Massachusetts Financial Services Co. MA Sells 22,578 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Massachusetts Financial Services Co. MA cut its position in Broadstone Net Lease, Inc. (NYSE:BNL) by 0.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,957,017 shares of the company’s stock after selling 22,578 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.57% of Broadstone Net Lease worth $46,898,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of BNL. Geode Capital Management LLC lifted its holdings in shares of Broadstone Net Lease by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 4,860,444 shares of the company’s stock valued at $77,103,000 after purchasing an additional 15,501 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Broadstone Net Lease by 5.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 246,600 shares of the company’s stock valued at $3,911,000 after acquiring an additional 11,700 shares during the period. Norges Bank bought a new position in Broadstone Net Lease during the 4th quarter valued at about $36,170,000. JPMorgan Chase & Co. boosted its holdings in shares of Broadstone Net Lease by 16.1% during the 4th quarter. JPMorgan Chase & Co. now owns 2,129,196 shares of the company’s stock valued at $33,769,000 after acquiring an additional 294,783 shares during the last quarter. Finally, LPL Financial LLC grew its stake in shares of Broadstone Net Lease by 94.8% in the fourth quarter. LPL Financial LLC now owns 112,464 shares of the company’s stock worth $1,784,000 after acquiring an additional 54,721 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Broadstone Net Lease Trading Down 3.3 %

Broadstone Net Lease stock opened at $16.16 on Friday. Broadstone Net Lease, Inc. has a 12-month low of $14.21 and a 12-month high of $19.15. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 18.57 and a beta of 1.03. The firm has a 50 day moving average of $16.41 and a 200 day moving average of $16.93.

Broadstone Net Lease (NYSE:BNL) last released its earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.16. The firm had revenue of $112.13 million during the quarter, compared to analysts’ expectations of $109.80 million. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. On average, analysts predict that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 7.18%. The ex-dividend date of this dividend is Monday, March 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 133.33%.

Wall Street Analyst Weigh In

A number of research analysts recently 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 objective 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 note on Tuesday, December 17th. Finally, BMO Capital Markets set a $20.00 price objective on Broadstone Net Lease and gave the company an “outperform” rating in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $18.83.

Broadstone Net Lease 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.