Teacher Retirement System of Texas Decreases Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Teacher Retirement System of Texas trimmed its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 14.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,491 shares of the company’s stock after selling 13,465 shares during the quarter. Teacher Retirement System of Texas’ holdings in Broadstone Net Lease were worth $1,261,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. raised its holdings in shares of 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 period. Geode Capital Management LLC raised its stake in shares of Broadstone Net Lease by 1.3% in the third quarter. Geode Capital Management LLC now owns 4,844,943 shares of the company’s stock valued at $91,827,000 after buying an additional 62,515 shares during the period. Aew Capital Management L P lifted its position in shares of Broadstone Net Lease by 2.3% during the 4th quarter. Aew Capital Management L P now owns 3,135,949 shares of the company’s stock valued at $49,736,000 after buying an additional 69,690 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Broadstone Net Lease by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,077,513 shares of the company’s stock worth $48,809,000 after acquiring an additional 71,709 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Broadstone Net Lease by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,834,413 shares of the company’s stock worth $34,762,000 after acquiring an additional 84,509 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on BNL. Citizens Jmp upgraded shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research 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 price target on the stock in a research note on Tuesday, December 17th. Finally, BMO Capital Markets set a $20.00 price objective on shares of Broadstone Net Lease and gave the company an “outperform” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Broadstone Net Lease presently has an average rating of “Hold” and an average target price of $18.83.

Broadstone Net Lease Trading Down 0.5 %

BNL stock opened at $16.97 on Friday. The firm has a 50 day moving average of $16.31 and a 200-day moving average of $17.00. The firm has a market capitalization of $3.20 billion, a P/E ratio of 19.50 and a beta of 1.09. Broadstone Net Lease, Inc. has a 12 month low of $14.21 and a 12 month high of $19.15.

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

Broadstone Net Lease Dividend Announcement

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 paid a $0.29 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a yield of 6.84%. Broadstone Net Lease’s dividend payout ratio is currently 133.33%.

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.