56,338 Shares in Broadstone Net Lease, Inc. $BNL Bought by AlTi Global Inc.

Key Points

• AlTi Global Inc. invested approximately $976,000 in Broadstone Net Lease, Inc. during the 1st quarter, acquiring 56,338 shares of the company's stock.
• Broadstone Net Lease has announced a quarterly dividend of $0.29, with an annualized dividend yield of 6.2%, set to be paid on October 15th.
• Recent analyst upgrades have led to a target price increase for Broadstone Net Lease, with Goldman Sachs raising it to $21.00 and others targeting prices between $19.00 and $20.00.

AlTi Global Inc. acquired a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 56,338 shares of the company's stock, valued at approximately $976,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BNL. Nuveen LLC acquired a new position in shares of Broadstone Net Lease during the first quarter worth about $28,127,000. Van Lanschot Kempen Investment Management N.V. acquired a new position in shares of Broadstone Net Lease during the first quarter worth about $11,646,000. Allianz Asset Management GmbH grew its position in shares of Broadstone Net Lease by 87.3% during the first quarter. Allianz Asset Management GmbH now owns 1,288,892 shares of the company's stock worth $21,963,000 after buying an additional 600,633 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new position in shares of Broadstone Net Lease during the fourth quarter worth about $7,771,000. Finally, Boston Partners acquired a new position in shares of Broadstone Net Lease during the first quarter worth about $8,071,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Broadstone Net Lease Stock Performance

NYSE BNL traded down $0.05 on Tuesday, reaching $18.49. The stock had a trading volume of 304,181 shares, compared to its average volume of 1,477,561. Broadstone Net Lease, Inc. has a 12-month low of $13.96 and a 12-month high of $19.15. The business's 50-day moving average price is $16.84 and its 200 day moving average price is $16.45. The stock has a market cap of $3.50 billion, a P/E ratio of 35.57 and a beta of 1.01.

Broadstone Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a $0.29 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.16 dividend on an annualized basis and a yield of 6.3%. Broadstone Net Lease's payout ratio is currently 223.08%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BNL shares. 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 report on Friday, August 15th. The Goldman Sachs Group raised Broadstone Net Lease from a "sell" rating to a "buy" rating and set a $21.00 price target for the company in a report on Thursday, August 21st. Wall Street Zen downgraded Broadstone Net Lease from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. KeyCorp raised Broadstone Net Lease from a "sector weight" rating to an "overweight" rating and set a $20.00 price target for the company in a report on Tuesday, August 19th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $21.00 price target on shares of Broadstone Net Lease in a report on Monday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $19.43.

Broadstone Net Lease 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.