Corient Private Wealth LLC Buys 907 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Corient Private Wealth LLC boosted its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 2.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 41,892 shares of the company’s stock after buying an additional 907 shares during the quarter. Corient Private Wealth LLC’s holdings in Broadstone Net Lease were worth $664,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. State of Alaska Department of Revenue raised its stake in shares of 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 acquiring an additional 882 shares during the period. Cerity Partners LLC grew its holdings in Broadstone Net Lease by 2.2% during the 3rd quarter. Cerity Partners LLC now owns 40,480 shares of the company’s stock valued at $767,000 after purchasing an additional 886 shares during the last quarter. Blue Trust Inc. raised its position 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 lifted its stake in Broadstone Net Lease by 6.5% in 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 during the last quarter. Finally, Evermay Wealth Management LLC lifted its stake 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 worth $798,000 after purchasing an additional 969 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BNL. BMO Capital Markets set a $20.00 price target on Broadstone Net Lease and gave the stock an “outperform” rating in a report on Monday. Citizens Jmp upgraded Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. Finally, JMP Securities upgraded Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $18.83.

Broadstone Net Lease Stock Down 0.5 %

Shares of NYSE BNL opened at $16.97 on Friday. Broadstone Net Lease, Inc. has a twelve month low of $14.21 and a twelve month high of $19.15. The firm has a market cap of $3.20 billion, a PE ratio of 19.50 and a beta of 1.09. The business has a fifty day simple moving average of $16.31 and a two-hundred day simple moving average of $17.00.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings data 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. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. The firm had revenue of $112.13 million during the quarter, compared to the consensus estimate of $109.80 million. On average, research analysts expect 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.84%. Broadstone Net Lease’s dividend payout ratio is presently 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.