BNP Paribas Financial Markets Buys New Position in Broadstone Net Lease, Inc. (NYSE:BNL)

BNP Paribas Financial Markets purchased a new stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,392 shares of the company's stock, valued at approximately $355,000.

Several other hedge funds also recently added to or reduced their stakes in BNL. Federated Hermes Inc. grew its position in shares of Broadstone Net Lease by 73,833.3% during the fourth quarter. Federated Hermes Inc. now owns 2,218 shares of the company's stock worth $35,000 after acquiring an additional 2,215 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Broadstone Net Lease by 139.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company's stock worth $43,000 after purchasing an additional 1,592 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Broadstone Net Lease by 192.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,914 shares of the company's stock worth $46,000 after purchasing an additional 1,918 shares during the period. Quarry LP acquired a new stake in shares of Broadstone Net Lease during the fourth quarter worth $57,000. Finally, Assetmark Inc. lifted its holdings in shares of Broadstone Net Lease by 345.1% during the fourth quarter. Assetmark Inc. now owns 4,464 shares of the company's stock worth $71,000 after purchasing an additional 3,461 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Broadstone Net Lease Price Performance

Shares of NYSE BNL traded down $0.02 during trading on Friday, hitting $15.93. 1,381,132 shares of the company were exchanged, compared to its average volume of 1,240,653. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 18.31 and a beta of 1.04. Broadstone Net Lease, Inc. has a 1 year low of $13.96 and a 1 year high of $19.15. The firm's fifty day moving average price is $15.97 and its 200 day moving average price is $16.24.

Broadstone Net Lease Announces Dividend

The firm 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 annualized dividend and a dividend yield of 7.28%. Broadstone Net Lease's dividend payout ratio is presently 190.16%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. 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. JMP Securities reaffirmed a "market outperform" rating and set a $21.00 price target on shares of Broadstone Net Lease in a report on Monday, May 5th. Truist Financial increased 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. Finally, UBS Group decreased their price target 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus 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.