Cobblestone Capital Advisors LLC NY Has $13.70 Million Stock Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Cobblestone Capital Advisors LLC NY reduced its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 863,634 shares of the company’s stock after selling 28,993 shares during the quarter. Cobblestone Capital Advisors LLC NY owned about 0.46% of Broadstone Net Lease worth $13,697,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in BNL. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Broadstone Net Lease by 35.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,314 shares of the company’s stock valued at $138,000 after buying an additional 1,908 shares during the last quarter. abrdn plc raised its stake in shares of Broadstone Net Lease by 10.5% during the 3rd quarter. abrdn plc now owns 37,655 shares of the company’s stock valued at $714,000 after purchasing an additional 3,592 shares during the period. US Bancorp DE raised its stake in shares of Broadstone Net Lease by 636.6% during the 3rd quarter. US Bancorp DE now owns 3,941 shares of the company’s stock valued at $75,000 after purchasing an additional 3,406 shares during the period. Van ECK Associates Corp increased its stake in Broadstone Net Lease by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 32,419 shares of the company’s stock worth $591,000 after acquiring an additional 3,558 shares during the last quarter. Finally, BSW Wealth Partners bought a new position in shares of Broadstone Net Lease during the 3rd quarter valued at about $758,000. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. UBS Group initiated coverage on Broadstone Net Lease in a report on Thursday, November 14th. They set a “neutral” rating and a $18.00 target price for the company. 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 price target for the company in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $18.60.

Broadstone Net Lease Trading Up 0.1 %

NYSE:BNL opened at $16.82 on Friday. The business’s 50-day moving average is $15.82 and its 200 day moving average is $17.15. Broadstone Net Lease, Inc. has a 12 month low of $14.20 and a 12 month high of $19.15. The company has a market capitalization of $3.17 billion, a P/E ratio of 19.33 and a beta of 1.11.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate 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. On average, research analysts forecast that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current year.

Broadstone Net Lease Announces Dividend

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 paid a $0.29 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.16 annualized dividend and a yield of 6.90%. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 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.