Perpetual Ltd Has $1.40 Million Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Perpetual Ltd grew its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 5.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 88,319 shares of the company’s stock after purchasing an additional 4,830 shares during the quarter. Perpetual Ltd’s holdings in Broadstone Net Lease were worth $1,401,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Prairiewood Capital LLC boosted its holdings in Broadstone Net Lease by 0.3% in the 4th quarter. Prairiewood Capital LLC now owns 317,344 shares of the company’s stock valued at $5,033,000 after purchasing an additional 994 shares during the period. Tallon Kerry Patrick bought a new stake in shares of Broadstone Net Lease in the fourth quarter valued at about $4,669,000. Wealth Enhancement Advisory Services LLC grew its position in Broadstone Net Lease by 30.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 466,782 shares of the company’s stock worth $7,403,000 after buying an additional 108,907 shares in the last quarter. Canandaigua National Trust Co of Florida bought a new position in Broadstone Net Lease during the fourth quarter valued at about $1,143,000. Finally, JPMorgan Chase & Co. raised its holdings in Broadstone Net Lease by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,834,413 shares of the company’s stock valued at $34,762,000 after acquiring an additional 84,509 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Ratings Changes

BNL has been the topic of several recent research reports. JMP Securities raised Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a report on Tuesday, December 17th. 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. Finally, Citizens Jmp raised shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $18.60.

Broadstone Net Lease Stock Performance

BNL opened at $16.03 on Wednesday. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 21.09 and a beta of 1.11. Broadstone Net Lease, Inc. has a twelve month low of $14.20 and a twelve month high of $19.15. The firm’s 50-day simple moving average is $16.48 and its 200-day simple moving average is $17.40.

Broadstone Net Lease (NYSE:BNL) last posted its earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The firm had revenue of $108.40 million during the quarter, compared to the consensus estimate of $106.47 million. Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.47%. During the same quarter last year, the firm posted $0.36 EPS. As a group, sell-side analysts anticipate that Broadstone Net Lease, Inc. will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.29 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a yield of 7.24%. Broadstone Net Lease’s payout ratio is 152.63%.

Broadstone Net Lease 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.