Dean Investment Associates LLC Has $1.37 Million Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Dean Investment Associates LLC trimmed its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 60.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 86,325 shares of the company’s stock after selling 132,297 shares during the period. Dean Investment Associates LLC’s holdings in Broadstone Net Lease were worth $1,369,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Broadstone Net Lease in the fourth quarter valued at approximately $36,170,000. Bank of Montreal Can lifted its stake in shares of Broadstone Net Lease by 603.9% in the 4th quarter. Bank of Montreal Can now owns 1,891,881 shares of the company’s stock valued at $30,005,000 after purchasing an additional 1,623,098 shares during the last quarter. Columbus Macro LLC acquired a new stake in shares of Broadstone Net Lease in the 4th quarter valued at $6,269,000. Envestnet Asset Management Inc. boosted its holdings in Broadstone Net Lease by 654.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 451,078 shares of the company’s stock worth $7,154,000 after purchasing an additional 391,320 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in Broadstone Net Lease by 220.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 538,743 shares of the company’s stock worth $8,545,000 after buying an additional 370,598 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets set a $20.00 price target on Broadstone Net Lease and gave the stock an “outperform” rating in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.83.

Broadstone Net Lease Trading Up 0.9 %

NYSE:BNL opened at $16.09 on Friday. The firm has a market capitalization of $3.04 billion, a PE ratio of 18.49 and a beta of 1.03. Broadstone Net Lease, Inc. has a 1 year low of $13.96 and a 1 year high of $19.15. The firm’s fifty day simple moving average is $16.31 and its 200 day simple moving average is $16.69.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. As a group, analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.21%. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 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.