Cetera Investment Advisers Takes $7.26 Million Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Key Points

• Cetera Investment Advisers acquired 426,002 shares of Broadstone Net Lease, Inc. valued at approximately $7.26 million, representing about 0.23% of the company's stock.
• Analysts have mixed outlooks on Broadstone Net Lease, with price targets ranging from $16.00 to $21.00, and a consensus rating of "Hold" despite varying predictions among research firms.
• The company declared a quarterly dividend of $0.29, reflecting a dividend yield of 7.1%, with the next payment scheduled for October 15th.

Cetera Investment Advisers acquired a new stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 426,002 shares of the company's stock, valued at approximately $7,259,000. Cetera Investment Advisers owned approximately 0.23% of Broadstone Net Lease at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in Broadstone Net Lease by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 4,860,444 shares of the company's stock valued at $77,103,000 after acquiring an additional 15,501 shares in the last quarter. Centersquare Investment Management LLC increased its position in Broadstone Net Lease by 7.1% in the 4th quarter. Centersquare Investment Management LLC now owns 4,011,419 shares of the company's stock valued at $63,621,000 after acquiring an additional 265,428 shares in the last quarter. Northern Trust Corp increased its position in Broadstone Net Lease by 20.0% in the 4th quarter. Northern Trust Corp now owns 2,464,544 shares of the company's stock valued at $39,088,000 after acquiring an additional 410,767 shares in the last quarter. Norges Bank acquired a new stake in Broadstone Net Lease in the 4th quarter valued at about $36,170,000. Finally, JPMorgan Chase & Co. increased its position in Broadstone Net Lease by 16.1% in the 4th quarter. JPMorgan Chase & Co. now owns 2,129,196 shares of the company's stock valued at $33,769,000 after acquiring an additional 294,783 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Broadstone Net Lease Stock Performance

BNL stock remained flat at $16.24 during mid-day trading on Friday. 1,611,193 shares of the company's stock traded hands, compared to its average volume of 1,281,443. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 31.23 and a beta of 1.00. The business has a fifty day simple moving average of $16.06 and a 200 day simple moving average of $16.10. Broadstone Net Lease, Inc. has a 52-week low of $13.96 and a 52-week high of $19.15.

Broadstone Net Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.29 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.1%. Broadstone Net Lease's dividend payout ratio (DPR) is 223.08%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BNL. JMP Securities reaffirmed a "market outperform" rating and issued a $21.00 target price on shares of Broadstone Net Lease in a research note on Monday, June 2nd. UBS Group reduced their target price on shares of Broadstone Net Lease from $17.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 16th. Wall Street Zen raised shares of Broadstone Net Lease from a "sell" rating to a "hold" rating in a research note on Sunday. Truist Financial raised their target price on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the company a "hold" rating in a research note on Monday, May 5th. Finally, Wolfe Research raised shares of Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 target price on the stock in a research note on Monday, July 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $18.57.

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.