Aigen Investment Management LP Acquires New Holdings in Broadstone Net Lease, Inc. $BNL

Key Points

• Aigen Investment Management LP has acquired a new stake in Broadstone Net Lease, Inc., purchasing 20,237 shares valued at approximately $345,000.
• The company announced a quarterly dividend of $0.29, with a significant annualized dividend yield of 6.9%.
• Broadstone Net Lease has experienced considerable interest from institutional investors, with 89.07% of its stock currently owned by these entities.

Aigen Investment Management LP purchased a new stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,237 shares of the company's stock, valued at approximately $345,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BNL. Allianz Asset Management GmbH boosted its stake 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 valued at $21,963,000 after buying an additional 600,633 shares during the last quarter. Lighthouse Investment Partners LLC acquired a new stake in Broadstone Net Lease in the fourth quarter valued at $7,771,000. Bank of America Corp DE boosted its stake in Broadstone Net Lease by 161.0% during the 4th quarter. Bank of America Corp DE now owns 761,471 shares of the company's stock valued at $12,077,000 after acquiring an additional 469,733 shares during the last quarter. Cetera Investment Advisers bought a new position in Broadstone Net Lease during the 1st quarter valued at $7,259,000. Finally, Northern Trust Corp grew its holdings in Broadstone Net Lease by 20.0% during the 4th quarter. Northern Trust Corp now owns 2,464,544 shares of the company's stock worth $39,088,000 after acquiring an additional 410,767 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Broadstone Net Lease Stock Down 0.5%

Shares of NYSE:BNL traded down $0.08 during trading on Monday, hitting $16.70. 239,880 shares of the company traded hands, compared to its average volume of 1,449,242. The business's fifty day moving average is $16.23 and its 200-day moving average is $16.16. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 32.13 and a beta of 1.00. Broadstone Net Lease, Inc. has a one year low of $13.96 and a one year high of $19.15.

Broadstone Net Lease Dividend Announcement

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 annualized dividend and a yield of 6.9%. Broadstone Net Lease's dividend payout ratio (DPR) is currently 223.08%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BNL. Truist Financial upped 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. Wall Street Zen upgraded Broadstone Net Lease from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Wolfe Research raised Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 target price on the stock in a report on Monday, July 28th. JMP Securities reiterated a "market outperform" rating and issued a $21.00 price target on shares of Broadstone Net Lease in a report on Monday, June 2nd. Finally, UBS Group upped their price target on Broadstone Net Lease from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Broadstone Net Lease currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.71.

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.