Wells Fargo & Company MN Buys 20,814 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Wells Fargo & Company MN lifted its position in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 10.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 220,889 shares of the company's stock after purchasing an additional 20,814 shares during the period. Wells Fargo & Company MN owned about 0.12% of Broadstone Net Lease worth $3,503,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Aew Capital Management L P boosted its holdings in Broadstone Net Lease by 2.3% in the fourth quarter. Aew Capital Management L P now owns 3,135,949 shares of the company's stock valued at $49,736,000 after acquiring an additional 69,690 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Broadstone Net Lease by 30.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 466,782 shares of the company's stock worth $7,403,000 after purchasing an additional 108,907 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of 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 valued at $705,000 after purchasing an additional 19,839 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Broadstone Net Lease by 15.0% during 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 buying an additional 237,083 shares during the period. Finally, Intech Investment Management LLC raised its stake in Broadstone Net Lease by 234.3% in the fourth quarter. Intech Investment Management LLC now owns 111,588 shares of the company's stock worth $1,770,000 after buying an additional 78,205 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Broadstone Net Lease Stock Down 0.1 %

Shares of NYSE BNL traded down $0.01 during trading on Friday, reaching $15.93. The company had a trading volume of 588,608 shares, compared to its average volume of 1,164,498. The business's 50-day moving average is $16.38 and its 200 day moving average is $16.60. The stock has a market cap of $3.01 billion, a PE ratio of 18.31 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 released its quarterly earnings data on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.16. The business had revenue of $112.13 million during 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%. On average, analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.29 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.16 annualized dividend and a yield of 7.28%. Broadstone Net Lease's dividend payout ratio (DPR) is presently 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.