Allianz Asset Management GmbH lifted its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 87.3% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,288,892 shares of the company's stock after buying an additional 600,633 shares during the period. Allianz Asset Management GmbH owned about 0.68% of Broadstone Net Lease worth $21,963,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the business. Ritholtz Wealth Management raised its holdings in shares of Broadstone Net Lease by 2.8% during the 1st quarter. Ritholtz Wealth Management now owns 24,939 shares of the company's stock worth $425,000 after buying an additional 673 shares in the last quarter. Xponance Inc. raised its holdings in shares of Broadstone Net Lease by 5.3% during the 1st quarter. Xponance Inc. now owns 14,298 shares of the company's stock worth $244,000 after buying an additional 721 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of Broadstone Net Lease by 3.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 23,826 shares of the company's stock worth $378,000 after buying an additional 892 shares in the last quarter. Corient Private Wealth LLC raised its holdings in shares of Broadstone Net Lease by 2.2% during the 4th quarter. Corient Private Wealth LLC now owns 41,892 shares of the company's stock worth $664,000 after buying an additional 907 shares in the last quarter. Finally, Summit Investment Advisors Inc. raised its holdings in shares of Broadstone Net Lease by 5.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 19,735 shares of the company's stock worth $313,000 after buying an additional 975 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.
Broadstone Net Lease Stock Performance
Shares of BNL stock traded up $0.05 on Monday, hitting $15.93. The company had a trading volume of 197,565 shares, compared to its average volume of 1,438,109. The firm has a market cap of $3.01 billion, a P/E ratio of 26.12 and a beta of 1.00. The stock's 50-day moving average is $16.02 and its two-hundred day moving average is $16.09. Broadstone Net Lease, Inc. has a twelve month low of $13.96 and a twelve month high of $19.15.
Broadstone Net Lease Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $0.29 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.16 annualized dividend and a dividend yield of 7.28%. Broadstone Net Lease's payout ratio is 190.16%.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on BNL. Truist Financial boosted their price target on Broadstone Net Lease from $17.00 to $18.00 and gave the stock a "hold" rating in a report on Monday, May 5th. UBS Group lowered their target price on Broadstone Net Lease from $17.00 to $16.00 and set a "neutral" rating for the company in a report on Wednesday, July 16th. JMP Securities reaffirmed a "market outperform" rating and issued a $21.00 target price on shares of Broadstone Net Lease in a report on Monday, June 2nd. Wolfe Research raised Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 target price for the company in a report on Monday. Finally, Wall Street Zen cut Broadstone Net Lease from a "hold" rating to a "sell" rating in a report on Saturday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Broadstone Net Lease has an average rating of "Hold" and a consensus price target of $18.57.
View Our Latest Report on BNL
Broadstone Net Lease Profile
(
Free Report)
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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