Vanguard Group Inc. Reduces Stake in Broadstone Net Lease, Inc. (NYSE:BNL)

Vanguard Group Inc. lessened its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 0.4% in the fourth quarter, Holdings Channel reports. The fund owned 27,445,094 shares of the company’s stock after selling 103,008 shares during the quarter. Vanguard Group Inc. owned about 0.15% of Broadstone Net Lease worth $435,279,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its stake in shares of Broadstone Net Lease by 139.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock valued at $43,000 after purchasing an additional 1,592 shares during the period. Assetmark Inc. grew its position in 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 buying an additional 3,461 shares during the period. Blue Trust Inc. increased its holdings in Broadstone Net Lease by 23.7% during the fourth quarter. Blue Trust Inc. now owns 4,827 shares of the company’s stock valued at $77,000 after buying an additional 925 shares during the last quarter. KBC Group NV raised its position in Broadstone Net Lease by 27.0% in the fourth quarter. KBC Group NV now owns 7,901 shares of the company’s stock worth $125,000 after acquiring an additional 1,681 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Broadstone Net Lease by 58.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,842 shares of the company’s stock worth $172,000 after acquiring an additional 4,017 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. BMO Capital Markets set a $20.00 target price on Broadstone Net Lease and gave the stock an “outperform” rating in a report on Monday, March 24th. 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. Finally, Citizens Jmp upgraded Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $18.83.

Broadstone Net Lease Trading Up 0.3 %

NYSE:BNL opened at $17.09 on Wednesday. The stock has a 50-day moving average price of $16.36 and a 200 day moving average price of $16.96. The stock has a market capitalization of $3.23 billion, a P/E ratio of 19.64 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 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. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. The business had revenue of $112.13 million during the quarter, compared to analyst estimates of $109.80 million. On average, research analysts predict 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 issued 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 6.79%. 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.