Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $967,000 Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 86.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,002 shares of the company’s stock after buying an additional 28,253 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Broadstone Net Lease were worth $967,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. EverSource Wealth Advisors LLC grew its stake in 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 in the last quarter. Assetmark Inc. grew its stake in shares of 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 buying an additional 3,461 shares in the last quarter. Blue Trust Inc. increased its holdings 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 last quarter. KBC Group NV raised its position in Broadstone Net Lease by 27.0% during the fourth quarter. KBC Group NV now owns 7,901 shares of the company’s stock worth $125,000 after acquiring an additional 1,681 shares in the last quarter. Finally, FMR LLC raised its position in Broadstone Net Lease by 84.0% during the third quarter. FMR LLC now owns 9,992 shares of the company’s stock worth $189,000 after acquiring an additional 4,562 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Trading Up 2.1 %

Shares of NYSE BNL opened at $17.16 on Thursday. The business’s 50 day moving average is $16.26 and its 200-day moving average is $17.01. The firm has a market cap of $3.24 billion, a P/E ratio of 19.72 and a beta of 1.09. Broadstone Net Lease, Inc. has a 1-year low of $14.21 and a 1-year high of $19.15.

Broadstone Net Lease (NYSE:BNL) last posted its earnings results 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 return on equity of 5.10% and a net margin of 37.62%. The company had revenue of $112.13 million during the quarter, compared to the consensus estimate of $109.80 million. Analysts forecast that Broadstone Net Lease, Inc. will post 1.43 EPS 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 issued a dividend of $0.29 per share. The ex-dividend date is Monday, March 31st. This represents a $1.16 annualized dividend and a dividend yield of 6.76%. Broadstone Net Lease’s dividend payout ratio is presently 133.33%.

Wall Street Analysts Forecast Growth

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