D.A. Davidson & CO. Has $1.25 Million Stock Position in Broadstone Net Lease, Inc. (NYSE:BNL)

D.A. Davidson & CO. grew its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 2.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 78,646 shares of the company’s stock after acquiring an additional 1,932 shares during the quarter. D.A. Davidson & CO.’s holdings in Broadstone Net Lease were worth $1,247,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BNL. Blue Trust Inc. increased its position in shares of Broadstone Net Lease by 156.5% during the 3rd quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock worth $74,000 after purchasing an additional 2,381 shares during the last quarter. US Bancorp DE grew its stake 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 buying an additional 3,406 shares in the last quarter. KBC Group NV increased its holdings in 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 buying an additional 1,413 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Broadstone Net Lease by 35.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,314 shares of the company’s stock worth $138,000 after acquiring an additional 1,908 shares in the last quarter. Finally, FMR LLC lifted its stake in Broadstone Net Lease by 84.0% in the third quarter. FMR LLC now owns 9,992 shares of the company’s stock valued at $189,000 after acquiring an additional 4,562 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Broadstone Net Lease Stock Performance

Shares of BNL stock opened at $15.96 on Monday. Broadstone Net Lease, Inc. has a 52 week low of $14.20 and a 52 week high of $19.15. The company has a 50-day simple moving average of $15.80 and a 200 day simple moving average of $17.17. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 18.34 and a beta of 1.11.

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 the consensus estimate of $0.20 by $0.16. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. The business had revenue of $112.13 million for the quarter, compared to the consensus estimate 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.27%. The ex-dividend date is Monday, March 31st. Broadstone Net Lease’s payout ratio is currently 133.33%.

Analyst Upgrades and Downgrades

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

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.