Broadstone Net Lease, Inc. (NYSE:BNL) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can boosted its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 603.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,891,881 shares of the company’s stock after buying an additional 1,623,098 shares during the period. Bank of Montreal Can’s holdings in Broadstone Net Lease were worth $30,005,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Broadstone Net Lease by 84.0% in 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 during the last quarter. Stifel Financial Corp boosted its holdings 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 valued at $293,000 after purchasing an additional 939 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Broadstone Net Lease during the 3rd quarter valued at $12,574,000. XTX Topco Ltd acquired a new stake in shares of Broadstone Net Lease during the 3rd quarter worth $348,000. Finally, Public Employees Retirement System of Ohio raised its position in shares of Broadstone Net Lease by 0.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 270,542 shares of the company’s stock worth $5,127,000 after buying an additional 2,387 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Price Performance

Shares of BNL opened at $14.92 on Friday. Broadstone Net Lease, Inc. has a 12 month low of $13.96 and a 12 month high of $19.15. The stock has a market cap of $2.82 billion, a PE ratio of 17.14 and a beta of 1.03. The stock’s 50-day moving average is $16.30 and its two-hundred day moving average is $16.79.

Broadstone Net Lease (NYSE:BNL) last released its quarterly 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 firm had revenue of $112.13 million during the quarter, compared to analysts’ expectations of $109.80 million. On average, research analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current year.

Broadstone Net Lease Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 7.78%. The ex-dividend date of this dividend is Monday, March 31st. Broadstone Net Lease’s payout ratio is 133.33%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Citizens Jmp raised Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. 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 report on Tuesday, December 17th. Finally, BMO Capital Markets set a $20.00 price target on shares of Broadstone Net Lease and gave the company an “outperform” rating in a report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, three have given 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 stock presently has a consensus rating of “Moderate Buy” 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.