Modern Wealth Management LLC Reduces Stock Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Modern Wealth Management LLC reduced its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 112,512 shares of the company’s stock after selling 1,859 shares during the quarter. Modern Wealth Management LLC owned 0.06% of Broadstone Net Lease worth $1,730,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in BNL. State of Alaska Department of Revenue boosted its stake in Broadstone Net Lease by 1.0% during the 4th quarter. State of Alaska Department of Revenue now owns 90,318 shares of the company’s stock valued at $1,432,000 after acquiring an additional 882 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Broadstone Net Lease by 2.2% in the 3rd quarter. Cerity Partners LLC now owns 40,480 shares of the company’s stock valued at $767,000 after purchasing an additional 886 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of Broadstone Net Lease by 2.2% during the fourth quarter. Corient Private Wealth LLC now owns 41,892 shares of the company’s stock worth $664,000 after purchasing an additional 907 shares during the last quarter. Blue Trust Inc. grew its stake in Broadstone Net Lease by 23.7% in the fourth quarter. Blue Trust Inc. now owns 4,827 shares of the company’s stock worth $77,000 after purchasing an additional 925 shares in the last quarter. Finally, Stifel Financial Corp increased its holdings in 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 buying an additional 939 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Trading Down 2.2 %

NYSE:BNL opened at $16.82 on Wednesday. The stock has a 50 day moving average of $16.23 and a 200-day moving average of $17.01. The firm has a market capitalization of $3.18 billion, a PE ratio of 19.33 and a beta of 1.09. Broadstone Net Lease, Inc. has a 52 week low of $14.21 and a 52 week high of $19.15.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.16. The firm had revenue of $112.13 million during the quarter, compared to the consensus estimate of $109.80 million. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. As a group, analysts predict that Broadstone Net Lease, Inc. will post 1.43 EPS 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 is Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.90%. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 133.33%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BNL. 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 report on Tuesday, December 17th. Citizens Jmp raised shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Broadstone Net Lease currently has a consensus rating of “Hold” and an average 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.