Cobblestone Capital Advisors LLC NY Sells 28,993 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Cobblestone Capital Advisors LLC NY lessened its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. 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’s holdings in Broadstone Net Lease were worth $13,697,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State of Alaska Department of Revenue boosted its position in shares of Broadstone Net Lease by 1.0% in the 4th quarter. State of Alaska Department of Revenue now owns 90,318 shares of the company’s stock worth $1,432,000 after purchasing an additional 882 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Broadstone Net Lease by 2.2% in the 3rd quarter. Cerity Partners LLC now owns 40,480 shares of the company’s stock worth $767,000 after purchasing an additional 886 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Broadstone Net Lease by 23.7% in the 4th quarter. Blue Trust Inc. now owns 4,827 shares of the company’s stock worth $77,000 after purchasing an additional 925 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Broadstone Net Lease by 6.5% in the 3rd quarter. Stifel Financial Corp now owns 15,470 shares of the company’s stock worth $293,000 after purchasing an additional 939 shares in the last quarter. Finally, Evermay Wealth Management LLC boosted its position in shares of Broadstone Net Lease by 2.0% in the 4th quarter. Evermay Wealth Management LLC now owns 50,155 shares of the company’s stock worth $798,000 after purchasing an additional 969 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Stock Up 0.1 %

NYSE:BNL opened at $16.82 on Friday. Broadstone Net Lease, Inc. has a 52 week low of $14.20 and a 52 week high of $19.15. The stock has a market capitalization of $3.17 billion, a PE ratio of 19.33 and a beta of 1.11. The stock’s 50-day moving average price is $15.82 and its 200-day moving average price is $17.15.

Broadstone Net Lease (NYSE:BNL) last posted its earnings results on Wednesday, February 19th. The company reported $0.36 EPS for the quarter, beating 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 firm had revenue of $112.13 million for the quarter, compared to analysts’ expectations of $109.80 million. Sell-side analysts expect that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal 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. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.90%. 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 equities analysts recently issued reports on BNL shares. UBS Group started coverage on Broadstone Net Lease in a research note on Thursday, November 14th. They issued 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 target price for the company in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $18.60.

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.