Courier Capital LLC Sells 17,025 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Courier Capital LLC reduced its position in Broadstone Net Lease, Inc. (NYSE:BNL) by 19.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 70,485 shares of the company’s stock after selling 17,025 shares during the period. Courier Capital LLC’s holdings in Broadstone Net Lease were worth $1,118,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BNL. Wealth Enhancement Advisory Services LLC increased its stake in shares of Broadstone Net Lease by 30.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 466,782 shares of the company’s stock worth $7,403,000 after purchasing an additional 108,907 shares in the last quarter. Canandaigua National Trust Co of Florida bought a new position in Broadstone Net Lease in the 4th quarter worth approximately $1,143,000. JPMorgan Chase & Co. grew its stake in Broadstone Net Lease by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,834,413 shares of the company’s stock valued at $34,762,000 after buying an additional 84,509 shares in the last quarter. Franklin Resources Inc. raised its holdings in Broadstone Net Lease by 66.8% during the 3rd quarter. Franklin Resources Inc. now owns 574,124 shares of the company’s stock valued at $10,512,000 after acquiring an additional 229,874 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Broadstone Net Lease by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,844,943 shares of the company’s stock valued at $91,827,000 after acquiring an additional 62,515 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BNL. Citizens Jmp raised Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. UBS Group started coverage on Broadstone Net Lease in a report on Thursday, November 14th. They set a “neutral” rating and a $18.00 target price for the company. Finally, JMP Securities upgraded Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Broadstone Net Lease has an average rating of “Hold” and a consensus price target of $18.60.

Broadstone Net Lease Stock Up 0.7 %

Shares of NYSE BNL opened at $15.30 on Tuesday. The stock’s 50-day simple moving average is $16.69 and its two-hundred day simple moving average is $17.41. Broadstone Net Lease, Inc. has a twelve month low of $14.20 and a twelve month high of $19.15. The firm has a market capitalization of $2.88 billion, a P/E ratio of 20.13 and a beta of 1.11.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.15). Broadstone Net Lease had a return on equity of 4.47% and a net margin of 33.56%. The company had revenue of $108.40 million during the quarter, compared to the consensus estimate of $106.47 million. During the same quarter last year, the company posted $0.36 earnings per share. As a group, research analysts anticipate that Broadstone Net Lease, Inc. will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.58%. The ex-dividend date is Tuesday, December 31st. Broadstone Net Lease’s dividend payout ratio is currently 152.63%.

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.