Metis Global Partners LLC Boosts Stock Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Metis Global Partners LLC raised its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 11.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 21,621 shares of the company’s stock after acquiring an additional 2,208 shares during the period. Metis Global Partners LLC’s holdings in Broadstone Net Lease were worth $343,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Natixis Advisors LLC boosted its position in Broadstone Net Lease by 63.2% during the third quarter. Natixis Advisors LLC now owns 114,272 shares of the company’s stock valued at $2,165,000 after buying an additional 44,264 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Broadstone Net Lease by 30.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 466,782 shares of the company’s stock valued at $7,403,000 after acquiring an additional 108,907 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Broadstone Net Lease by 79.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 44,955 shares of the company’s stock valued at $705,000 after acquiring an additional 19,839 shares during the last quarter. Meritage Portfolio Management bought a new position in shares of Broadstone Net Lease during the third quarter valued at about $5,610,000. Finally, Intech Investment Management LLC bought a new position in shares of Broadstone Net Lease during the third quarter valued at about $633,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on BNL shares. JMP Securities raised shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research note on Tuesday, December 17th. Citizens Jmp upgraded shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Finally, UBS Group assumed coverage on shares of Broadstone Net Lease in a report on Thursday, November 14th. They issued a “neutral” rating and a $18.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Broadstone Net Lease currently has a consensus rating of “Hold” and an average price target of $18.60.

Broadstone Net Lease Stock Performance

BNL stock opened at $16.86 on Thursday. The firm has a 50 day moving average price of $15.85 and a 200-day moving average price of $17.13. Broadstone Net Lease, Inc. has a 52-week low of $14.20 and a 52-week high of $19.15. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of 19.37 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 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $112.13 million during the quarter, compared to analyst estimates of $109.80 million. As a group, sell-side 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 6.88%. The ex-dividend date of this dividend is Monday, March 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 133.33%.

Broadstone Net Lease 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.