Intech Investment Management LLC Has $1.77 Million Stock Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Intech Investment Management LLC raised its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 234.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 111,588 shares of the company’s stock after buying an additional 78,205 shares during the quarter. Intech Investment Management LLC owned about 0.06% of Broadstone Net Lease worth $1,770,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Thrivent Financial for Lutherans lifted its position in Broadstone Net Lease by 220.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 538,743 shares of the company’s stock valued at $8,545,000 after acquiring an additional 370,598 shares in the last quarter. Cibc World Markets Corp acquired a new stake in shares of Broadstone Net Lease in the 4th quarter valued at about $280,000. Corient Private Wealth LLC raised its stake in shares of Broadstone Net Lease by 2.2% in the 4th quarter. Corient Private Wealth LLC now owns 41,892 shares of the company’s stock valued at $664,000 after purchasing an additional 907 shares during the period. Natixis Advisors LLC boosted its position in shares of Broadstone Net Lease by 4.3% during the fourth quarter. Natixis Advisors LLC now owns 119,240 shares of the company’s stock worth $1,891,000 after buying an additional 4,968 shares during the period. Finally, Commonwealth Equity Services LLC grew its holdings in shares of Broadstone Net Lease by 1.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 99,275 shares of the company’s stock worth $1,575,000 after buying an additional 1,665 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on BNL. JMP Securities upgraded Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Tuesday, December 17th. 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 analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $18.60.

Broadstone Net Lease Stock Down 0.4 %

Shares of Broadstone Net Lease stock opened at $17.19 on Friday. The stock has a market cap of $3.25 billion, a P/E ratio of 19.76 and a beta of 1.09. Broadstone Net Lease, Inc. has a 12-month low of $14.21 and a 12-month high of $19.15. The business’s 50 day moving average is $16.13 and its 200-day moving average is $17.05.

Broadstone Net Lease (NYSE:BNL) last posted 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 firm had revenue of $112.13 million for 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%. On average, sell-side analysts expect that Broadstone Net Lease, Inc. will post 1.43 EPS 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. Investors of record on Monday, March 31st will be paid a $0.29 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.16 annualized dividend and a yield of 6.75%. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 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.