Exchange Traded Concepts LLC Sells 15,992 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Exchange Traded Concepts LLC reduced its position in shares of Broadstone Net Lease, Inc. (NYSE:BNLFree Report) by 13.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 99,801 shares of the company’s stock after selling 15,992 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Broadstone Net Lease were worth $1,583,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in BNL. Cetera Trust Company N.A increased its position in shares of Broadstone Net Lease by 21.6% in the fourth quarter. Cetera Trust Company N.A now owns 14,350 shares of the company’s stock valued at $228,000 after acquiring an additional 2,550 shares during the period. Perpetual Ltd increased its holdings in Broadstone Net Lease by 5.8% during the 4th quarter. Perpetual Ltd now owns 88,319 shares of the company’s stock valued at $1,401,000 after purchasing an additional 4,830 shares during the period. Prairiewood Capital LLC lifted its holdings in Broadstone Net Lease by 0.3% in the 4th quarter. Prairiewood Capital LLC now owns 317,344 shares of the company’s stock worth $5,033,000 after buying an additional 994 shares during the period. Tallon Kerry Patrick bought a new stake in shares of Broadstone Net Lease in the 4th quarter worth approximately $4,669,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of 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 valued at $7,403,000 after buying an additional 108,907 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

BNL has been the subject of a number of research analyst reports. Citizens Jmp raised Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. UBS Group initiated coverage on shares of Broadstone Net Lease in a research note on Thursday, November 14th. They set a “neutral” rating and a $18.00 target price on the stock. Finally, 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Broadstone Net Lease has a consensus rating of “Hold” and a consensus target price of $18.60.

Get Our Latest Analysis on Broadstone Net Lease

Broadstone Net Lease Price Performance

Shares of NYSE BNL opened at $16.33 on Tuesday. The stock has a market cap of $3.08 billion, a P/E ratio of 21.48 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. The firm has a 50-day moving average of $16.39 and a 200 day moving average of $17.40.

Broadstone Net Lease (NYSE:BNLGet Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $108.40 million during the quarter, compared to the consensus estimate of $106.47 million. During the same period in the prior year, the firm earned $0.36 earnings per share. 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. Stockholders of record on Tuesday, December 31st were given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 7.11%. The ex-dividend date of this dividend was Tuesday, December 31st. Broadstone Net Lease’s dividend payout ratio is presently 152.63%.

Broadstone Net Lease Profile

(Free Report)

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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Institutional Ownership by Quarter for Broadstone Net Lease (NYSE:BNL)

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