Thrivent Financial for Lutherans Boosts Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Thrivent Financial for Lutherans grew its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 220.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 538,743 shares of the company’s stock after purchasing an additional 370,598 shares during the quarter. Thrivent Financial for Lutherans owned 0.29% of Broadstone Net Lease worth $8,545,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its stake in shares of Broadstone Net Lease by 139.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock valued at $43,000 after purchasing an additional 1,592 shares during the period. Assetmark Inc. raised its holdings in Broadstone Net Lease by 345.1% in the fourth quarter. Assetmark Inc. now owns 4,464 shares of the company’s stock valued at $71,000 after acquiring an additional 3,461 shares in the last quarter. Blue Trust Inc. raised its holdings in Broadstone Net Lease by 23.7% in the fourth quarter. Blue Trust Inc. now owns 4,827 shares of the company’s stock valued at $77,000 after acquiring an additional 925 shares in the last quarter. KBC Group NV raised its holdings in Broadstone Net Lease by 27.0% in the fourth quarter. KBC Group NV now owns 7,901 shares of the company’s stock valued at $125,000 after acquiring an additional 1,681 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Broadstone Net Lease by 58.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,842 shares of the company’s stock valued at $172,000 after acquiring an additional 4,017 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Trading Down 2.0 %

BNL stock opened at $16.84 on Friday. Broadstone Net Lease, Inc. has a twelve month low of $14.21 and a twelve month high of $19.15. The company’s 50 day moving average is $16.17 and its two-hundred day moving average is $17.03. The stock has a market cap of $3.18 billion, a P/E ratio of 19.35 and a beta of 1.09.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $109.80 million. On average, equities research analysts predict that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current year.

Broadstone Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.89%. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 133.33%.

Analyst Ratings Changes

BNL has been the topic of several analyst reports. JMP Securities raised shares of 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. 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 equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.