 1,163,427. Broadstone Net Lease, Inc. has a one year low of $13.96 and a one year high of $19.15. The company's 50 day simple moving average is $16.32 and its 200 day simple moving average is $16.68. The stock has a market cap of $3.04 billion, a P/E ratio of 18.49 and a beta of 1.03.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last posted its 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 during the quarter, compared to analyst estimates of $109.80 million. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. On average, sell-side analysts predict that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.16 annualized dividend and a dividend yield of 7.21%. Broadstone Net Lease's dividend payout ratio is presently 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.