Bleakley Financial Group LLC purchased a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 32,151 shares of the company's stock, valued at approximately $548,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of Broadstone Net Lease by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 4,860,444 shares of the company's stock valued at $77,103,000 after buying an additional 15,501 shares during the period. Centersquare Investment Management LLC raised its stake in Broadstone Net Lease by 7.1% during the fourth quarter. Centersquare Investment Management LLC now owns 4,011,419 shares of the company's stock worth $63,621,000 after purchasing an additional 265,428 shares during the period. Northern Trust Corp raised its stake in Broadstone Net Lease by 20.0% during the fourth quarter. Northern Trust Corp now owns 2,464,544 shares of the company's stock worth $39,088,000 after purchasing an additional 410,767 shares during the period. Norges Bank purchased a new position in Broadstone Net Lease during the fourth quarter worth approximately $36,170,000. Finally, JPMorgan Chase & Co. raised its stake in Broadstone Net Lease by 16.1% during the fourth quarter. JPMorgan Chase & Co. now owns 2,129,196 shares of the company's stock worth $33,769,000 after purchasing an additional 294,783 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.
Broadstone Net Lease Price Performance
BNL traded up $0.03 on Friday, reaching $15.78. 1,732,696 shares of the company traded hands, compared to its average volume of 1,297,872. The stock's 50 day moving average price is $16.05 and its 200-day moving average price is $16.07. Broadstone Net Lease, Inc. has a 52-week low of $13.96 and a 52-week high of $19.15. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 25.87 and a beta of 1.00.
Broadstone Net Lease Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 7.35%. The ex-dividend date was Monday, June 30th. Broadstone Net Lease's dividend payout ratio is 190.16%.
Analyst Ratings Changes
BNL has been the subject of several recent research reports. JMP Securities reissued a "market outperform" rating and issued a $21.00 price objective on shares of Broadstone Net Lease in a research report on Monday, June 2nd. Truist Financial lifted their price target on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the company a "hold" rating in a report on Monday, May 5th. UBS Group decreased their price target on shares of Broadstone Net Lease from $17.00 to $16.00 and set a "neutral" rating for the company in a report on Wednesday. Finally, BMO Capital Markets set a $20.00 price objective on shares of Broadstone Net Lease and gave the company an "outperform" rating in a research report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $18.50.
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About Broadstone Net Lease
(
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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