CANADA LIFE ASSURANCE Co Has $3.76 Million Stock Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

CANADA LIFE ASSURANCE Co boosted its position in Broadstone Net Lease, Inc. (NYSE:BNL) by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 237,083 shares of the company’s stock after acquiring an additional 10,063 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.13% of Broadstone Net Lease worth $3,756,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its stake 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 valued at $1,432,000 after purchasing an additional 882 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in Broadstone Net Lease by 3.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 23,826 shares of the company’s stock valued at $378,000 after buying an additional 892 shares in the last quarter. Corient Private Wealth LLC grew its position in Broadstone Net Lease by 2.2% in the fourth quarter. Corient Private Wealth LLC now owns 41,892 shares of the company’s stock valued at $664,000 after acquiring an additional 907 shares during the last quarter. Blue Trust Inc. raised its stake 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 acquiring an additional 925 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of Broadstone Net Lease by 6.5% in the third quarter. Stifel Financial Corp now owns 15,470 shares of the company’s stock worth $293,000 after acquiring an additional 939 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Broadstone Net Lease Trading Down 0.1 %

Broadstone Net Lease stock opened at $15.93 on Friday. The stock has a 50-day moving average price of $16.38 and a two-hundred day moving average price of $16.60. Broadstone Net Lease, Inc. has a 12 month low of $13.96 and a 12 month high of $19.15. The company has a market capitalization of $3.01 billion, a PE ratio of 18.31 and a beta of 1.03.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate 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. As a group, analysts predict that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.28%. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 133.33%.

Analyst Ratings Changes

Separately, 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 research analyst has rated the stock with a sell rating, three have given a hold rating, three 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 “Moderate Buy” and a consensus target price of $18.83.

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.