Broadstone Net Lease, Inc. (NYSE:BNL) Stock Position Boosted by Rhumbline Advisers

Rhumbline Advisers increased its position in Broadstone Net Lease, Inc. (NYSE:BNL) by 0.9% in the fourth quarter, HoldingsChannel reports. The firm owned 339,446 shares of the company’s stock after acquiring an additional 3,164 shares during the period. Rhumbline Advisers’ holdings in Broadstone Net Lease were worth $5,384,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BNL. Blue Trust Inc. grew its stake in shares of Broadstone Net Lease by 156.5% in the 3rd quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock valued at $74,000 after purchasing an additional 2,381 shares during the period. US Bancorp DE lifted its holdings in shares of Broadstone Net Lease by 636.6% in the third quarter. US Bancorp DE now owns 3,941 shares of the company’s stock valued at $75,000 after purchasing an additional 3,406 shares in the last quarter. KBC Group NV grew its position in Broadstone Net Lease by 29.4% in the third quarter. KBC Group NV now owns 6,220 shares of the company’s stock valued at $118,000 after purchasing an additional 1,413 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Broadstone Net Lease by 35.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,314 shares of the company’s stock valued at $138,000 after purchasing an additional 1,908 shares in the last quarter. Finally, FMR LLC raised its position in Broadstone Net Lease by 84.0% during 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 in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Stock Performance

Shares of BNL opened at $16.81 on Friday. Broadstone Net Lease, Inc. has a fifty-two week low of $14.20 and a fifty-two week high of $19.15. The firm’s 50-day simple moving average is $15.81 and its two-hundred day simple moving average is $17.15. The stock has a market cap of $3.17 billion, a PE ratio of 19.32 and a beta of 1.11.

Broadstone Net Lease (NYSE:BNL) 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. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. The company had revenue of $112.13 million during the quarter, compared to analysts’ expectations of $109.80 million. Equities research analysts predict that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.

Broadstone Net Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 dividend yield of 6.90%. Broadstone Net Lease’s dividend payout ratio is currently 133.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BNL shares. Citizens Jmp raised Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. JMP Securities upgraded shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Tuesday, December 17th. Finally, UBS Group assumed coverage on Broadstone Net Lease in a research report on Thursday, November 14th. They set a “neutral” rating and a $18.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $18.60.

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.