Ameriprise Financial Inc. Decreases Stake in Broadstone Net Lease, Inc. (NYSE:BNL)

Ameriprise Financial Inc. decreased its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 8.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 272,020 shares of the company's stock after selling 26,737 shares during the period. Ameriprise Financial Inc. owned approximately 0.14% of Broadstone Net Lease worth $4,315,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC raised its stake in shares of Broadstone Net Lease by 131.1% during the 3rd quarter. Barclays PLC now owns 318,142 shares of the company's stock worth $6,028,000 after buying an additional 180,456 shares during the period. Tallon Kerry Patrick acquired a new position in shares of Broadstone Net Lease during the 4th quarter worth approximately $4,669,000. Blue Trust Inc. raised its stake in Broadstone Net Lease by 23.7% in the 4th quarter. Blue Trust Inc. now owns 4,827 shares of the company's stock valued at $77,000 after purchasing an additional 925 shares during the last quarter. KBC Group NV raised its stake in Broadstone Net Lease by 27.0% in the 4th quarter. KBC Group NV now owns 7,901 shares of the company's stock valued at $125,000 after purchasing an additional 1,681 shares during the last quarter. Finally, North Point Portfolio Managers Corp OH acquired a new position in Broadstone Net Lease in the 4th quarter valued at $405,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Broadstone Net Lease Stock Up 0.9%

NYSE:BNL traded up $0.15 during midday trading on Thursday, reaching $15.91. The stock had a trading volume of 655,895 shares, compared to its average volume of 1,231,936. The firm has a fifty day simple moving average of $16.02 and a two-hundred day simple moving average of $16.26. Broadstone Net Lease, Inc. has a 12-month low of $13.96 and a 12-month high of $19.15. The stock has a market cap of $3.01 billion, a P/E ratio of 18.28 and a beta of 1.04.

Broadstone Net Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $0.29 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.16 dividend on an annualized basis and a yield of 7.29%. Broadstone Net Lease's dividend payout ratio (DPR) is 190.16%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Truist Financial increased their price objective on Broadstone Net Lease from $17.00 to $18.00 and gave the company a "hold" rating in a research note on Monday, May 5th. JMP Securities restated a "market outperform" rating and issued a $21.00 target price on shares of Broadstone Net Lease in a report on Monday, May 5th. UBS Group dropped their target price on Broadstone Net Lease from $18.00 to $17.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Finally, BMO Capital Markets set a $20.00 price target on Broadstone Net Lease and gave the stock an "outperform" rating in a report on Monday, March 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $18.67.

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.