Fox Run Management L.L.C. Invests $623,000 in Broadstone Net Lease, Inc. (NYSE:BNL)

Fox Run Management L.L.C. acquired a new stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 39,264 shares of the company’s stock, valued at approximately $623,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BNL. KLP Kapitalforvaltning AS bought a new position in shares of Broadstone Net Lease in the 4th quarter valued at $836,000. Sei Investments Co. grew its position in Broadstone Net Lease by 2.0% in the fourth quarter. Sei Investments Co. now owns 845,136 shares of the company’s stock valued at $13,404,000 after acquiring an additional 16,458 shares during the last quarter. American Century Companies Inc. raised its stake in Broadstone Net Lease by 4.1% during the fourth quarter. American Century Companies Inc. now owns 73,757 shares of the company’s stock worth $1,170,000 after acquiring an additional 2,882 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Broadstone Net Lease in the fourth quarter worth about $886,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Broadstone Net Lease by 86.3% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 61,002 shares of the company’s stock valued at $967,000 after purchasing an additional 28,253 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Broadstone Net Lease Stock Performance

Shares of NYSE:BNL opened at $17.23 on Tuesday. Broadstone Net Lease, Inc. has a 52 week low of $14.21 and a 52 week high of $19.15. The firm has a market cap of $3.25 billion, a PE ratio of 19.80 and a beta of 1.09. The firm’s fifty day moving average is $16.20 and its 200-day moving average is $17.02.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $109.80 million. Sell-side analysts forecast that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.

Broadstone Net Lease Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.29 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.73%. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 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.