United Capital Financial Advisors LLC Lowers Position in Broadstone Net Lease, Inc. (NYSE:BNL)

United Capital Financial Advisors LLC reduced its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 15.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 756,436 shares of the company’s stock after selling 137,235 shares during the quarter. United Capital Financial Advisors LLC’s holdings in Broadstone Net Lease were worth $11,997,000 at the end of the most recent reporting period.

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

Broadstone Net Lease Trading Up 0.9 %

Shares of NYSE:BNL opened at $15.77 on Wednesday. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 18.12 and a beta of 1.03. Broadstone Net Lease, Inc. has a 12 month low of $13.96 and a 12 month high of $19.15. The firm’s 50-day moving average is $16.29 and its 200 day moving average is $16.72.

Broadstone Net Lease (NYSE:BNL) last released its earnings results on Wednesday, February 19th. The company reported $0.36 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $109.80 million. As a group, equities analysts forecast that Broadstone Net Lease, Inc. will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.36%. The ex-dividend date of this dividend was Monday, March 31st. Broadstone Net Lease’s dividend payout ratio is currently 133.33%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BNL. JMP Securities upgraded shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Tuesday, December 17th. Citizens Jmp raised Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. Finally, BMO Capital Markets set a $20.00 price objective on Broadstone Net Lease and gave the company an “outperform” rating in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.83.

Broadstone Net Lease Company 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.