By otakuyassine3@gmail.com 
Xponance Inc. raised its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL – Free Report) by 10.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,577 shares of the company’s stock after purchasing an additional 1,293 shares during the period. Xponance Inc.’s holdings in Broadstone Net Lease were worth $215,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in Broadstone Net Lease by 1.6% during the fourth quarter. Principal Financial Group Inc. now owns 14,276,250 shares of the company’s stock valued at $226,423,000 after buying an additional 227,833 shares during the last quarter. Geode Capital Management LLC increased its stake in Broadstone Net Lease by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,844,943 shares of the company’s stock worth $91,827,000 after acquiring an additional 62,515 shares during the last quarter. Aew Capital Management L P raised its holdings 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 worth $49,736,000 after acquiring an additional 69,690 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position 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 valued at $48,809,000 after acquiring an additional 71,709 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Broadstone Net Lease by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 1,834,413 shares of the company’s stock valued at $34,762,000 after purchasing an additional 84,509 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on BNL shares. 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 raised shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Tuesday, December 17th. Finally, BMO Capital Markets set a $20.00 price objective on Broadstone Net Lease and gave the company an “outperform” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $18.83.
Read Our Latest Research Report on Broadstone Net Lease
Broadstone Net Lease Price Performance
Broadstone Net Lease stock opened at $16.97 on Friday. 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 1-year low of $14.21 and a 1-year high of $19.15. The company’s 50-day moving average is $16.31 and its 200 day moving average is $17.00.
Broadstone Net Lease (NYSE:BNL – Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $112.13 million during the quarter, compared to analyst estimates of $109.80 million. Research analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.
Broadstone Net Lease Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date is Monday, March 31st. Broadstone Net Lease’s dividend payout ratio is currently 133.33%.
About Broadstone Net Lease
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.
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