Broadstone Net Lease, Inc. (NYSE:BNL) Shares Sold by High Probability Advisors LLC

High Probability Advisors LLC cut its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 47.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 88,763 shares of the company’s stock after selling 80,444 shares during the period. Broadstone Net Lease makes up 0.3% of High Probability Advisors LLC’s investment portfolio, making the stock its 28th biggest holding. High Probability Advisors LLC’s holdings in Broadstone Net Lease were worth $1,408,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in shares of Broadstone Net Lease by 257.5% during the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $33,000 after purchasing an additional 1,272 shares during the last quarter. Quarry LP raised its position in Broadstone Net Lease by 93.1% during the 2nd quarter. Quarry LP now owns 2,556 shares of the company’s stock worth $41,000 after buying an additional 1,232 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Broadstone Net Lease by 156.5% in the 3rd quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock worth $74,000 after acquiring an additional 2,381 shares during the period. US Bancorp DE boosted its holdings in shares of Broadstone Net Lease by 636.6% in the third quarter. US Bancorp DE now owns 3,941 shares of the company’s stock valued at $75,000 after acquiring an additional 3,406 shares in the last quarter. Finally, KBC Group NV increased its stake 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 worth $118,000 after acquiring an additional 1,413 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Broadstone Net Lease Price Performance

NYSE BNL opened at $15.85 on Friday. The business has a 50 day moving average price of $16.43 and a 200 day moving average price of $17.38. The company has a market capitalization of $2.99 billion, a P/E ratio of 20.86 and a beta of 1.11. Broadstone Net Lease, Inc. has a 1-year low of $14.20 and a 1-year high of $19.15.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.15). The firm had revenue of $108.40 million for the quarter, compared to analyst estimates of $106.47 million. Broadstone Net Lease had a return on equity of 4.47% and a net margin of 33.56%. During the same period last year, the firm earned $0.36 EPS. On average, research analysts expect that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.29 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.16 annualized dividend and a dividend yield of 7.32%. Broadstone Net Lease’s dividend payout ratio is presently 152.63%.

Analyst Ratings Changes

BNL has been the subject of a number of recent 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. 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. Finally, 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 issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Broadstone Net Lease currently has a consensus 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.