Concurrent Investment Advisors LLC cut its holdings in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 20.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 165,925 shares of the company's stock after selling 42,029 shares during the period. Concurrent Investment Advisors LLC owned 0.09% of Broadstone Net Lease worth $2,632,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Evermay Wealth Management LLC increased its stake in shares of Broadstone Net Lease by 1.4% in the third quarter. Evermay Wealth Management LLC now owns 49,186 shares of the company's stock worth $937,000 after purchasing an additional 677 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Broadstone Net Lease by 1.0% in the fourth quarter. State of Alaska Department of Revenue now owns 90,318 shares of the company's stock worth $1,432,000 after purchasing an additional 882 shares in the last quarter. Cerity Partners LLC increased its stake in shares of Broadstone Net Lease by 2.2% in the third quarter. Cerity Partners LLC now owns 40,480 shares of the company's stock worth $767,000 after purchasing an additional 886 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Broadstone Net Lease by 23.7% in the fourth quarter. Blue Trust Inc. now owns 4,827 shares of the company's stock worth $77,000 after purchasing an additional 925 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in shares of Broadstone Net Lease by 6.5% in the third quarter. Stifel Financial Corp now owns 15,470 shares of the company's stock worth $293,000 after purchasing an additional 939 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.
BNL has been the subject of a number of analyst reports. JMP Securities raised shares of Broadstone Net Lease from a "market perform" rating to an "outperform" rating and set a $21.00 price objective for the company 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 note on Tuesday, December 17th. Finally, UBS Group initiated coverage on shares of Broadstone Net Lease in a research note on Thursday, November 14th. They issued a "neutral" rating and a $18.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Broadstone Net Lease has a consensus rating of "Hold" and a consensus target price of $18.60.
Check Out Our Latest Stock Report on Broadstone Net Lease
BNL traded down $0.08 during trading on Friday, hitting $15.96. 1,015,373 shares of the company traded hands, compared to its average volume of 1,108,207. The company has a market cap of $3.01 billion, a PE ratio of 18.34 and a beta of 1.11. The stock's 50-day simple moving average is $15.80 and its two-hundred day simple moving average is $17.17. Broadstone Net Lease, Inc. has a 1 year low of $14.20 and a 1 year high of $19.15.
Broadstone Net Lease (NYSE:BNL - Get Free Report) last posted its 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 company had revenue of $112.13 million during the quarter, compared to analysts' expectations of $109.80 million. Equities analysts expect that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.
The firm 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 of this dividend is Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.27%. Broadstone Net Lease's payout ratio is currently 133.33%.
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.
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