Cascade Financial Partners LLC Has $5.71 Million Stake in Broadstone Net Lease, Inc. (NYSE:BNL)

Cascade Financial Partners LLC lessened its position in Broadstone Net Lease, Inc. (NYSE:BNL) by 4.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 359,868 shares of the company’s stock after selling 16,936 shares during the quarter. Broadstone Net Lease makes up about 0.7% of Cascade Financial Partners LLC’s portfolio, making the stock its 28th biggest position. Cascade Financial Partners LLC’s holdings in Broadstone Net Lease were worth $5,708,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of BNL. US Bancorp DE lifted its position in shares of Broadstone Net Lease by 636.6% in the third quarter. US Bancorp DE now owns 3,941 shares of the company’s stock worth $75,000 after purchasing an additional 3,406 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Broadstone Net Lease by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 32,419 shares of the company’s stock valued at $591,000 after acquiring an additional 3,558 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of Broadstone Net Lease by 10.1% in the third quarter. QRG Capital Management Inc. now owns 13,247 shares of the company’s stock valued at $251,000 after acquiring an additional 1,220 shares during the last quarter. Versor Investments LP raised its holdings in Broadstone Net Lease by 196.9% during the third quarter. Versor Investments LP now owns 38,289 shares of the company’s stock worth $726,000 after acquiring an additional 25,391 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in Broadstone Net Lease by 35.5% during the third quarter. Victory Capital Management Inc. now owns 1,454,507 shares of the company’s stock valued at $27,563,000 after purchasing an additional 380,772 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

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

Broadstone Net Lease Price Performance

BNL opened at $16.94 on Wednesday. The business has a fifty day simple moving average of $15.95 and a 200 day simple moving average of $17.10. Broadstone Net Lease, Inc. has a 1 year low of $14.20 and a 1 year high of $19.15. The company has a market capitalization of $3.20 billion, a PE ratio of 19.47 and a beta of 1.09.

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

Broadstone Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.29 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.16 annualized dividend and a yield of 6.85%. Broadstone Net Lease’s dividend payout ratio is presently 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.