Zurcher Kantonalbank Zurich Cantonalbank Purchases 30,309 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Broadstone Net Lease, Inc. (NYSE:BNL) by 44.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 97,960 shares of the company’s stock after buying an additional 30,309 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Broadstone Net Lease were worth $1,554,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its holdings in Broadstone Net Lease by 1.6% in the 4th quarter. Principal Financial Group Inc. now owns 14,276,250 shares of the company’s stock worth $226,423,000 after purchasing an additional 227,833 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Broadstone Net Lease by 1.3% during the third quarter. Geode Capital Management LLC now owns 4,844,943 shares of the company’s stock worth $91,827,000 after buying an additional 62,515 shares during the last quarter. Aew Capital Management L P lifted its holdings in shares of Broadstone Net Lease by 2.3% during the fourth quarter. Aew Capital Management L P now owns 3,135,949 shares of the company’s stock worth $49,736,000 after buying an additional 69,690 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Broadstone Net Lease by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,077,513 shares of the company’s stock worth $48,809,000 after buying an additional 71,709 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Broadstone Net Lease by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 1,834,413 shares of the company’s stock worth $34,762,000 after buying an additional 84,509 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on BNL shares. Citizens Jmp upgraded Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. JMP Securities upgraded 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. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $18.60.

Broadstone Net Lease Trading Up 0.3 %

BNL opened at $17.11 on Tuesday. The stock has a market cap of $3.23 billion, a PE ratio of 19.66 and a beta of 1.09. Broadstone Net Lease, Inc. has a 1 year low of $14.21 and a 1 year high of $19.15. The stock’s 50 day simple moving average is $16.04 and its 200-day simple moving average is $17.06.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.16. The business had revenue of $112.13 million for the quarter, compared to analysts’ expectations of $109.80 million. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. Equities analysts forecast that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The business also recently declared 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. This represents a $1.16 dividend on an annualized basis and a yield of 6.78%. The ex-dividend date is Monday, March 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is 133.33%.

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.