Hsbc Holdings PLC Cuts Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Hsbc Holdings PLC lowered its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 8.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 839,101 shares of the company's stock after selling 79,866 shares during the quarter. Hsbc Holdings PLC owned 0.45% of Broadstone Net Lease worth $13,307,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in BNL. Federated Hermes Inc. lifted its holdings in shares of Broadstone Net Lease by 73,833.3% in 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 last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Broadstone Net Lease by 139.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company's stock worth $43,000 after purchasing an additional 1,592 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Broadstone Net Lease by 192.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,914 shares of the company's stock valued at $46,000 after purchasing an additional 1,918 shares during the last quarter. Assetmark Inc. increased its position in shares of Broadstone Net Lease by 345.1% during the 4th quarter. Assetmark Inc. now owns 4,464 shares of the company's stock valued at $71,000 after purchasing an additional 3,461 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in Broadstone Net Lease by 23.7% in the fourth quarter. Blue Trust Inc. now owns 4,827 shares of the company's stock worth $77,000 after buying an additional 925 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on BNL. BMO Capital Markets set a $20.00 price objective on shares of Broadstone Net Lease and gave the company an "outperform" rating in a research report on Monday, March 24th. JMP Securities reissued a "market outperform" rating and issued a $21.00 price objective on shares of Broadstone Net Lease in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $18.83.

Broadstone Net Lease Stock Up 2.0 %

BNL traded up $0.31 on Friday, reaching $16.17. 1,401,593 shares of the company traded hands, compared to its average volume of 1,172,339. The company has a market cap of $3.05 billion, a P/E ratio of 18.59 and a beta of 1.03. The firm has a fifty day simple moving average of $16.38 and a two-hundred day simple moving average of $16.51. Broadstone Net Lease, Inc. has a one year low of $13.96 and a one year 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 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%. On average, equities analysts forecast that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current year.

Broadstone Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 7.17%. The ex-dividend date is Monday, June 30th. Broadstone Net Lease's dividend payout ratio (DPR) is 133.33%.

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.