Broadstone Net Lease (NYSE:BNL) Sees Strong Trading Volume – Here’s What Happened

Shares of Broadstone Net Lease, Inc. (NYSE:BNL) saw an uptick in trading volume on Tuesday . 1,832,982 shares changed hands during trading, an increase of 73% from the previous session’s volume of 1,058,968 shares.The stock last traded at $16.94 and had previously closed at $17.20.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. JMP Securities raised shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Tuesday, December 17th. Citizens Jmp raised shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $18.60.

Broadstone Net Lease Trading Down 2.2 %

The company has a market cap of $3.18 billion, a P/E ratio of 19.33 and a beta of 1.09. The firm’s fifty day moving average price is $16.20 and its 200-day moving average price is $17.02.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.16. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. The company had revenue of $112.13 million during the quarter, compared to analysts’ expectations of $109.80 million. As a group, research analysts forecast 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 declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.16 annualized dividend and a dividend yield of 6.90%. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 133.33%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Fairtree Asset Management Pty Ltd bought a new position in shares of Broadstone Net Lease in the 4th quarter valued at about $413,000. Wealth Enhancement Advisory Services LLC boosted its stake in Broadstone Net Lease by 1.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 362,398 shares of the company’s stock valued at $5,748,000 after acquiring an additional 4,523 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in Broadstone Net Lease in the fourth quarter valued at approximately $54,000. PharVision Advisers LLC acquired a new stake in Broadstone Net Lease during the 4th quarter worth $229,000. Finally, Zimmer Partners LP raised its position in shares of Broadstone Net Lease by 550.0% during the 4th quarter. Zimmer Partners LP now owns 325,000 shares of the company’s stock valued at $5,154,000 after acquiring an additional 275,000 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

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.