Ritholtz Wealth Management decreased its stake in Broadstone Net Lease, Inc. (NYSE:BNL – Free Report) by 5.8% during the 4th quarter, HoldingsChannel reports. The firm owned 24,266 shares of the company’s stock after selling 1,500 shares during the period. Ritholtz Wealth Management’s holdings in Broadstone Net Lease were worth $385,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. Xponance Inc. raised its position in Broadstone Net Lease by 5.1% in the second quarter. Xponance Inc. now owns 11,922 shares of the company’s stock worth $189,000 after acquiring an additional 580 shares in the last quarter. Evermay Wealth Management LLC boosted its position in Broadstone Net Lease by 1.4% during the 3rd quarter. Evermay Wealth Management LLC now owns 49,186 shares of the company’s stock worth $937,000 after acquiring an additional 677 shares during the period. Cerity Partners LLC increased its stake in Broadstone Net Lease by 2.2% in the 3rd 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. Stifel Financial Corp boosted its position in Broadstone Net Lease by 6.5% during the third quarter. Stifel Financial Corp now owns 15,470 shares of the company’s stock valued at $293,000 after purchasing an additional 939 shares during the last quarter. Finally, QRG Capital Management Inc. increased its holdings in Broadstone Net Lease by 10.1% in the third quarter. QRG Capital Management Inc. now owns 13,247 shares of the company’s stock worth $251,000 after buying an additional 1,220 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities analysts have commented on the company. JMP Securities upgraded 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 initiated coverage on Broadstone Net Lease in a report on Thursday, November 14th. They set a “neutral” rating and a $18.00 price objective on the stock. Finally, Citizens Jmp raised shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, four have issued 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, Broadstone Net Lease presently has a consensus rating of “Hold” and a consensus target price of $18.60.
Broadstone Net Lease Stock Up 1.7 %
BNL opened at $16.03 on Wednesday. The company has a fifty day simple moving average of $16.48 and a 200 day simple moving average of $17.40. The stock has a market cap of $3.02 billion, a P/E ratio of 21.09 and a beta of 1.11. Broadstone Net Lease, Inc. has a 12 month low of $14.20 and a 12 month 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 (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.15). Broadstone Net Lease had a return on equity of 4.47% and a net margin of 33.56%. The business had revenue of $108.40 million during the quarter, compared to the consensus estimate of $106.47 million. During the same quarter last year, the company earned $0.36 earnings per share. On average, equities research analysts expect that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current fiscal year.
Broadstone Net Lease Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 7.24%. The ex-dividend date of this dividend was Tuesday, December 31st. Broadstone Net Lease’s payout ratio is currently 152.63%.
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.
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