MQS Management LLC Makes New Investment in Broadstone Net Lease, Inc. (NYSE:BNL)

MQS Management LLC acquired a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 11,554 shares of the company’s stock, valued at approximately $183,000. Broadstone Net Lease accounts for approximately 5.2% of MQS Management LLC’s holdings, making the stock its 13th largest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Natixis Advisors LLC raised its holdings in Broadstone Net Lease by 63.2% during the 3rd quarter. Natixis Advisors LLC now owns 114,272 shares of the company’s stock worth $2,165,000 after buying an additional 44,264 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Broadstone Net Lease by 30.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 466,782 shares of the company’s stock valued at $7,403,000 after purchasing an additional 108,907 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Broadstone Net Lease by 79.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 44,955 shares of the company’s stock valued at $705,000 after purchasing an additional 19,839 shares during the period. Meritage Portfolio Management acquired a new position in shares of Broadstone Net Lease in the 3rd quarter valued at about $5,610,000. Finally, Intech Investment Management LLC acquired a new position in shares of Broadstone Net Lease in the 3rd quarter valued at about $633,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

BNL has been the topic of a number of research reports. UBS Group initiated coverage on Broadstone Net Lease in a report on Thursday, November 14th. They issued a “neutral” rating and a $18.00 target price on the stock. Citizens Jmp upgraded Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Finally, JMP Securities upgraded 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $18.60.

Broadstone Net Lease Stock Performance

Shares of NYSE BNL opened at $16.97 on Monday. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 19.50 and a beta of 1.09. The business has a 50 day simple moving average of $15.90 and a 200 day simple moving average of $17.12. Broadstone Net Lease, Inc. has a 52 week low of $14.20 and a 52 week high of $19.15.

Broadstone Net Lease (NYSE:BNL) last announced 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 during the quarter, compared to analysts’ expectations of $109.80 million. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. On average, analysts predict that Broadstone Net Lease, Inc. will post 1.43 EPS 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. Shareholders of record on Monday, March 31st will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a yield of 6.84%. Broadstone Net Lease’s payout ratio is currently 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.