Broadstone Net Lease, Inc. (NYSE:BNL) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 44.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,960 shares of the company’s stock after buying an additional 30,309 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.05% of Broadstone Net Lease worth $1,554,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BNL. Brookfield Corp ON acquired a new position in shares of Broadstone Net Lease during the third quarter valued at $18,444,000. Wellington Management Group LLP acquired a new position in shares of Broadstone Net Lease during the third quarter valued at $12,574,000. Systematic Financial Management LP increased its holdings in shares of Broadstone Net Lease by 298.1% during the third quarter. Systematic Financial Management LP now owns 747,706 shares of the company’s stock valued at $14,169,000 after purchasing an additional 559,906 shares during the period. Columbus Macro LLC acquired a new position in shares of Broadstone Net Lease during the fourth quarter valued at $6,269,000. Finally, Victory Capital Management Inc. increased its holdings in shares of Broadstone Net Lease by 35.5% during the third quarter. Victory Capital Management Inc. now owns 1,454,507 shares of the company’s stock valued at $27,563,000 after purchasing an additional 380,772 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on BNL shares. JMP Securities raised Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a report on Tuesday, December 17th. Citizens Jmp upgraded shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. One 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 issued a strong buy rating to the company. According to MarketBeat.com, Broadstone Net Lease has an average rating of “Hold” and a consensus target price of $18.60.

Broadstone Net Lease Price Performance

NYSE:BNL opened at $17.11 on Tuesday. Broadstone Net Lease, Inc. has a fifty-two week low of $14.21 and a fifty-two week high of $19.15. The stock’s 50-day moving average is $16.04 and its two-hundred day moving average is $17.06. The stock has a market cap of $3.23 billion, a PE ratio of 19.66 and a beta of 1.09.

Broadstone Net Lease (NYSE:BNL) last released its earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.16. The company had revenue of $112.13 million for 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 research analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.29 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.16 annualized dividend and a dividend yield of 6.78%. Broadstone Net Lease’s payout ratio is 133.33%.

Broadstone Net Lease Company 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.