Hsbc Holdings PLC Trims Stock Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Hsbc Holdings PLC reduced its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 8.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 839,101 shares of the company’s stock after selling 79,866 shares during the period. Hsbc Holdings PLC owned approximately 0.45% of Broadstone Net Lease worth $13,307,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of BNL. State of Alaska Department of Revenue grew its stake in shares of Broadstone Net Lease by 1.0% during the 4th quarter. State of Alaska Department of Revenue now owns 90,318 shares of the company’s stock worth $1,432,000 after purchasing an additional 882 shares during the period. Rockefeller Capital Management L.P. raised its position in shares of Broadstone Net Lease by 3.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 23,826 shares of the company’s stock worth $378,000 after acquiring an additional 892 shares during the period. Corient Private Wealth LLC boosted its stake in shares of Broadstone Net Lease by 2.2% during the 4th quarter. Corient Private Wealth LLC now owns 41,892 shares of the company’s stock worth $664,000 after acquiring an additional 907 shares in the last quarter. Blue Trust Inc. boosted its position in Broadstone Net Lease by 23.7% during the fourth quarter. Blue Trust Inc. now owns 4,827 shares of the company’s stock worth $77,000 after purchasing an additional 925 shares in the last quarter. Finally, Stifel Financial Corp grew its holdings in Broadstone Net Lease by 6.5% in the third quarter. Stifel Financial Corp now owns 15,470 shares of the company’s stock valued at $293,000 after purchasing an additional 939 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets set a $20.00 target price on Broadstone Net Lease and gave the company an “outperform” rating in a research report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Broadstone Net Lease presently has an average rating of “Moderate Buy” and a consensus target price of $18.83.

Broadstone Net Lease Price Performance

NYSE BNL opened at $15.93 on Monday. The stock’s 50 day simple moving average is $16.38 and its 200-day simple moving average is $16.58. The company has a market cap of $3.01 billion, a PE ratio of 18.31 and a beta of 1.03. Broadstone Net Lease, Inc. has a 1-year low of $13.96 and a 1-year high of $19.15.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.36 earnings per share 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 for the quarter, compared to analyst estimates of $109.80 million. On average, equities research analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.29 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a yield of 7.28%. Broadstone Net Lease’s payout ratio is 133.33%.

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.