186,014 Shares in Broadstone Net Lease, Inc. $BNL Acquired by Martingale Asset Management L P

Key Points

• Martingale Asset Management L P has acquired 186,014 shares of Broadstone Net Lease, Inc. (BNL), valued at approximately $3.17 million, representing about 0.10% ownership in the company.
• Broadstone Net Lease announced a quarterly dividend of $0.29 per share, set to be paid on October 15th, with a yield of 6.5%.
• Analyst ratings are generally positive, with the consensus rating classified as "Moderate Buy" and a target price of $19.43, indicating growth potential for the stock.

Martingale Asset Management L P acquired a new stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 186,014 shares of the company's stock, valued at approximately $3,170,000. Martingale Asset Management L P owned approximately 0.10% of Broadstone Net Lease as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in shares of Broadstone Net Lease during the 1st quarter worth approximately $28,127,000. Van Lanschot Kempen Investment Management N.V. acquired a new stake in shares of Broadstone Net Lease during the 1st quarter worth approximately $11,646,000. Allianz Asset Management GmbH raised its position in shares of Broadstone Net Lease by 87.3% during the 1st quarter. Allianz Asset Management GmbH now owns 1,288,892 shares of the company's stock worth $21,963,000 after purchasing an additional 600,633 shares during the period. Lighthouse Investment Partners LLC acquired a new stake in shares of Broadstone Net Lease during the 4th quarter worth approximately $7,771,000. Finally, Boston Partners acquired a new stake in shares of Broadstone Net Lease during the 1st quarter worth approximately $8,071,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Broadstone Net Lease Stock Performance

Shares of NYSE:BNL traded up $0.07 during midday trading on Wednesday, hitting $18.38. The company's stock had a trading volume of 268,010 shares, compared to its average volume of 1,484,049. Broadstone Net Lease, Inc. has a fifty-two week low of $13.96 and a fifty-two week high of $19.15. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of 35.32 and a beta of 1.00. The stock's 50 day simple moving average is $16.43 and its 200 day simple moving average is $16.26.

Broadstone Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 6.3%. The ex-dividend date is Tuesday, September 30th. Broadstone Net Lease's payout ratio is 223.08%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. KeyCorp raised Broadstone Net Lease from a "sector weight" rating to an "overweight" rating and set a $20.00 price target for the company in a research note on Tuesday, August 19th. UBS Group raised their price objective on Broadstone Net Lease from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Friday, August 15th. Wolfe Research raised Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 price objective for the company in a research note on Monday, July 28th. Wall Street Zen lowered Broadstone Net Lease from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Finally, JMP Securities reissued a "market outperform" rating and set a $21.00 price objective on shares of Broadstone Net Lease in a research note on Monday, June 2nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $19.43.

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.