MQS Management LLC Takes Position in Broadstone Net Lease, Inc. (NYSE:BNL)

MQS Management LLC purchased a new stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 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 portfolio, making the stock its 13th biggest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. AlphaQuest LLC acquired a new position in shares of Broadstone Net Lease during the fourth quarter valued at $417,000. PNC Financial Services Group Inc. lifted its holdings in Broadstone Net Lease by 58.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,842 shares of the company’s stock worth $172,000 after purchasing an additional 4,017 shares during the period. Edgestream Partners L.P. acquired a new stake in Broadstone Net Lease in the fourth quarter worth about $4,481,000. Ashton Thomas Private Wealth LLC acquired a new stake in Broadstone Net Lease in the fourth quarter worth about $589,000. Finally, Raymond James Financial Inc. acquired a new stake in Broadstone Net Lease in the fourth quarter worth about $4,791,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Trading Up 0.6 %

Shares of Broadstone Net Lease stock opened at $16.97 on Monday. The company’s 50-day moving average price is $15.90 and its two-hundred day moving average price is $17.12. Broadstone Net Lease, Inc. has a 52 week low of $14.20 and a 52 week high of $19.15. The stock has a market cap of $3.20 billion, a PE ratio of 19.50 and a beta of 1.09.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 EPS 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 firm had revenue of $112.13 million for the quarter, compared to analysts’ expectations of $109.80 million. On average, equities analysts predict that Broadstone Net Lease, Inc. will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 6.84%. The ex-dividend date is Monday, March 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 133.33%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in 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 objective 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 report on Tuesday, December 17th. Finally, UBS Group assumed coverage on shares of Broadstone Net Lease in a report on Thursday, November 14th. They issued a “neutral” rating and a $18.00 price objective for the company. One analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.60.

Broadstone Net Lease 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.