EverSource Wealth Advisors LLC Purchases 1,592 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

EverSource Wealth Advisors LLC boosted its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 139.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,735 shares of the company’s stock after purchasing an additional 1,592 shares during the period. EverSource Wealth Advisors LLC’s holdings in Broadstone Net Lease were worth $43,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. raised its holdings in shares of Broadstone Net Lease by 345.1% during the 4th quarter. Assetmark Inc. now owns 4,464 shares of the company’s stock valued at $71,000 after purchasing an additional 3,461 shares in the last quarter. Blue Trust Inc. increased its position in Broadstone Net Lease by 23.7% during the fourth quarter. Blue Trust Inc. now owns 4,827 shares of the company’s stock worth $77,000 after buying an additional 925 shares during the last quarter. KBC Group NV raised its holdings in Broadstone Net Lease by 29.4% during the third quarter. KBC Group NV now owns 6,220 shares of the company’s stock valued at $118,000 after buying an additional 1,413 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Broadstone Net Lease by 58.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,842 shares of the company’s stock worth $172,000 after buying an additional 4,017 shares during the last quarter. Finally, MQS Management LLC bought a new stake in shares of Broadstone Net Lease during the 4th quarter worth about $183,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Broadstone Net Lease Stock Down 0.4 %

Shares of BNL stock opened at $17.19 on Friday. Broadstone Net Lease, Inc. has a 12 month low of $14.21 and a 12 month high of $19.15. The firm has a market cap of $3.25 billion, a PE ratio of 19.76 and a beta of 1.09. The stock has a 50 day moving average of $16.13 and a 200-day moving average of $17.05.

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

Broadstone Net Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.16 annualized dividend and a yield of 6.75%. Broadstone Net Lease’s dividend payout ratio is 133.33%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BNL shares. JMP Securities raised Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock 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 note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.60.

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.