60,148 Shares in Broadstone Net Lease, Inc. $BNL Bought by Canandaigua National Trust Co of Florida

Key Points

• Canandaigua National Trust Co of Florida has acquired 60,148 shares of Broadstone Net Lease, Inc. ($BNL), amounting to a value of approximately $965,000.
• Broadstone Net Lease announced a quarterly dividend of $0.29, to be paid on October 15th, representing an annual yield of 6.2%.
• Wall Street analysts have mixed opinions on BNL, with ratings ranging from sell to buy, and an average price target set at $19.43.

Canandaigua National Trust Co of Florida purchased a new position in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 60,148 shares of the company's stock, valued at approximately $965,000.

A number of other large investors have also modified their holdings of BNL. GF Fund Management CO. LTD. purchased a new stake in shares of Broadstone Net Lease during the fourth quarter worth $54,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Broadstone Net Lease during the first quarter worth $115,000. KBC Group NV grew its holdings in shares of Broadstone Net Lease by 15.1% during the first quarter. KBC Group NV now owns 9,094 shares of the company's stock worth $155,000 after buying an additional 1,193 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in shares of Broadstone Net Lease during the fourth quarter worth $183,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Broadstone Net Lease during the fourth quarter worth $198,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Broadstone Net Lease Price Performance

NYSE BNL opened at $18.79 on Monday. The firm's 50-day moving average is $17.03 and its two-hundred day moving average is $16.51. Broadstone Net Lease, Inc. has a 12 month low of $13.96 and a 12 month high of $19.15. The stock has a market capitalization of $3.55 billion, a P/E ratio of 36.13 and a beta of 1.01.

Broadstone Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.16 dividend on an annualized basis and a yield of 6.2%. Broadstone Net Lease's dividend payout ratio is presently 223.08%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BNL. Wall Street Zen lowered shares of Broadstone Net Lease from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. JMP Securities reissued a "market outperform" rating and set a $21.00 price target on shares of Broadstone Net Lease in a research report on Monday, June 2nd. The Goldman Sachs Group raised shares of Broadstone Net Lease from a "sell" rating to a "buy" rating and set a $21.00 price target on the stock in a research report on Thursday, August 21st. Wolfe Research raised shares of Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 price target on the stock in a research report on Monday, July 28th. Finally, UBS Group boosted their price target on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $19.43.

About Broadstone Net Lease

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.

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