Metis Global Partners LLC Buys 2,208 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Metis Global Partners LLC increased its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 11.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,621 shares of the company’s stock after purchasing an additional 2,208 shares during the quarter. Metis Global Partners LLC’s holdings in Broadstone Net Lease were worth $343,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in Broadstone Net Lease by 1.6% during the 4th quarter. Principal Financial Group Inc. now owns 14,276,250 shares of the company’s stock valued at $226,423,000 after acquiring an additional 227,833 shares during the period. Geode Capital Management LLC raised its holdings in Broadstone Net Lease by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,844,943 shares of the company’s stock valued at $91,827,000 after acquiring an additional 62,515 shares during the period. JPMorgan Chase & Co. raised its holdings in Broadstone Net Lease by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,834,413 shares of the company’s stock valued at $34,762,000 after acquiring an additional 84,509 shares during the period. Bank of New York Mellon Corp raised its holdings in Broadstone Net Lease by 15.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,820,961 shares of the company’s stock valued at $28,880,000 after acquiring an additional 237,083 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Broadstone Net Lease by 35.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,454,507 shares of the company’s stock valued at $27,563,000 after acquiring an additional 380,772 shares during the period. Institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Citizens Jmp raised 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 target price on the stock in a report on Tuesday, December 17th. Finally, UBS Group initiated coverage on shares of Broadstone Net Lease in a research report on Thursday, November 14th. They set a “neutral” rating and a $18.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Broadstone Net Lease currently has a consensus rating of “Hold” and an average target price of $18.60.

Broadstone Net Lease Price Performance

BNL opened at $16.86 on Thursday. Broadstone Net Lease, Inc. has a one year low of $14.20 and a one year high of $19.15. The company has a fifty day moving average price of $15.85 and a 200-day moving average price of $17.13. The firm has a market capitalization of $3.18 billion, a P/E ratio of 19.37 and a beta of 1.09.

Broadstone Net Lease (NYSE:BNL) last announced its earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $112.13 million during the quarter, compared to analyst estimates of $109.80 million. On average, analysts expect 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 announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.29 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.16 annualized dividend and a yield of 6.88%. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 133.33%.

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.