Cobblestone Capital Advisors LLC NY Has $16.92 Million Stock Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Cobblestone Capital Advisors LLC NY cut its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 8.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 892,627 shares of the company’s stock after selling 79,238 shares during the period. Cobblestone Capital Advisors LLC NY owned 0.47% of Broadstone Net Lease worth $16,915,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Evermay Wealth Management LLC raised its position in shares of Broadstone Net Lease by 1.2% during the 2nd quarter. Evermay Wealth Management LLC now owns 48,509 shares of the company’s stock valued at $774,000 after acquiring an additional 579 shares during the last quarter. Xponance Inc. boosted its holdings in Broadstone Net Lease by 5.1% during the second quarter. Xponance Inc. now owns 11,922 shares of the company’s stock worth $189,000 after buying an additional 580 shares during the last quarter. Cerity Partners LLC grew its position in shares of Broadstone Net Lease by 2.2% during the 3rd quarter. Cerity Partners LLC now owns 40,480 shares of the company’s stock worth $767,000 after buying an additional 886 shares during the period. Strategic Advocates LLC boosted its stake in Broadstone Net Lease by 4.1% during the 2nd quarter. Strategic Advocates LLC now owns 24,116 shares of the company’s stock worth $383,000 after acquiring an additional 953 shares during the last quarter. Finally, HB Wealth Management LLC increased its stake in Broadstone Net Lease by 4.8% in the second quarter. HB Wealth Management LLC now owns 21,178 shares of the company’s stock valued at $336,000 after purchasing an additional 967 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Truist Financial boosted their price target on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a report on Friday, August 16th. Wedbush began coverage on Broadstone Net Lease in a report on Monday, August 19th. They issued an “outperform” rating and a $20.00 price target for the company. UBS Group initiated coverage on Broadstone Net Lease in a report on Thursday, November 14th. They set a “neutral” rating and a $18.00 price objective on the stock. Finally, The Goldman Sachs Group increased their target price on Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a research note on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $18.20.

Broadstone Net Lease Trading Down 0.1 %

Shares of BNL opened at $17.51 on Friday. Broadstone Net Lease, Inc. has a 12 month low of $14.20 and a 12 month high of $19.15. The firm has a fifty day simple moving average of $17.94 and a 200 day simple moving average of $17.19. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of 23.04 and a beta of 1.12.

Broadstone Net Lease (NYSE:BNL) last released its earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.47%. The company had revenue of $108.40 million during the quarter, compared to analyst estimates of $106.47 million. During the same period in the prior year, the firm posted $0.36 EPS. As a group, research analysts predict that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.29 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 annualized dividend and a dividend yield of 6.62%. Broadstone Net Lease’s dividend payout ratio is presently 152.63%.

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.