Cibc World Markets Corp Buys Shares of 17,654 Broadstone Net Lease, Inc. (NYSE:BNL)

Cibc World Markets Corp purchased a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 17,654 shares of the company’s stock, valued at approximately $280,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Thrivent Financial for Lutherans acquired a new position in Broadstone Net Lease during the third quarter worth $3,186,000. Pathstone Holdings LLC raised its stake in shares of Broadstone Net Lease by 30.6% during the 3rd quarter. Pathstone Holdings LLC now owns 95,977 shares of the company’s stock worth $1,819,000 after buying an additional 22,461 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Broadstone Net Lease in the 3rd quarter worth about $633,000. Citigroup Inc. grew its stake in Broadstone Net Lease by 86.0% in the 3rd quarter. Citigroup Inc. now owns 246,987 shares of the company’s stock valued at $4,680,000 after acquiring an additional 114,215 shares during the last quarter. Finally, Cerity Partners LLC increased its holdings in Broadstone Net Lease by 2.2% during the 3rd quarter. Cerity Partners LLC now owns 40,480 shares of the company’s stock valued at $767,000 after acquiring an additional 886 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Price Performance

NYSE:BNL opened at $16.82 on Wednesday. The firm has a market cap of $3.18 billion, a PE ratio of 19.33 and a beta of 1.09. The firm has a 50 day simple moving average of $16.23 and a 200-day simple moving average of $17.01. Broadstone Net Lease, Inc. has a 1-year low of $14.21 and a 1-year high of $19.15.

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 the consensus estimate 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. As a group, sell-side analysts expect 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 announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.29 per share. The ex-dividend date is Monday, March 31st. This represents a $1.16 annualized dividend and a yield of 6.90%. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 133.33%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BNL. JMP Securities raised shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a report on Tuesday, December 17th. Citizens Jmp raised Broadstone Net Lease from a “hold” rating to a “strong-buy” rating 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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Broadstone Net Lease currently has an average rating of “Hold” and an average 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.