Ashton Thomas Private Wealth LLC Purchases New Shares in Broadstone Net Lease, Inc. (NYSE:BNL)

Ashton Thomas Private Wealth LLC acquired a new stake in Broadstone Net Lease, Inc. (NYSE:BNL) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 36,474 shares of the company’s stock, valued at approximately $589,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. US Bancorp DE increased 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 purchasing an additional 3,406 shares in the last quarter. Assetmark Inc. raised its stake in shares of Broadstone Net Lease by 345.1% during the fourth quarter. Assetmark Inc. now owns 4,464 shares of the company’s stock worth $71,000 after buying an additional 3,461 shares during the last quarter. Blue Trust Inc. lifted its holdings 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 period. KBC Group NV boosted 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 acquiring an additional 1,413 shares during the last quarter. Finally, FMR LLC grew its holdings in Broadstone Net Lease by 84.0% during the 3rd quarter. FMR LLC now owns 9,992 shares of the company’s stock worth $189,000 after acquiring an additional 4,562 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BNL shares. UBS Group began coverage on Broadstone Net Lease in a research note on Thursday, November 14th. They set a “neutral” rating and a $18.00 price objective for the company. JMP Securities raised Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research note on Tuesday, December 17th. Finally, Citizens Jmp upgraded shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $18.60.

Broadstone Net Lease Stock Up 0.3 %

NYSE:BNL opened at $17.02 on Tuesday. The company has a market cap of $3.21 billion, a P/E ratio of 19.56 and a beta of 1.09. Broadstone Net Lease, Inc. has a twelve month low of $14.20 and a twelve month high of $19.15. The business has a 50 day moving average price of $15.92 and a two-hundred day moving average price of $17.11.

Broadstone Net Lease (NYSE:BNL) last announced its earnings results on Wednesday, February 19th. The company reported $0.36 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $109.80 million. As a group, analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 6.82%. The ex-dividend date of this dividend is Monday, March 31st. Broadstone Net Lease’s payout ratio is 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.