Cooper Haims Advisors LLC Cuts Stock Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Cooper Haims Advisors LLC reduced its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 15.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,753 shares of the company’s stock after selling 13,007 shares during the period. Broadstone Net Lease comprises 0.7% of Cooper Haims Advisors LLC’s investment portfolio, making the stock its 22nd largest holding. Cooper Haims Advisors LLC’s holdings in Broadstone Net Lease were worth $1,170,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Federated Hermes Inc. increased its holdings in shares of Broadstone Net Lease by 73,833.3% in the 4th quarter. Federated Hermes Inc. now owns 2,218 shares of the company’s stock valued at $35,000 after acquiring an additional 2,215 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Broadstone Net Lease by 139.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock worth $43,000 after purchasing an additional 1,592 shares in the last quarter. Assetmark Inc. raised its holdings in 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 purchasing an additional 3,461 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Broadstone Net Lease by 23.7% during the 4th quarter. Blue Trust Inc. now owns 4,827 shares of the company’s stock worth $77,000 after buying an additional 925 shares during the last quarter. Finally, FIL Ltd boosted its holdings in shares of Broadstone Net Lease by 46.1% in the 4th quarter. FIL Ltd now owns 6,663 shares of the company’s stock valued at $106,000 after buying an additional 2,102 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BNL has been the subject of several research reports. Citizens Jmp upgraded shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. BMO Capital Markets set a $20.00 price objective on Broadstone Net Lease and gave the stock an “outperform” rating in a research report on Monday, March 24th. Finally, JMP Securities raised Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Broadstone Net Lease presently has a consensus rating of “Hold” and an average price target of $18.83.

Broadstone Net Lease Price Performance

Broadstone Net Lease stock opened at $15.28 on Tuesday. The stock’s 50 day moving average price is $16.38 and its 200 day moving average price is $16.89. The company has a market cap of $2.88 billion, a PE ratio of 17.56 and a beta of 1.03. Broadstone Net Lease, Inc. has a 1-year low of $14.21 and a 1-year high of $19.15.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share (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 company had revenue of $112.13 million for the quarter, compared to the consensus estimate of $109.80 million. On average, equities research analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The company 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. The ex-dividend date is Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.59%. Broadstone Net Lease’s dividend payout ratio (DPR) is 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.