Concurrent Investment Advisors LLC Has $2.63 Million Stock Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Concurrent Investment Advisors LLC lowered its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 20.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 165,925 shares of the company’s stock after selling 42,029 shares during the period. Concurrent Investment Advisors LLC owned approximately 0.09% of Broadstone Net Lease worth $2,632,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Handelsbanken Fonder AB raised its holdings in shares of Broadstone Net Lease by 8.8% in the 4th quarter. Handelsbanken Fonder AB now owns 68,200 shares of the company’s stock worth $1,082,000 after acquiring an additional 5,500 shares during the last quarter. Kestra Investment Management LLC raised its holdings in shares of Broadstone Net Lease by 71.2% in the 4th quarter. Kestra Investment Management LLC now owns 51,862 shares of the company’s stock worth $823,000 after acquiring an additional 21,577 shares during the last quarter. D.A. Davidson & CO. raised its holdings in shares of Broadstone Net Lease by 2.5% in the 4th quarter. D.A. Davidson & CO. now owns 78,646 shares of the company’s stock worth $1,247,000 after acquiring an additional 1,932 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Broadstone Net Lease by 1.6% in the 4th quarter. Principal Financial Group Inc. now owns 14,276,250 shares of the company’s stock worth $226,423,000 after acquiring an additional 227,833 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of Broadstone Net Lease by 14.7% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 123,118 shares of the company’s stock worth $1,953,000 after acquiring an additional 15,782 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Citizens Jmp upgraded shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. JMP Securities raised shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research report on Tuesday, December 17th. Finally, UBS Group started coverage on shares of Broadstone Net Lease in a research report on Thursday, November 14th. They issued a “neutral” rating and a $18.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $18.60.

Broadstone Net Lease Stock Down 0.5 %

Broadstone Net Lease stock opened at $15.96 on Friday. Broadstone Net Lease, Inc. has a twelve month low of $14.20 and a twelve month high of $19.15. The firm has a 50 day moving average price of $15.80 and a 200-day moving average price of $17.17. The company has a market capitalization of $3.01 billion, a P/E ratio of 18.34 and a beta of 1.11.

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

Broadstone Net Lease Dividend Announcement

The business 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 7.27%. The ex-dividend date is Monday, March 31st. Broadstone Net Lease’s dividend payout ratio is currently 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.