20,237 Shares in Broadstone Net Lease, Inc. (NYSE:BNL) Acquired by Aigen Investment Management LP

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 position in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 20,237 shares of the company's stock, valued at approximately $345,000.

Other large investors also recently bought and sold shares of the company. Federated Hermes Inc. raised its holdings in Broadstone Net Lease by 73,833.3% in the 4th quarter. Federated Hermes Inc. now owns 2,218 shares of the company's stock worth $35,000 after purchasing an additional 2,215 shares during the period. Tower Research Capital LLC TRC raised its holdings in Broadstone Net Lease by 192.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,914 shares of the company's stock worth $46,000 after purchasing an additional 1,918 shares during the period. GF Fund Management CO. LTD. acquired a new position in Broadstone Net Lease in the 4th quarter worth about $54,000. Quarry LP acquired a new position in Broadstone Net Lease in the 4th quarter worth about $57,000. Finally, Sterling Capital Management LLC raised its holdings in Broadstone Net Lease by 807.5% in the 4th quarter. Sterling Capital Management LLC now owns 5,944 shares of the company's stock worth $94,000 after purchasing an additional 5,289 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Broadstone Net Lease Stock Performance

Shares of BNL stock traded up $0.04 during trading hours on Friday, reaching $16.75. The company had a trading volume of 1,183,411 shares, compared to its average volume of 1,409,387. The stock has a fifty day moving average of $16.23 and a 200-day moving average of $16.16. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 32.21 and a beta of 1.00. Broadstone Net Lease, Inc. has a 12-month low of $13.96 and a 12-month high of $19.15.

Broadstone Net Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given 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 6.9%. Broadstone Net Lease's dividend payout ratio is 223.08%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BNL shares. Wolfe Research upgraded 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 upgraded Broadstone Net Lease from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Truist Financial boosted their price objective on Broadstone Net Lease from $17.00 to $18.00 and gave the stock a "hold" rating in a research note on Monday, May 5th. JMP Securities reiterated 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. Finally, UBS Group boosted 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. One 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $18.71.

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.