Broadstone Net Lease, Inc. (NYSE:BNL) Holdings Lifted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 654.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 451,078 shares of the company’s stock after acquiring an additional 391,320 shares during the quarter. Envestnet Asset Management Inc. owned about 0.24% of Broadstone Net Lease worth $7,154,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of BNL. Dynamic Technology Lab Private Ltd acquired a new stake in Broadstone Net Lease during the fourth quarter valued at approximately $166,000. Wells Fargo & Company MN lifted its position in shares of Broadstone Net Lease by 10.4% during the 4th quarter. Wells Fargo & Company MN now owns 220,889 shares of the company’s stock valued at $3,503,000 after acquiring an additional 20,814 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new stake in shares of Broadstone Net Lease during the 4th quarter worth $1,192,000. Landscape Capital Management L.L.C. grew its holdings in shares of Broadstone Net Lease by 107.2% in the 4th quarter. Landscape Capital Management L.L.C. now owns 38,312 shares of the company’s stock worth $608,000 after acquiring an additional 19,822 shares during the last quarter. Finally, Centersquare Investment Management LLC grew its holdings in shares of Broadstone Net Lease by 7.1% in the 4th quarter. Centersquare Investment Management LLC now owns 4,011,419 shares of the company’s stock worth $63,621,000 after acquiring an additional 265,428 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets set a $20.00 price target on Broadstone Net Lease and gave the company 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.83.

Broadstone Net Lease Stock Up 0.9 %

Shares of Broadstone Net Lease stock opened at $16.09 on Monday. Broadstone Net Lease, Inc. has a 12 month low of $13.96 and a 12 month high of $19.15. The stock has a market cap of $3.04 billion, a PE ratio of 18.49 and a beta of 1.03. The business has a fifty day simple moving average of $16.32 and a 200-day simple moving average of $16.65.

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

Broadstone Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 7.21%. The ex-dividend date of this dividend was Monday, March 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 133.33%.

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.