Y Intercept Hong Kong Ltd Acquires Shares of 110,491 Broadstone Net Lease, Inc. (NYSE:BNL)

Y Intercept Hong Kong Ltd acquired a new stake in Broadstone Net Lease, Inc. (NYSE:BNL) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 110,491 shares of the company’s stock, valued at approximately $1,752,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB increased its position in Broadstone Net Lease by 8.8% in the 4th quarter. Handelsbanken Fonder AB now owns 68,200 shares of the company’s stock valued at $1,082,000 after acquiring an additional 5,500 shares in the last quarter. Kestra Investment Management LLC increased its position in Broadstone Net Lease by 71.2% in the 4th quarter. Kestra Investment Management LLC now owns 51,862 shares of the company’s stock valued at $823,000 after acquiring an additional 21,577 shares in the last quarter. D.A. Davidson & CO. increased its position in Broadstone Net Lease by 2.5% in the 4th quarter. D.A. Davidson & CO. now owns 78,646 shares of the company’s stock valued at $1,247,000 after acquiring an additional 1,932 shares in the last quarter. Principal Financial Group Inc. increased its position 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 valued at $226,423,000 after acquiring an additional 227,833 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in Broadstone Net Lease by 14.7% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 123,118 shares of the company’s stock valued at $1,953,000 after acquiring an additional 15,782 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. UBS Group assumed coverage on shares of Broadstone Net Lease in a research report on Thursday, November 14th. They issued a “neutral” rating and a $18.00 price objective for the company. 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 research note on Tuesday, December 17th. Finally, Citizens Jmp raised 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 given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Broadstone Net Lease currently has an average rating of “Hold” and a consensus target price of $18.60.

Broadstone Net Lease Trading Up 1.9 %

Shares of NYSE BNL opened at $16.53 on Wednesday. The firm’s 50-day moving average is $15.78 and its 200-day moving average is $17.15. Broadstone Net Lease, Inc. has a 1 year low of $14.20 and a 1 year high of $19.15. The firm has a market capitalization of $3.12 billion, a PE ratio of 19.00 and a beta of 1.11.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.36 earnings per share 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 business had revenue of $112.13 million for the quarter, compared to analyst estimates of $109.80 million. As a group, equities research 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 7.02%. The ex-dividend date of this dividend is Monday, March 31st. Broadstone Net Lease’s payout ratio is 133.33%.

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.