Cibc World Markets Corp Acquires Shares of 17,654 Broadstone Net Lease, Inc. (NYSE:BNL)

Cibc World Markets Corp acquired a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 17,654 shares of the company’s stock, valued at approximately $280,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in BNL. State of Alaska Department of Revenue grew its stake in Broadstone Net Lease by 1.0% during the 4th quarter. State of Alaska Department of Revenue now owns 90,318 shares of the company’s stock worth $1,432,000 after buying an additional 882 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of Broadstone Net Lease by 2.2% in the third quarter. Cerity Partners LLC now owns 40,480 shares of the company’s stock valued at $767,000 after acquiring an additional 886 shares during the period. Corient Private Wealth LLC grew its position in shares of Broadstone Net Lease by 2.2% during the fourth quarter. Corient Private Wealth LLC now owns 41,892 shares of the company’s stock worth $664,000 after acquiring an additional 907 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Broadstone Net Lease by 23.7% in the 4th quarter. Blue Trust Inc. now owns 4,827 shares of the company’s stock valued at $77,000 after acquiring an additional 925 shares during the period. Finally, Stifel Financial Corp raised its position in Broadstone Net Lease by 6.5% in the 3rd quarter. Stifel Financial Corp now owns 15,470 shares of the company’s stock valued at $293,000 after purchasing an additional 939 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BNL. Citizens Jmp upgraded shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. JMP Securities upgraded Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Broadstone Net Lease currently has a consensus rating of “Hold” and an average target price of $18.60.

Broadstone Net Lease Stock Down 2.2 %

Shares of Broadstone Net Lease stock opened at $16.82 on Wednesday. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 19.33 and a beta of 1.09. Broadstone Net Lease, Inc. has a 52-week low of $14.21 and a 52-week high of $19.15. The company’s 50-day simple moving average is $16.23 and its 200-day simple moving average is $17.01.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.16. The company had revenue of $112.13 million for the quarter, compared to analyst estimates of $109.80 million. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. Equities research analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 6.90%. The ex-dividend date of this dividend is Monday, March 31st. Broadstone Net Lease’s payout ratio is 133.33%.

Broadstone Net Lease 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.