Concurrent Investment Advisors LLC Sells 42,029 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Concurrent Investment Advisors LLC cut its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 20.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 165,925 shares of the company’s stock after selling 42,029 shares during the period. Concurrent Investment Advisors LLC’s holdings in Broadstone Net Lease were worth $2,632,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Principal Financial Group Inc. boosted its holdings in 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 buying an additional 227,833 shares during the period. Geode Capital Management LLC boosted its holdings in Broadstone Net Lease by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,844,943 shares of the company’s stock worth $91,827,000 after buying an additional 62,515 shares during the period. JPMorgan Chase & Co. boosted its holdings in Broadstone Net Lease by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,834,413 shares of the company’s stock worth $34,762,000 after buying an additional 84,509 shares during the period. Victory Capital Management Inc. boosted its holdings in Broadstone Net Lease by 35.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,454,507 shares of the company’s stock worth $27,563,000 after buying an additional 380,772 shares during the period. Finally, Brookfield Corp ON purchased a new stake in Broadstone Net Lease in the 3rd quarter worth approximately $18,444,000. 89.07% of the stock is owned by institutional investors.

Broadstone Net Lease Stock Performance

Broadstone Net Lease stock opened at $15.96 on Friday. The firm’s fifty day moving average price is $15.80 and its 200-day moving average price is $17.17. The stock has a market cap of $3.01 billion, a P/E ratio of 18.34 and a beta of 1.11. Broadstone Net Lease, Inc. has a fifty-two week low of $14.20 and a fifty-two week high of $19.15.

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

Broadstone Net Lease Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 7.27%. The ex-dividend date of this dividend is Monday, March 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 133.33%.

Wall Street Analyst Weigh In

BNL has been the topic of several recent analyst reports. UBS Group initiated coverage on shares of Broadstone Net Lease in a research note on Thursday, November 14th. They issued a “neutral” rating and a $18.00 target price on the stock. JMP Securities upgraded shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Tuesday, December 17th. Finally, Citizens Jmp upgraded shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $18.60.

Broadstone Net Lease Company 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.