Cbre Investment Management Listed Real Assets LLC Has $10.35 Million Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Cbre Investment Management Listed Real Assets LLC cut its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 74.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 652,710 shares of the company’s stock after selling 1,865,759 shares during the period. Cbre Investment Management Listed Real Assets LLC owned about 0.35% of Broadstone Net Lease worth $10,352,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Assetmark Inc. increased its holdings in Broadstone Net Lease by 345.1% in the fourth quarter. Assetmark Inc. now owns 4,464 shares of the company’s stock valued at $71,000 after purchasing an additional 3,461 shares during the period. US Bancorp DE boosted its position in Broadstone Net Lease by 636.6% during the third quarter. US Bancorp DE now owns 3,941 shares of the company’s stock valued at $75,000 after acquiring an additional 3,406 shares during the last quarter. Blue Trust Inc. boosted its position in Broadstone Net Lease by 23.7% during the fourth quarter. Blue Trust Inc. now owns 4,827 shares of the company’s stock valued at $77,000 after acquiring an additional 925 shares during the last quarter. KBC Group NV boosted its position in Broadstone Net Lease by 29.4% during the third quarter. KBC Group NV now owns 6,220 shares of the company’s stock valued at $118,000 after acquiring an additional 1,413 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Broadstone Net Lease by 35.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,314 shares of the company’s stock valued at $138,000 after acquiring an additional 1,908 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Broadstone Net Lease Stock Performance

Shares of NYSE BNL opened at $16.77 on Wednesday. Broadstone Net Lease, Inc. has a fifty-two week low of $14.20 and a fifty-two week high of $19.15. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 19.27 and a beta of 1.11. The firm’s 50-day simple moving average is $15.85 and its 200 day simple moving average is $17.13.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share 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 business had revenue of $112.13 million for the quarter, compared to analysts’ expectations of $109.80 million. On average, sell-side analysts predict that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.29 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.16 annualized dividend and a yield of 6.92%. Broadstone Net Lease’s dividend payout ratio (DPR) is 133.33%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BNL. 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. UBS Group began coverage on shares of Broadstone Net Lease in a research report on Thursday, November 14th. They set a “neutral” rating and a $18.00 price target on the stock. Finally, JMP Securities raised shares of 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Broadstone Net Lease has an average rating of “Hold” and a consensus target price of $18.60.

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.