Kovack Advisors Inc. Decreases Stock Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Kovack Advisors Inc. decreased its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 22.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,943 shares of the company’s stock after selling 10,366 shares during the period. Kovack Advisors Inc.’s holdings in Broadstone Net Lease were worth $570,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE increased its position 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 worth $75,000 after acquiring an additional 3,406 shares during the last quarter. Blue Trust Inc. grew its stake in Broadstone Net Lease by 23.7% during the 4th quarter. Blue Trust Inc. now owns 4,827 shares of the company’s stock valued at $77,000 after purchasing an additional 925 shares in the last quarter. KBC Group NV increased its holdings in Broadstone Net Lease by 29.4% during the 3rd quarter. KBC Group NV now owns 6,220 shares of the company’s stock worth $118,000 after purchasing an additional 1,413 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Broadstone Net Lease by 35.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,314 shares of the company’s stock valued at $138,000 after purchasing an additional 1,908 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Broadstone Net Lease by 84.0% during the 3rd quarter. FMR LLC now owns 9,992 shares of the company’s stock valued at $189,000 after buying an additional 4,562 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. 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. JMP Securities raised shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research report on Tuesday, December 17th. Finally, UBS Group assumed coverage on shares of Broadstone Net Lease in a research report on Thursday, November 14th. They set a “neutral” rating and a $18.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.60.

Broadstone Net Lease Price Performance

Shares of BNL opened at $16.82 on Friday. The business’s fifty day moving average price is $15.82 and its 200 day moving average price is $17.15. Broadstone Net Lease, Inc. has a 12-month low of $14.20 and a 12-month high of $19.15. The stock has a market capitalization of $3.17 billion, a PE ratio of 19.33 and a beta of 1.11.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings data 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. 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 analysts’ expectations of $109.80 million. As a group, research analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 6.90%. The ex-dividend date is Monday, March 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 133.33%.

Broadstone Net Lease Company 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.