Commonwealth Equity Services LLC Increases Stock Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Commonwealth Equity Services LLC lifted its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 1.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,275 shares of the company’s stock after buying an additional 1,665 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Broadstone Net Lease were worth $1,575,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BNL. JPL Wealth Management LLC acquired a new stake in Broadstone Net Lease during the 4th quarter worth $513,000. DecisionMap Wealth Management LLC purchased a new position in shares of Broadstone Net Lease during the fourth quarter worth about $1,296,000. Swiss National Bank increased its position in shares of Broadstone Net Lease by 0.5% during the fourth quarter. Swiss National Bank now owns 370,800 shares of the company’s stock worth $5,881,000 after purchasing an additional 1,700 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Broadstone Net Lease by 139.3% in 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 last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Broadstone Net Lease by 44.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 97,960 shares of the company’s stock valued at $1,554,000 after purchasing an additional 30,309 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. JMP Securities raised 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 report on Tuesday, December 17th. BMO Capital Markets set a $20.00 target price on shares of Broadstone Net Lease and gave the company an “outperform” rating in a report on Monday, March 24th. 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 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 given a strong buy rating to the company. According to data from MarketBeat.com, Broadstone Net Lease has a consensus rating of “Hold” and a consensus target price of $18.83.

Broadstone Net Lease Price Performance

Shares of NYSE BNL opened at $16.97 on Friday. The stock has a fifty day moving average price of $16.31 and a 200 day moving average price of $16.99. Broadstone Net Lease, Inc. has a 1-year low of $14.21 and a 1-year high of $19.15. The company has a market cap of $3.20 billion, a PE ratio of 19.50 and a beta of 1.09.

Broadstone Net Lease (NYSE:BNL) last released its earnings results on Wednesday, February 19th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.20 by $0.16. The company had revenue of $112.13 million during the quarter, compared to analysts’ expectations of $109.80 million. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. 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 firm also recently disclosed 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. 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 dividend payout ratio is presently 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.