Wealth Enhancement Advisory Services LLC Increases Stock Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Wealth Enhancement Advisory Services LLC boosted its stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 30.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 466,782 shares of the company's stock after buying an additional 108,907 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.25% of Broadstone Net Lease worth $7,403,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Canandaigua National Trust Co of Florida acquired a new position in shares of Broadstone Net Lease in the fourth quarter valued at approximately $1,143,000. JPMorgan Chase & Co. grew its stake in Broadstone Net Lease by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,834,413 shares of the company's stock worth $34,762,000 after acquiring an additional 84,509 shares during the period. Franklin Resources Inc. raised its holdings in Broadstone Net Lease by 66.8% in the 3rd quarter. Franklin Resources Inc. now owns 574,124 shares of the company's stock valued at $10,512,000 after acquiring an additional 229,874 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Broadstone Net Lease by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,844,943 shares of the company's stock worth $91,827,000 after purchasing an additional 62,515 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Broadstone Net Lease by 131.1% during the third quarter. Barclays PLC now owns 318,142 shares of the company's stock worth $6,028,000 after purchasing an additional 180,456 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Wall Street Analysts Forecast Growth

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

Broadstone Net Lease Stock Up 1.3 %

Shares of NYSE BNL traded up $0.20 during midday trading on Tuesday, hitting $15.51. The stock had a trading volume of 965,219 shares, compared to its average volume of 985,265. The company has a fifty day moving average price of $16.69 and a 200 day moving average price of $17.41. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 20.41 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.

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

Broadstone Net Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.16 annualized dividend and a yield of 7.48%. Broadstone Net Lease's dividend payout ratio is currently 152.63%.

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.