Broadstone Net Lease, Inc. (NYSE:BNL) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC raised its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 103.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,297 shares of the company's stock after acquiring an additional 41,817 shares during the period. Cerity Partners LLC's holdings in Broadstone Net Lease were worth $1,309,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Federated Hermes Inc. boosted its holdings in Broadstone Net Lease by 73,833.3% during the 4th quarter. Federated Hermes Inc. now owns 2,218 shares of the company's stock valued at $35,000 after acquiring an additional 2,215 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Broadstone Net Lease by 139.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company's stock valued at $43,000 after purchasing an additional 1,592 shares in the last quarter. Assetmark Inc. increased its stake in Broadstone Net Lease by 345.1% during the 4th quarter. Assetmark Inc. now owns 4,464 shares of the company's stock worth $71,000 after buying an additional 3,461 shares during the period. Blue Trust Inc. lifted its holdings in Broadstone Net Lease by 23.7% during the 4th quarter. Blue Trust Inc. now owns 4,827 shares of the company's stock worth $77,000 after buying an additional 925 shares in the last quarter. Finally, KBC Group NV boosted its position in Broadstone Net Lease by 27.0% in the 4th quarter. KBC Group NV now owns 7,901 shares of the company's stock valued at $125,000 after buying an additional 1,681 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Broadstone Net Lease Stock Up 0.1 %

Broadstone Net Lease stock traded up $0.01 during midday trading on Wednesday, reaching $16.16. The company's stock had a trading volume of 134,999 shares, compared to its average volume of 1,314,230. The company has a market cap of $3.05 billion, a P/E ratio of 18.57 and a beta of 1.03. The business has a 50-day simple moving average of $16.35 and a 200-day simple moving average of $16.63. Broadstone Net Lease, Inc. has a fifty-two week low of $13.96 and a fifty-two week high of $19.15.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.16. The business had revenue of $112.13 million for the quarter, compared to analyst estimates 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, equities analysts forecast that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, BMO Capital Markets set a $20.00 price objective on Broadstone Net Lease and gave the company an "outperform" rating in a research note on Monday, March 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.83.

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.