Broadstone Net Lease, Inc. (NYSE:BNL) Shares Sold by New England Private Wealth Advisors LLC

New England Private Wealth Advisors LLC lowered its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 2.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,694,305 shares of the company’s stock after selling 38,673 shares during the quarter. Broadstone Net Lease accounts for approximately 4.3% of New England Private Wealth Advisors LLC’s portfolio, making the stock its 4th biggest position. New England Private Wealth Advisors LLC’s holdings in Broadstone Net Lease were worth $26,872,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Assetmark Inc. increased its stake in Broadstone Net Lease by 345.1% during the 4th quarter. Assetmark Inc. now owns 4,464 shares of the company’s stock valued at $71,000 after purchasing an additional 3,461 shares in the last quarter. US Bancorp DE grew its holdings in shares of Broadstone Net Lease by 636.6% during the third quarter. US Bancorp DE now owns 3,941 shares of the company’s stock valued at $75,000 after buying an additional 3,406 shares during the last quarter. Blue Trust Inc. increased its position in shares of Broadstone Net Lease by 23.7% during the fourth quarter. Blue Trust Inc. now owns 4,827 shares of the company’s stock worth $77,000 after acquiring an additional 925 shares in the last quarter. KBC Group NV raised its holdings in shares of Broadstone Net Lease by 29.4% in the 3rd quarter. KBC Group NV now owns 6,220 shares of the company’s stock worth $118,000 after acquiring an additional 1,413 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Broadstone Net Lease by 58.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,842 shares of the company’s stock valued at $172,000 after acquiring an additional 4,017 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Broadstone Net Lease Stock Performance

NYSE BNL opened at $16.94 on Wednesday. The company has a market capitalization of $3.20 billion, a PE ratio of 19.47 and a beta of 1.09. Broadstone Net Lease, Inc. has a 52-week low of $14.20 and a 52-week high of $19.15. The company has a 50-day simple moving average of $15.95 and a 200 day simple moving average of $17.10.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.16. The company had revenue of $112.13 million during the quarter, compared to analyst estimates of $109.80 million. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. As a group, analysts forecast that Broadstone Net Lease, Inc. will post 1.43 EPS 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 6.85%. The ex-dividend date of this dividend is Monday, March 31st. Broadstone Net Lease’s payout ratio is currently 133.33%.

Wall Street Analysts Forecast Growth

BNL has been the topic of a number of recent research reports. UBS Group initiated coverage on Broadstone Net Lease in a report on Thursday, November 14th. They issued a “neutral” rating and a $18.00 target price on the stock. JMP Securities upgraded shares of 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. Finally, Citizens Jmp raised shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating 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, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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.