Quantbot Technologies LP Invests $886,000 in Broadstone Net Lease, Inc. (NYSE:BNL)

Quantbot Technologies LP purchased a new stake in Broadstone Net Lease, Inc. (NYSE:BNL) during the 4th quarter, Holdings Channel reports. The firm purchased 55,893 shares of the company’s stock, valued at approximately $886,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC increased its position in shares of Broadstone Net Lease by 30.4% in 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 increased its position in shares of Broadstone Net Lease by 79.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 44,955 shares of the company’s stock worth $705,000 after purchasing an additional 19,839 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Broadstone Net Lease by 15.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,820,961 shares of the company’s stock worth $28,880,000 after purchasing an additional 237,083 shares in the last quarter. JPL Wealth Management LLC bought a new stake in shares of Broadstone Net Lease during the 4th quarter worth approximately $513,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings 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 buying an additional 30,309 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. JMP Securities upgraded shares of 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. Citizens Jmp raised shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Finally, BMO Capital Markets set a $20.00 target price on shares of Broadstone Net Lease and gave the stock an “outperform” rating in a 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 issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $18.83.

Broadstone Net Lease Trading Up 2.1 %

Shares of BNL opened at $17.16 on Thursday. Broadstone Net Lease, Inc. has a 12 month low of $14.21 and a 12 month high of $19.15. The firm’s 50 day moving average is $16.26 and its 200-day moving average is $17.01. The stock has a market capitalization of $3.24 billion, a PE ratio of 19.72 and a beta of 1.09.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.16. The firm had revenue of $112.13 million for the quarter, compared to analyst estimates of $109.80 million. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. Equities 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. Investors of record on Monday, March 31st will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 6.76%. The ex-dividend date of this dividend is Monday, March 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 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.