Obermeyer Wealth Partners Sells 1,086 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Obermeyer Wealth Partners trimmed its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 4.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,314 shares of the company’s stock after selling 1,086 shares during the quarter. Obermeyer Wealth Partners’ holdings in Broadstone Net Lease were worth $370,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BNL. Principal Financial Group Inc. boosted its holdings in shares of Broadstone Net Lease by 1.6% during the 4th quarter. Principal Financial Group Inc. now owns 14,276,250 shares of the company’s stock valued at $226,423,000 after purchasing an additional 227,833 shares during the last quarter. Geode Capital Management LLC boosted its stake in Broadstone Net Lease by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 4,860,444 shares of the company’s stock valued at $77,103,000 after buying an additional 15,501 shares during the last quarter. Centersquare Investment Management LLC boosted its stake in Broadstone Net Lease by 7.1% during the fourth quarter. Centersquare Investment Management LLC now owns 4,011,419 shares of the company’s stock valued at $63,621,000 after buying an additional 265,428 shares during the last quarter. Aew Capital Management L P boosted its stake in Broadstone Net Lease by 2.3% during the fourth quarter. Aew Capital Management L P now owns 3,135,949 shares of the company’s stock valued at $49,736,000 after buying an additional 69,690 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Broadstone Net Lease by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,077,513 shares of the company’s stock valued at $48,809,000 after acquiring an additional 71,709 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Price Performance

Shares of NYSE BNL opened at $15.98 on Wednesday. Broadstone Net Lease, Inc. has a 1 year low of $13.96 and a 1 year high of $19.15. The company has a market cap of $3.02 billion, a P/E ratio of 18.37 and a beta of 1.04. The firm has a 50-day simple moving average of $16.29 and a two-hundred day simple moving average of $16.40.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.16. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. The firm had revenue of $112.13 million during the quarter, compared to analyst estimates of $109.80 million. As a group, equities research analysts expect that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.29 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.16 annualized dividend and a yield of 7.26%. Broadstone Net Lease’s dividend payout ratio (DPR) is 190.16%.

Analysts Set New Price Targets

A number of research analysts have recently commented on BNL shares. BMO Capital Markets set a $20.00 target price on Broadstone Net Lease and gave the company an “outperform” rating in a research report on Monday, March 24th. Truist Financial increased their price objective on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the company a “hold” rating in a research report on Monday, May 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $21.00 price target on shares of Broadstone Net Lease in a report on Monday, May 5th. Finally, UBS Group lowered their price target on shares of Broadstone Net Lease from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $18.67.

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.