Fox Run Management L.L.C. Buys New Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Fox Run Management L.L.C. purchased a new stake in Broadstone Net Lease, Inc. (NYSE:BNL) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 39,264 shares of the company’s stock, valued at approximately $623,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in shares of Broadstone Net Lease by 1.6% during the 4th quarter. Principal Financial Group Inc. now owns 14,276,250 shares of the company’s stock valued at $226,423,000 after acquiring an additional 227,833 shares during the period. Geode Capital Management LLC boosted its position in shares of Broadstone Net Lease by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,844,943 shares of the company’s stock worth $91,827,000 after purchasing an additional 62,515 shares in the last quarter. Aew Capital Management L P grew its stake in shares of Broadstone Net Lease by 2.3% in the 4th quarter. Aew Capital Management L P now owns 3,135,949 shares of the company’s stock valued at $49,736,000 after buying an additional 69,690 shares during the period. Charles Schwab Investment Management Inc. increased its position in Broadstone Net Lease by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,077,513 shares of the company’s stock valued at $48,809,000 after buying an additional 71,709 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Broadstone Net Lease by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,834,413 shares of the company’s stock worth $34,762,000 after buying an additional 84,509 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Broadstone Net Lease Trading Up 2.2 %

Shares of Broadstone Net Lease stock opened at $17.23 on Tuesday. The company has a market capitalization of $3.25 billion, a P/E ratio of 19.80 and a beta of 1.09. The stock has a fifty day simple moving average of $16.20 and a 200 day simple moving average of $17.02. Broadstone Net Lease, Inc. has a 12-month low of $14.21 and a 12-month high of $19.15.

Broadstone Net Lease (NYSE:BNL) last posted its 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. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. The firm had revenue of $112.13 million during the quarter, compared to analyst estimates of $109.80 million. On average, analysts predict that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.

Broadstone Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 6.73%. Broadstone Net Lease’s payout ratio is presently 133.33%.

Analyst Ratings Changes

A number of brokerages have commented on BNL. JMP Securities raised Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research note on Tuesday, December 17th. 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. 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. According to MarketBeat.com, the stock has an average rating of “Hold” and an average 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.