LVW Advisors LLC Decreases Stock Position in Broadstone Net Lease, Inc. (NYSE:BNL)

LVW Advisors LLC cut its position in Broadstone Net Lease, Inc. (NYSE:BNL) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,762 shares of the company’s stock after selling 1,428 shares during the quarter. LVW Advisors LLC’s holdings in Broadstone Net Lease were worth $1,995,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BNL. Xponance Inc. increased its holdings in Broadstone Net Lease by 5.1% in the 2nd quarter. Xponance Inc. now owns 11,922 shares of the company’s stock worth $189,000 after acquiring an additional 580 shares during the last quarter. Evermay Wealth Management LLC increased its stake in shares of Broadstone Net Lease by 1.4% in the third quarter. Evermay Wealth Management LLC now owns 49,186 shares of the company’s stock worth $937,000 after purchasing an additional 677 shares in the last quarter. Cerity Partners LLC increased its stake in shares of Broadstone Net Lease by 2.2% in the third quarter. Cerity Partners LLC now owns 40,480 shares of the company’s stock worth $767,000 after purchasing an additional 886 shares in the last quarter. Stifel Financial Corp raised its position in shares of Broadstone Net Lease by 6.5% in the third quarter. Stifel Financial Corp now owns 15,470 shares of the company’s stock valued at $293,000 after purchasing an additional 939 shares during the period. Finally, QRG Capital Management Inc. lifted its stake in shares of Broadstone Net Lease by 10.1% during the 3rd quarter. QRG Capital Management Inc. now owns 13,247 shares of the company’s stock valued at $251,000 after buying an additional 1,220 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Stock Performance

Broadstone Net Lease stock opened at $15.75 on Monday. Broadstone Net Lease, Inc. has a fifty-two week low of $14.20 and a fifty-two week high of $19.15. The stock has a market cap of $2.97 billion, a P/E ratio of 20.73 and a beta of 1.11. The firm’s fifty day moving average price is $16.54 and its 200-day moving average price is $17.40.

Broadstone Net Lease (NYSE:BNL) last announced its earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The business had revenue of $108.40 million during the quarter, compared to the consensus estimate of $106.47 million. Broadstone Net Lease had a return on equity of 4.47% and a net margin of 33.56%. During the same quarter in the prior year, the company earned $0.36 earnings per share. Sell-side analysts predict that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.16 annualized dividend and a yield of 7.36%. Broadstone Net Lease’s payout ratio is presently 152.63%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BNL shares. UBS Group initiated coverage on Broadstone Net Lease in a research report on Thursday, November 14th. They set a “neutral” rating and a $18.00 target price on the stock. Citizens Jmp upgraded Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. Finally, JMP Securities upgraded 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. One 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 company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.60.

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.