United Capital Financial Advisors LLC Lowers Position in Broadstone Net Lease, Inc. (NYSE:BNL)

United Capital Financial Advisors LLC lowered its stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 15.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 756,436 shares of the company's stock after selling 137,235 shares during the period. United Capital Financial Advisors LLC owned 0.40% of Broadstone Net Lease worth $11,997,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Broadstone Net Lease by 84.0% in the third quarter. FMR LLC now owns 9,992 shares of the company's stock worth $189,000 after acquiring an additional 4,562 shares during the last quarter. Stifel Financial Corp boosted its stake in Broadstone Net Lease by 6.5% in the 3rd 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. XTX Topco Ltd purchased a new stake in Broadstone Net Lease during the 3rd quarter valued at about $348,000. Barclays PLC increased its stake in Broadstone Net Lease by 131.1% during the 3rd quarter. Barclays PLC now owns 318,142 shares of the company's stock valued at $6,028,000 after purchasing an additional 180,456 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Broadstone Net Lease by 1.3% in the third quarter. Geode Capital Management LLC now owns 4,844,943 shares of the company's stock worth $91,827,000 after buying an additional 62,515 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Broadstone Net Lease Trading Down 0.7 %

BNL stock traded down $0.12 on Monday, hitting $15.97. The company had a trading volume of 123,744 shares, compared to its average volume of 1,159,993. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 18.36 and a beta of 1.03. The stock's 50-day simple moving average is $16.32 and its 200 day simple moving average is $16.65. Broadstone Net Lease, Inc. has a 12-month low of $13.96 and a 12-month high of $19.15.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.16. The company 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%. Research 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 was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.29 per share. The ex-dividend date was Monday, March 31st. This represents a $1.16 annualized dividend and a yield of 7.26%. Broadstone Net Lease's dividend payout ratio (DPR) is 133.33%.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets set a $20.00 price target on shares of Broadstone Net Lease and gave the company an "outperform" rating in a research report on Monday, March 24th. One equities research 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 stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price 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.