Ashton Thomas Private Wealth LLC Makes New Investment in Broadstone Net Lease, Inc. (NYSE:BNL)

Ashton Thomas Private Wealth LLC purchased a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 36,474 shares of the company’s stock, valued at approximately $589,000.

Several other hedge funds also recently modified their holdings of BNL. US Bancorp DE raised its stake in Broadstone Net Lease by 636.6% during the 3rd quarter. US Bancorp DE now owns 3,941 shares of the company’s stock valued at $75,000 after purchasing an additional 3,406 shares during the last quarter. Assetmark Inc. raised its position in shares of Broadstone Net Lease by 345.1% during the fourth quarter. Assetmark Inc. now owns 4,464 shares of the company’s stock valued at $71,000 after buying an additional 3,461 shares during the last quarter. Blue Trust Inc. raised 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 valued at $77,000 after buying an additional 925 shares during the last quarter. KBC Group NV raised its position in shares of Broadstone Net Lease by 29.4% during the third quarter. KBC Group NV now owns 6,220 shares of the company’s stock valued at $118,000 after buying an additional 1,413 shares during the last quarter. Finally, FMR LLC grew its position in Broadstone Net Lease by 84.0% during the third quarter. FMR LLC now owns 9,992 shares of the company’s stock worth $189,000 after buying an additional 4,562 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. UBS Group initiated coverage on Broadstone Net Lease in a research note on Thursday, November 14th. They set a “neutral” rating and a $18.00 price target on the stock. JMP Securities upgraded Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research report on Tuesday, December 17th. Finally, 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $18.60.

Broadstone Net Lease Trading Up 0.3 %

NYSE BNL opened at $17.02 on Tuesday. Broadstone Net Lease, Inc. has a 1-year low of $14.20 and a 1-year high of $19.15. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 19.56 and a beta of 1.09. The stock’s 50 day moving average is $15.92 and its two-hundred day moving average is $17.11.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings results 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 firm 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, analysts predict that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current year.

Broadstone Net Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 6.82%. The ex-dividend date of this dividend is Monday, March 31st. Broadstone Net Lease’s payout ratio is 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.