Prairiewood Capital LLC Buys 994 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Prairiewood Capital LLC lifted its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 317,344 shares of the company’s stock after acquiring an additional 994 shares during the quarter. Broadstone Net Lease accounts for about 2.1% of Prairiewood Capital LLC’s investment portfolio, making the stock its 13th largest holding. Prairiewood Capital LLC’s holdings in Broadstone Net Lease were worth $5,033,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in BNL. Xponance Inc. increased its position in Broadstone Net Lease by 5.1% during the second quarter. Xponance Inc. now owns 11,922 shares of the company’s stock valued at $189,000 after acquiring an additional 580 shares during the last quarter. Evermay Wealth Management LLC increased its position in shares of Broadstone Net Lease by 1.4% during the 3rd quarter. Evermay Wealth Management LLC now owns 49,186 shares of the company’s stock valued at $937,000 after purchasing an additional 677 shares during the last quarter. Cerity Partners LLC lifted 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 worth $767,000 after purchasing an additional 886 shares during the period. Stifel Financial Corp boosted its holdings 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 worth $293,000 after buying an additional 939 shares during the last quarter. Finally, QRG Capital Management Inc. grew its position in Broadstone Net Lease by 10.1% during the third 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 during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Broadstone Net Lease Stock Performance

Shares of BNL stock opened at $15.75 on Tuesday. The stock has a fifty day simple moving average of $16.50 and a two-hundred day simple moving average of $17.40. The firm has a market capitalization of $2.97 billion, a PE ratio of 20.73 and a beta of 1.11. Broadstone Net Lease, Inc. has a 52-week low of $14.20 and a 52-week high of $19.15.

Broadstone Net Lease (NYSE:BNL) last issued its earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.15). Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.47%. The business had revenue of $108.40 million for the quarter, compared to the consensus estimate of $106.47 million. During the same period last year, the business posted $0.36 EPS. On average, sell-side analysts forecast that Broadstone Net Lease, Inc. will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BNL shares. JMP Securities upgraded shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research report on Tuesday, December 17th. Citizens Jmp upgraded Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Finally, UBS Group assumed coverage on Broadstone Net Lease in a report on Thursday, November 14th. They set a “neutral” rating and a $18.00 price target for the company. One equities research 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 company’s stock. According to data from MarketBeat, Broadstone Net Lease presently has a consensus 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.