AlTi Global Inc. Invests $976,000 in Broadstone Net Lease, Inc. $BNL

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. purchased a new position in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 56,338 shares of the company's stock, valued at approximately $976,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Broadstone Net Lease by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 27,711,994 shares of the company's stock worth $472,212,000 after purchasing an additional 266,900 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Broadstone Net Lease by 2.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,145,709 shares of the company's stock valued at $53,603,000 after acquiring an additional 68,196 shares in the last quarter. Northern Trust Corp boosted its position 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 valued at $39,088,000 after acquiring an additional 410,767 shares in the last quarter. Nuveen LLC bought a new stake in Broadstone Net Lease during the 1st quarter valued at $28,127,000. Finally, Allianz Asset Management GmbH boosted its position in 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 acquiring an additional 600,633 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Broadstone Net Lease Price Performance

Broadstone Net Lease stock opened at $18.60 on Thursday. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 35.78 and a beta of 1.01. Broadstone Net Lease, Inc. has a 1-year low of $13.96 and a 1-year high of $19.15. The business has a fifty day moving average price of $16.69 and a 200-day moving average price of $16.38.

Broadstone Net Lease Announces Dividend

The firm also recently disclosed 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 of this dividend is Tuesday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.2%. Broadstone Net Lease's dividend payout ratio (DPR) is presently 223.08%.

Analyst Ratings Changes

BNL has been the topic of several recent research reports. KeyCorp raised Broadstone Net Lease from a "sector weight" rating to an "overweight" rating and set a $20.00 target price on the stock in a research report on Tuesday, August 19th. UBS Group increased their target price on Broadstone Net Lease from $16.00 to $17.00 and gave the company a "neutral" rating in a research 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 target price on the stock in a research report on Thursday, August 21st. JMP Securities reaffirmed a "market outperform" rating and set a $21.00 target price on shares of Broadstone Net Lease in a research report on Monday, June 2nd. Finally, 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 research report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Broadstone Net Lease currently has an average rating of "Moderate Buy" and an average target price of $19.43.

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.

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