Broadstone Net Lease, Inc. (NYSE:BNL) Shares Sold by Modern Wealth Management LLC

Modern Wealth Management LLC lessened its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 1.6% in the fourth quarter, HoldingsChannel reports. The fund owned 112,512 shares of the company’s stock after selling 1,859 shares during the period. Modern Wealth Management LLC’s holdings in Broadstone Net Lease were worth $1,730,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of BNL. EverSource Wealth Advisors LLC raised its holdings in Broadstone Net Lease by 139.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock worth $43,000 after buying an additional 1,592 shares during the period. Assetmark Inc. increased its position in shares of Broadstone Net Lease by 345.1% in the fourth quarter. Assetmark Inc. now owns 4,464 shares of the company’s stock worth $71,000 after acquiring an additional 3,461 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Broadstone Net Lease by 23.7% during the fourth quarter. Blue Trust Inc. now owns 4,827 shares of the company’s stock valued at $77,000 after acquiring an additional 925 shares during the period. KBC Group NV lifted its position in shares of Broadstone Net Lease by 27.0% in the 4th quarter. KBC Group NV now owns 7,901 shares of the company’s stock valued at $125,000 after acquiring an additional 1,681 shares in the last quarter. Finally, FMR LLC boosted its stake in Broadstone Net Lease by 84.0% in the 3rd quarter. FMR LLC now owns 9,992 shares of the company’s stock worth $189,000 after purchasing an additional 4,562 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Broadstone Net Lease Stock Down 2.2 %

Shares of NYSE:BNL opened at $16.82 on Wednesday. The firm has a fifty day moving average of $16.23 and a two-hundred day moving average of $17.01. Broadstone Net Lease, Inc. has a 12-month low of $14.21 and a 12-month high of $19.15. The firm has a market capitalization of $3.18 billion, a P/E ratio of 19.33 and a beta of 1.09.

Broadstone Net Lease (NYSE:BNL) last issued its earnings results on Wednesday, February 19th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.16. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. The firm had revenue of $112.13 million for the quarter, compared to the consensus estimate of $109.80 million. Equities research analysts expect that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.29 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a yield of 6.90%. Broadstone Net Lease’s dividend payout ratio is currently 133.33%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BNL shares. JMP Securities raised shares of 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 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 assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $18.60.

Broadstone Net Lease 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.