Broadstone Net Lease, Inc. (NYSE:BNL) Position Cut by Kovack Advisors Inc.

Kovack Advisors Inc. trimmed its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 22.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 35,943 shares of the company’s stock after selling 10,366 shares during the quarter. Kovack Advisors Inc.’s holdings in Broadstone Net Lease were worth $570,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE lifted its stake in 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 during the last quarter. Blue Trust Inc. lifted its stake in Broadstone Net Lease by 23.7% in the fourth quarter. Blue Trust Inc. now owns 4,827 shares of the company’s stock valued at $77,000 after buying an additional 925 shares during the last quarter. KBC Group NV lifted its stake in Broadstone Net Lease by 29.4% in the third quarter. KBC Group NV now owns 6,220 shares of the company’s stock valued at $118,000 after buying an additional 1,413 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Broadstone Net Lease by 35.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,314 shares of the company’s stock valued at $138,000 after buying an additional 1,908 shares during 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 buying an additional 4,562 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. 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. Citizens Jmp upgraded shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. Finally, JMP Securities upgraded shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $18.60.

Broadstone Net Lease Stock Up 0.1 %

NYSE:BNL opened at $16.82 on Friday. The business’s 50-day moving average price is $15.82 and its 200 day moving average price is $17.15. The firm has a market cap of $3.17 billion, a P/E ratio of 19.33 and a beta of 1.11. Broadstone Net Lease, Inc. has a 52-week low of $14.20 and a 52-week high of $19.15.

Broadstone Net Lease (NYSE:BNL) last released its earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 5.10% and a net margin of 37.62%. Sell-side analysts expect that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.

Broadstone Net Lease Dividend Announcement

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 issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 6.90%. The ex-dividend date is Monday, March 31st. Broadstone Net Lease’s payout ratio is currently 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.