Broadstone Net Lease, Inc. (NYSE:BNL) Shares Purchased by Cetera Trust Company N.A

Cetera Trust Company N.A raised its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 21.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,350 shares of the company’s stock after acquiring an additional 2,550 shares during the quarter. Cetera Trust Company N.A’s holdings in Broadstone Net Lease were worth $228,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BNL. Millennium Management LLC boosted its holdings in shares of Broadstone Net Lease by 709.4% during the second quarter. Millennium Management LLC now owns 3,177,459 shares of the company’s stock worth $50,426,000 after purchasing an additional 2,784,878 shares during the last quarter. Brookfield Corp ON acquired a new stake in Broadstone Net Lease in the 3rd quarter worth about $18,444,000. Wellington Management Group LLP purchased a new stake in Broadstone Net Lease in the 3rd quarter valued at about $12,574,000. Systematic Financial Management LP increased its stake in shares of Broadstone Net Lease by 298.1% during the 3rd quarter. Systematic Financial Management LP now owns 747,706 shares of the company’s stock valued at $14,169,000 after acquiring an additional 559,906 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Broadstone Net Lease by 35.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,454,507 shares of the company’s stock worth $27,563,000 after acquiring an additional 380,772 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Broadstone Net Lease Trading Up 0.5 %

Shares of BNL stock opened at $15.82 on Wednesday. The company has a market cap of $2.98 billion, a PE ratio of 20.96 and a beta of 1.11. The company’s fifty day simple moving average is $16.48 and its 200-day simple moving average is $17.40. Broadstone Net Lease, Inc. has a 52 week low of $14.20 and a 52 week high of $19.15.

Broadstone Net Lease (NYSE:BNL) last issued its earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.15). The company had revenue of $108.40 million during the quarter, compared to analysts’ expectations of $106.47 million. Broadstone Net Lease had a return on equity of 4.47% and a net margin of 33.56%. During the same period in the previous year, the company earned $0.36 EPS. Equities research analysts expect that Broadstone Net Lease, Inc. will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 7.33%. The ex-dividend date was Tuesday, December 31st. Broadstone Net Lease’s payout ratio is 152.63%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BNL shares. UBS Group started coverage on shares of Broadstone Net Lease in a report on Thursday, November 14th. They issued a “neutral” rating and a $18.00 target price for the company. 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, JMP Securities raised Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Broadstone Net Lease currently has an average rating of “Hold” and a consensus target price of $18.60.

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.