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

Teacher Retirement System of Texas decreased its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 14.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its stake in Broadstone Net Lease by 139.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock valued at $43,000 after acquiring an additional 1,592 shares during the last quarter. Assetmark Inc. lifted its stake in Broadstone Net Lease by 345.1% during the fourth quarter. Assetmark Inc. now owns 4,464 shares of the company’s stock worth $71,000 after purchasing an additional 3,461 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Broadstone Net Lease by 23.7% in the 4th quarter. Blue Trust Inc. now owns 4,827 shares of the company’s stock worth $77,000 after purchasing an additional 925 shares in the last quarter. KBC Group NV increased 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 purchasing an additional 1,681 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings 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 valued at $172,000 after buying an additional 4,017 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 analysts have issued reports on the company. JMP Securities raised 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 note on Tuesday, December 17th. 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. Finally, 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. One analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $18.83.

Broadstone Net Lease Stock Performance

Shares of Broadstone Net Lease stock opened at $16.97 on Friday. Broadstone Net Lease, Inc. has a 52-week low of $14.21 and a 52-week high of $19.15. The company’s 50 day moving average price is $16.31 and its 200-day moving average price is $17.00. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 19.50 and a beta of 1.09.

Broadstone Net Lease (NYSE:BNL) last announced 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. The business had revenue of $112.13 million for the quarter, compared to analyst estimates of $109.80 million. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. As a group, equities research 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 declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 6.84%. The ex-dividend date is Monday, March 31st. Broadstone Net Lease’s payout ratio is 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.