Broadstone Net Lease, Inc. (NYSE:BNL) Stake Boosted by Sterling Capital Management LLC

Sterling Capital Management LLC raised its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 807.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,944 shares of the company’s stock after buying an additional 5,289 shares during the quarter. Sterling Capital Management LLC’s holdings in Broadstone Net Lease were worth $94,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BNL. Raymond James Financial Inc. acquired a new stake in shares of Broadstone Net Lease during the fourth quarter valued at approximately $4,791,000. Greenland Capital Management LP acquired a new stake in Broadstone Net Lease during the 4th quarter valued at $281,000. Renaissance Technologies LLC lifted its holdings in shares of Broadstone Net Lease by 404.8% in the fourth quarter. Renaissance Technologies LLC now owns 244,300 shares of the company’s stock valued at $3,875,000 after purchasing an additional 195,900 shares in the last quarter. FIL Ltd boosted its position in shares of Broadstone Net Lease by 46.1% in the fourth quarter. FIL Ltd now owns 6,663 shares of the company’s stock worth $106,000 after buying an additional 2,102 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Broadstone Net Lease by 7.1% during the fourth quarter. Invesco Ltd. now owns 1,035,938 shares of the company’s stock valued at $16,430,000 after buying an additional 69,041 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Broadstone Net Lease Trading Up 1.3 %

BNL opened at $16.15 on Wednesday. Broadstone Net Lease, Inc. has a 1 year low of $13.96 and a 1 year high of $19.15. The stock has a fifty day moving average price of $16.35 and a 200 day moving average price of $16.63. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 18.57 and a beta of 1.03.

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

Broadstone Net Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 7.18%. The ex-dividend date was Monday, March 31st. Broadstone Net Lease’s payout ratio is presently 133.33%.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets set a $20.00 price objective on Broadstone Net Lease and gave the stock an “outperform” rating in a research note on Monday, March 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Broadstone Net Lease currently has an average rating of “Moderate Buy” and an average target price of $18.83.

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.