D.A. Davidson & CO. Acquires 1,932 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

D.A. Davidson & CO. raised its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,646 shares of the company’s stock after purchasing an additional 1,932 shares during the quarter. D.A. Davidson & CO.’s holdings in Broadstone Net Lease were worth $1,247,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Principal Financial Group Inc. increased its position in shares of Broadstone Net Lease by 1.6% during the 4th quarter. Principal Financial Group Inc. now owns 14,276,250 shares of the company’s stock worth $226,423,000 after purchasing an additional 227,833 shares in the last quarter. Geode Capital Management LLC grew its stake in Broadstone Net Lease by 1.3% during 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. JPMorgan Chase & Co. grew its stake in Broadstone Net Lease by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 1,834,413 shares of the company’s stock worth $34,762,000 after buying an additional 84,509 shares during the last quarter. 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 worth $27,563,000 after buying an additional 380,772 shares in the last quarter. Finally, Brookfield Corp ON bought a new position in shares of Broadstone Net Lease in the third quarter valued at approximately $18,444,000. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on BNL. Citizens Jmp upgraded Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. JMP Securities upgraded Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Tuesday, December 17th. Finally, UBS Group started coverage on Broadstone Net Lease in a report on Thursday, November 14th. They issued a “neutral” rating and a $18.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.60.

Broadstone Net Lease Stock Performance

NYSE BNL opened at $15.96 on Monday. The stock has a market capitalization of $3.01 billion, a P/E ratio of 18.34 and a beta of 1.11. Broadstone Net Lease, Inc. has a 52 week low of $14.20 and a 52 week high of $19.15. The stock has a fifty day moving average of $15.80 and a 200-day moving average of $17.17.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.16. The business 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%. Equities research analysts forecast that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Announces Dividend

The firm 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 dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.27%. The ex-dividend date of this dividend is Monday, March 31st. Broadstone Net Lease’s dividend payout ratio (DPR) 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.