JPMorgan Chase & Co. lifted its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 16.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,129,196 shares of the company's stock after purchasing an additional 294,783 shares during the quarter. JPMorgan Chase & Co. owned 1.13% of Broadstone Net Lease worth $33,769,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in BNL. State of Alaska Department of Revenue increased its holdings in Broadstone Net Lease by 1.0% in the fourth quarter. State of Alaska Department of Revenue now owns 90,318 shares of the company's stock valued at $1,432,000 after buying an additional 882 shares in the last quarter. Corient Private Wealth LLC increased its stake in shares of Broadstone Net Lease by 2.2% in the 4th quarter. Corient Private Wealth LLC now owns 41,892 shares of the company's stock valued at $664,000 after purchasing an additional 907 shares in the last quarter. Blue Trust Inc. raised its holdings in Broadstone Net Lease by 23.7% in the 4th quarter. Blue Trust Inc. now owns 4,827 shares of the company's stock worth $77,000 after purchasing an additional 925 shares during the period. Stifel Financial Corp boosted its position in Broadstone Net Lease by 6.5% during the third quarter. Stifel Financial Corp now owns 15,470 shares of the company's stock worth $293,000 after purchasing an additional 939 shares in the last quarter. Finally, Evermay Wealth Management LLC grew its holdings in Broadstone Net Lease by 2.0% in the fourth quarter. Evermay Wealth Management LLC now owns 50,155 shares of the company's stock valued at $798,000 after purchasing an additional 969 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.
Broadstone Net Lease Trading Up 1.0 %
BNL traded up $0.15 on Friday, hitting $15.05. 1,256,906 shares of the company's stock were exchanged, compared to its average volume of 1,162,714. Broadstone Net Lease, Inc. has a fifty-two week low of $13.96 and a fifty-two week high of $19.15. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 17.29 and a beta of 1.03. The firm has a 50-day moving average price of $16.29 and a 200-day moving average price of $16.76.
Broadstone Net Lease (NYSE:BNL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.16. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. The firm had revenue of $112.13 million for the quarter, compared to analyst estimates of $109.80 million. On average, equities analysts predict that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.
Broadstone Net Lease Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.29 per share. The ex-dividend date is Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a yield of 7.71%. Broadstone Net Lease's payout ratio is 133.33%.
Analyst Ratings Changes
A number of research analysts have recently issued reports on BNL shares. BMO Capital Markets set a $20.00 target price on Broadstone Net Lease and gave the company an "outperform" rating in a research report on Monday, March 24th. JMP Securities raised shares of 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. Finally, Citizens Jmp raised shares of Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Broadstone Net Lease currently has a consensus rating of "Moderate Buy" and an average target price of $18.83.
View Our Latest Report on Broadstone Net Lease
About Broadstone Net Lease
(
Free Report)
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.
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