Raymond James Financial Inc. Purchases New Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Raymond James Financial Inc. purchased a new stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 302,077 shares of the company's stock, valued at approximately $4,791,000. Raymond James Financial Inc. owned 0.16% of Broadstone Net Lease as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in BNL. Greenland Capital Management LP purchased a new position in shares of Broadstone Net Lease in the 4th quarter valued at $281,000. Renaissance Technologies LLC raised its position in Broadstone Net Lease by 404.8% during the 4th quarter. Renaissance Technologies LLC now owns 244,300 shares of the company's stock worth $3,875,000 after buying an additional 195,900 shares during the last quarter. FIL Ltd lifted its holdings in shares of Broadstone Net Lease by 46.1% in the 4th quarter. FIL Ltd now owns 6,663 shares of the company's stock valued at $106,000 after buying an additional 2,102 shares during the period. Invesco Ltd. lifted its stake in shares of Broadstone Net Lease by 7.1% in the 4th quarter. Invesco Ltd. now owns 1,035,938 shares of the company's stock valued at $16,430,000 after purchasing an additional 69,041 shares during the period. Finally, Bank of Montreal Can boosted its position in Broadstone Net Lease by 603.9% during the fourth quarter. Bank of Montreal Can now owns 1,891,881 shares of the company's stock worth $30,005,000 after purchasing an additional 1,623,098 shares in the last quarter. Institutional investors own 89.07% of the company's stock.

Broadstone Net Lease Stock Down 1.8 %

NYSE:BNL traded down $0.30 during trading hours on Thursday, reaching $15.88. 586,868 shares of the stock were exchanged, compared to its average volume of 1,170,958. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 18.30 and a beta of 1.03. Broadstone Net Lease, Inc. has a twelve month low of $13.96 and a twelve month high of $19.15. The business has a 50-day moving average of $16.39 and a two-hundred day moving average of $16.56.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.16. The company had revenue of $112.13 million for the quarter, compared to analyst estimates of $109.80 million. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. On average, research analysts forecast that Broadstone Net Lease, Inc. will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.29 dividend. The ex-dividend date was Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a yield of 7.30%. Broadstone Net Lease's dividend payout ratio is currently 133.33%.

Wall Street Analyst Weigh In

BNL has been the topic of a number of research reports. JMP Securities reaffirmed a "market outperform" rating and issued a $21.00 price target on shares of Broadstone Net Lease in a research note on Tuesday. BMO Capital Markets set a $20.00 price objective on shares of Broadstone Net Lease and gave the company an "outperform" rating in a report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Broadstone Net Lease presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.83.

About Broadstone Net Lease

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.