Intech Investment Management LLC Has $1.77 Million Stock Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Intech Investment Management LLC raised its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 234.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 111,588 shares of the company’s stock after buying an additional 78,205 shares during the period. Intech Investment Management LLC’s holdings in Broadstone Net Lease were worth $1,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. KBC Group NV grew its stake in Broadstone Net Lease by 29.4% in the 3rd quarter. KBC Group NV now owns 6,220 shares of the company’s stock valued at $118,000 after buying an additional 1,413 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of Broadstone Net Lease by 63.2% during the third quarter. Natixis Advisors LLC now owns 114,272 shares of the company’s stock worth $2,165,000 after acquiring an additional 44,264 shares during the period. Thrivent Financial for Lutherans acquired a new position in shares of Broadstone Net Lease in the third quarter valued at approximately $3,186,000. Pathstone Holdings LLC increased its stake in shares of Broadstone Net Lease by 30.6% during the third quarter. Pathstone Holdings LLC now owns 95,977 shares of the company’s stock worth $1,819,000 after purchasing an additional 22,461 shares during the period. Finally, Segall Bryant & Hamill LLC acquired a new stake in Broadstone Net Lease during the 3rd quarter worth approximately $3,691,000. 89.07% of the stock is owned by institutional investors.

Broadstone Net Lease Price Performance

Broadstone Net Lease stock opened at $17.19 on Friday. The firm has a market cap of $3.25 billion, a PE ratio of 19.76 and a beta of 1.09. The stock’s fifty day moving average price is $16.13 and its two-hundred day moving average price is $17.05. Broadstone Net Lease, Inc. has a one year low of $14.21 and a one year high of $19.15.

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 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 for the quarter, compared to analysts’ expectations of $109.80 million. Sell-side analysts expect that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal 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 $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 6.75%. The ex-dividend date is Monday, March 31st. Broadstone Net Lease’s payout ratio is presently 133.33%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. JMP Securities raised Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a report on Tuesday, December 17th. Citizens Jmp upgraded shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Broadstone Net Lease presently has an average rating of “Hold” and an average target price 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.