Canandaigua National Trust Co of Florida Invests $1.14 Million in Broadstone Net Lease, Inc. (NYSE:BNL)

Canandaigua National Trust Co of Florida purchased a new stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 72,088 shares of the company’s stock, valued at approximately $1,143,000. Broadstone Net Lease comprises 0.9% of Canandaigua National Trust Co of Florida’s holdings, making the stock its 25th biggest holding.

Several other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in Broadstone Net Lease by 257.5% in the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $33,000 after acquiring an additional 1,272 shares in the last quarter. Quarry LP lifted its stake in shares of Broadstone Net Lease by 93.1% in the 2nd quarter. Quarry LP now owns 2,556 shares of the company’s stock valued at $41,000 after purchasing an additional 1,232 shares during the period. Blue Trust Inc. grew its stake in Broadstone Net Lease by 156.5% in the third quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock worth $74,000 after purchasing an additional 2,381 shares during the period. US Bancorp DE raised its holdings in Broadstone Net Lease by 636.6% in the third quarter. US Bancorp DE now owns 3,941 shares of the company’s stock worth $75,000 after purchasing an additional 3,406 shares in the last quarter. Finally, KBC Group NV lifted its position in Broadstone Net Lease by 29.4% during the third 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 period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Trading Down 1.1 %

BNL stock traded down $0.18 on Monday, hitting $15.67. The company had a trading volume of 962,877 shares, compared to its average volume of 795,543. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 20.62 and a beta of 1.11. The stock’s 50-day simple moving average is $16.97 and its 200 day simple moving average is $17.42. 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 data on Wednesday, October 30th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The firm had revenue of $108.40 million for the quarter, compared to analysts’ expectations of $106.47 million. Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.47%. During the same quarter last year, the company posted $0.36 EPS. Research analysts forecast that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current year.

Broadstone Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.29 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a yield of 7.40%. Broadstone Net Lease’s dividend payout ratio is currently 152.63%.

Analysts Set New Price Targets

BNL has been the topic of several research reports. UBS Group initiated coverage on shares of Broadstone Net Lease in a research note on Thursday, November 14th. They set a “neutral” rating and a $18.00 price objective on the stock. The Goldman Sachs Group raised their price objective on Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a research report on Friday, September 13th. JMP Securities raised Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Tuesday, December 17th. Finally, Citizens Jmp raised Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company 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.