Westpac Banking Corp Sells 16,858 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Westpac Banking Corp reduced its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 14.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,404 shares of the company's stock after selling 16,858 shares during the period. Westpac Banking Corp owned approximately 0.05% of Broadstone Net Lease worth $1,545,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Cerity Partners LLC boosted its stake in Broadstone Net Lease by 2.2% during the third quarter. Cerity Partners LLC now owns 40,480 shares of the company's stock valued at $767,000 after buying an additional 886 shares during the period. FMR LLC boosted its position in shares of Broadstone Net Lease by 84.0% during the 3rd quarter. FMR LLC now owns 9,992 shares of the company's stock valued at $189,000 after acquiring an additional 4,562 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Broadstone Net Lease by 4.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 67,651 shares of the company's stock worth $1,282,000 after purchasing an additional 2,580 shares in the last quarter. Verition Fund Management LLC grew its holdings in shares of Broadstone Net Lease by 310.5% during the third quarter. Verition Fund Management LLC now owns 41,847 shares of the company's stock worth $793,000 after purchasing an additional 31,654 shares in the last quarter. Finally, Systematic Financial Management LP increased its position in shares of Broadstone Net Lease by 298.1% in the third quarter. Systematic Financial Management LP now owns 747,706 shares of the company's stock worth $14,169,000 after purchasing an additional 559,906 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Broadstone Net Lease Stock Performance

NYSE:BNL traded up $0.66 during trading hours on Wednesday, reaching $15.38. The company's stock had a trading volume of 3,389,569 shares, compared to its average volume of 1,157,774. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 17.68 and a beta of 1.03. The firm has a 50-day simple moving average of $16.31 and a 200-day simple moving average of $16.81. Broadstone Net Lease, Inc. has a 1 year low of $13.96 and a 1 year 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 EPS for the quarter, topping the consensus estimate of $0.20 by $0.16. The firm had revenue of $112.13 million for the quarter, compared to the consensus estimate of $109.80 million. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. Equities analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.29 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.16 annualized dividend and a yield of 7.54%. Broadstone Net Lease's payout ratio is currently 133.33%.

Wall Street Analysts Forecast Growth

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

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.