Broadstone Net Lease, Inc. (NYSE:BNL) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. grew its position in Broadstone Net Lease, Inc. (NYSE:BNL) by 21.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,762,625 shares of the company’s stock after acquiring an additional 308,118 shares during the quarter. Victory Capital Management Inc.’s holdings in Broadstone Net Lease were worth $27,955,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of BNL. US Bancorp DE boosted its holdings in shares of Broadstone Net Lease by 636.6% in the third quarter. US Bancorp DE now owns 3,941 shares of the company’s stock valued at $75,000 after acquiring an additional 3,406 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Broadstone Net Lease by 12.3% in the third quarter. Van ECK Associates Corp now owns 32,419 shares of the company’s stock valued at $591,000 after acquiring an additional 3,558 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of Broadstone Net Lease by 10.1% in the third quarter. QRG Capital Management Inc. now owns 13,247 shares of the company’s stock valued at $251,000 after acquiring an additional 1,220 shares during the period. Versor Investments LP boosted its holdings in shares of Broadstone Net Lease by 196.9% in the third quarter. Versor Investments LP now owns 38,289 shares of the company’s stock valued at $726,000 after acquiring an additional 25,391 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Broadstone Net Lease by 29.4% in the third quarter. KBC Group NV now owns 6,220 shares of the company’s stock valued at $118,000 after acquiring an additional 1,413 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BNL shares. Citizens Jmp raised Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. JMP Securities raised Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Tuesday, December 17th. Finally, UBS Group began coverage on Broadstone Net Lease in a report on Thursday, November 14th. They set a “neutral” rating and a $18.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $18.60.

Broadstone Net Lease Stock Performance

Broadstone Net Lease stock opened at $17.02 on Tuesday. Broadstone Net Lease, Inc. has a one year low of $14.20 and a one year high of $19.15. The business has a fifty day moving average of $15.92 and a two-hundred day moving average of $17.11. The company has a market cap of $3.21 billion, a P/E ratio of 19.56 and a beta of 1.09.

Broadstone Net Lease (NYSE:BNL) last released its earnings results on Wednesday, February 19th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.16. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. The company had revenue of $112.13 million during the quarter, compared to the consensus estimate of $109.80 million. Sell-side analysts predict that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.

Broadstone Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 6.82%. The ex-dividend date of this dividend is Monday, March 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 133.33%.

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.