PNC Financial Services Group Inc. Purchases 4,017 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

PNC Financial Services Group Inc. raised its position in Broadstone Net Lease, Inc. (NYSE:BNL) by 58.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,842 shares of the company’s stock after acquiring an additional 4,017 shares during the period. PNC Financial Services Group Inc.’s holdings in Broadstone Net Lease were worth $172,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Assetmark Inc. increased its position in shares of Broadstone Net Lease by 345.1% during the fourth quarter. Assetmark Inc. now owns 4,464 shares of the company’s stock valued at $71,000 after purchasing an additional 3,461 shares during the period. Blue Trust Inc. boosted its stake 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 in the last quarter. KBC Group NV boosted its position in shares of Broadstone Net Lease by 27.0% during the 4th quarter. KBC Group NV now owns 7,901 shares of the company’s stock valued at $125,000 after acquiring an additional 1,681 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Broadstone Net Lease by 13,015.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 11,542 shares of the company’s stock worth $183,000 after purchasing an additional 11,454 shares during the period. Finally, FMR LLC boosted its holdings in Broadstone Net Lease by 84.0% during the third quarter. FMR LLC now owns 9,992 shares of the company’s stock valued at $189,000 after purchasing an additional 4,562 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Stock Performance

Shares of BNL stock opened at $16.84 on Monday. The stock’s fifty day moving average is $16.17 and its 200-day moving average is $17.02. The stock has a market capitalization of $3.18 billion, a PE ratio of 19.35 and a beta of 1.09. Broadstone Net Lease, Inc. has a 52 week low of $14.21 and a 52 week high of $19.15.

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

Broadstone Net Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.29 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a yield of 6.89%. Broadstone Net Lease’s payout ratio is presently 133.33%.

Analyst Ratings Changes

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

Broadstone Net Lease Company 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.