Cwm LLC Boosts Stake in Broadstone Net Lease, Inc. $BNL

Cwm LLC lifted its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 885.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,773 shares of the company’s stock after buying an additional 6,984 shares during the quarter. Cwm LLC’s holdings in Broadstone Net Lease were worth $125,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Jane Street Group LLC grew its stake in shares of Broadstone Net Lease by 292.3% in the first quarter. Jane Street Group LLC now owns 553,738 shares of the company’s stock valued at $9,436,000 after buying an additional 412,604 shares in the last quarter. LPL Financial LLC lifted its holdings in Broadstone Net Lease by 17.1% during the 1st quarter. LPL Financial LLC now owns 131,654 shares of the company’s stock worth $2,243,000 after buying an additional 19,190 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Broadstone Net Lease by 20.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 543,987 shares of the company’s stock worth $9,270,000 after buying an additional 92,909 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Broadstone Net Lease by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 27,711,994 shares of the company’s stock worth $472,212,000 after buying an additional 266,900 shares during the last quarter. Finally, KBC Group NV lifted its holdings in Broadstone Net Lease by 15.1% during the 1st quarter. KBC Group NV now owns 9,094 shares of the company’s stock worth $155,000 after buying an additional 1,193 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Broadstone Net Lease Trading Up 1.0%

Shares of NYSE BNL opened at $17.94 on Friday. Broadstone Net Lease, Inc. has a 12-month low of $13.96 and a 12-month high of $18.87. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 38.16 and a beta of 1.00. The stock’s 50 day simple moving average is $18.42 and its 200 day simple moving average is $16.96.

Broadstone Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 6.5%. The ex-dividend date is Wednesday, December 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 246.81%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BNL. The Goldman Sachs Group raised Broadstone Net Lease from a “sell” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Thursday, August 21st. Cantor Fitzgerald assumed coverage on Broadstone Net Lease in a report on Wednesday, October 1st. They set an “overweight” rating and a $21.00 target price on the stock. Wolfe Research raised Broadstone Net Lease from a “peer perform” rating to an “outperform” rating and set a $19.00 price target on the stock in a report on Monday, July 28th. JMP Securities reissued a “market outperform” rating and issued a $21.00 price target on shares of Broadstone Net Lease in a report on Monday, September 29th. Finally, Wall Street Zen downgraded Broadstone Net Lease from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $19.89.

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.