Boston Partners Takes $8.07 Million Position in Broadstone Net Lease, Inc. $BNL

Key Points

• Boston Partners acquired a new stake in Broadstone Net Lease, Inc., purchasing 473,648 shares valued at approximately $8.07 million, representing 0.25% ownership of the company.
• Recent analyst reports show a shift in sentiment, with Wolfe Research upgrading Broadstone's rating from "peer perform" to "outperform" and setting a price target of $19.00.
• Broadstone has declared a quarterly dividend of $0.29 per share, which translates to an annualized dividend yield of 6.9%, set to be paid on October 15th.

Boston Partners purchased a new stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 473,648 shares of the company's stock, valued at approximately $8,071,000. Boston Partners owned approximately 0.25% of Broadstone Net Lease as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Federated Hermes Inc. increased its holdings in Broadstone Net Lease by 73,833.3% during the fourth quarter. Federated Hermes Inc. now owns 2,218 shares of the company's stock valued at $35,000 after buying an additional 2,215 shares during the period. Tower Research Capital LLC TRC increased its holdings in 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 valued at $46,000 after buying an additional 1,918 shares during the period. GF Fund Management CO. LTD. purchased a new position in Broadstone Net Lease during the fourth quarter valued at approximately $54,000. Quarry LP purchased a new position in Broadstone Net Lease during the fourth quarter valued at approximately $57,000. Finally, Sterling Capital Management LLC increased its holdings in Broadstone Net Lease by 807.5% during the fourth quarter. Sterling Capital Management LLC now owns 5,944 shares of the company's stock valued at $94,000 after buying an additional 5,289 shares during the period. Institutional investors own 89.07% of the company's stock.

Analyst Ratings Changes

BNL has been the topic of several analyst reports. Truist Financial lifted their price target on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the stock a "hold" rating in a report on Monday, May 5th. JMP Securities reaffirmed a "market outperform" rating and set a $21.00 price target on shares of Broadstone Net Lease in a research report on Monday, June 2nd. The Goldman Sachs Group raised Broadstone Net Lease from a "sell" rating to a "buy" rating and set a $21.00 price target on the stock in a research report on Thursday. KeyCorp raised Broadstone Net Lease from a "sector weight" rating to an "overweight" rating and set a $20.00 price target on the stock in a research report on Tuesday. Finally, Wolfe Research raised Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 price target 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 data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $19.43.

Broadstone Net Lease Stock Up 2.4%

Shares of BNL traded up $0.4150 during trading hours on Thursday, reaching $17.8050. 1,777,088 shares of the company traded hands, compared to its average volume of 1,459,774. The stock has a market capitalization of $3.37 billion, a P/E ratio of 34.24 and a beta of 1.00. Broadstone Net Lease, Inc. has a 12-month low of $13.96 and a 12-month high of $19.15. The business has a fifty day moving average price of $16.27 and a 200-day moving average price of $16.18.

Broadstone Net Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.29 per share. 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 6.5%. Broadstone Net Lease's payout ratio is 223.08%.

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.