JPL Wealth Management LLC Makes New $513,000 Investment in Broadstone Net Lease, Inc. (NYSE:BNL)

JPL Wealth Management LLC bought a new position in Broadstone Net Lease, Inc. (NYSE:BNL) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 32,358 shares of the company’s stock, valued at approximately $513,000.

A number of other hedge funds have also bought and sold shares of the business. DecisionMap Wealth Management LLC purchased a new position in Broadstone Net Lease in the 4th quarter worth about $1,296,000. Swiss National Bank raised its position in Broadstone Net Lease by 0.5% in the 4th quarter. Swiss National Bank now owns 370,800 shares of the company’s stock worth $5,881,000 after buying an additional 1,700 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Broadstone Net Lease by 139.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock worth $43,000 after buying an additional 1,592 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Broadstone Net Lease by 44.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 97,960 shares of the company’s stock worth $1,554,000 after buying an additional 30,309 shares during the last quarter. Finally, MQS Management LLC purchased a new position in Broadstone Net Lease in the 4th quarter worth about $183,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Trading Down 1.3 %

Broadstone Net Lease stock opened at $16.70 on Thursday. The firm has a 50 day moving average of $15.96 and a 200 day moving average of $17.10. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of 19.19 and a beta of 1.09. Broadstone Net Lease, Inc. has a 12-month low of $14.20 and a 12-month high of $19.15.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings results 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 return on equity of 5.10% and a net margin of 37.62%. The business had revenue of $112.13 million during the quarter, compared to the consensus estimate of $109.80 million. On average, analysts predict that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.29 per share. The ex-dividend date is Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.95%. Broadstone Net Lease’s dividend payout ratio is currently 133.33%.

Wall Street Analysts Forecast Growth

BNL has been the subject of several research reports. 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. 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 research 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 analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Broadstone Net Lease has a consensus rating of “Hold” and a consensus price target of $18.60.

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.