Bank of Montreal Can Raises Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Bank of Montreal Can grew its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 603.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,891,881 shares of the company’s stock after buying an additional 1,623,098 shares during the quarter. Bank of Montreal Can owned about 1.00% of Broadstone Net Lease worth $30,005,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Federated Hermes Inc. lifted its holdings in Broadstone Net Lease by 73,833.3% in the fourth quarter. Federated Hermes Inc. now owns 2,218 shares of the company’s stock valued at $35,000 after acquiring an additional 2,215 shares during the period. EverSource Wealth Advisors LLC lifted 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. boosted its holdings in Broadstone Net Lease by 345.1% during the fourth quarter. Assetmark Inc. now owns 4,464 shares of the company’s stock worth $71,000 after buying an additional 3,461 shares in the last quarter. Blue Trust Inc. grew its position in Broadstone Net Lease by 23.7% during the fourth quarter. Blue Trust Inc. now owns 4,827 shares of the company’s stock worth $77,000 after buying an additional 925 shares during the period. Finally, KBC Group NV increased 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 buying an additional 1,681 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BNL has been the topic of several research analyst reports. JMP Securities raised 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 note on Tuesday, December 17th. BMO Capital Markets set a $20.00 target price on Broadstone Net Lease and gave the company an “outperform” rating in a report on Monday, March 24th. Finally, Citizens Jmp raised Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.83.

Broadstone Net Lease Stock Performance

Broadstone Net Lease stock opened at $14.92 on Friday. Broadstone Net Lease, Inc. has a fifty-two week low of $13.96 and a fifty-two week high of $19.15. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 17.14 and a beta of 1.03. The stock has a fifty day moving average of $16.30 and a two-hundred day moving average of $16.79.

Broadstone Net Lease (NYSE:BNL) last posted 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 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 forecast 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 paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 7.78%. The ex-dividend date is Monday, March 31st. Broadstone Net Lease’s payout ratio is 133.33%.

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.