Broadstone Net Lease, Inc. $BNL Shares Acquired by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in Broadstone Net Lease by 17.1%, owning 131,654 shares valued at approximately $2.24 million after acquiring additional shares.
• Analysts have set varied price targets for Broadstone Net Lease, with JMP Securities rating it as "market outperform" and setting a target of $21.00, while the stock has an average price target of $18.71.
• Broadstone Net Lease announced a quarterly dividend of $0.29 per share, resulting in an annualized dividend yield of 6.8% with a payout ratio of 223.08%.

LPL Financial LLC grew its stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 17.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 131,654 shares of the company's stock after buying an additional 19,190 shares during the quarter. LPL Financial LLC owned 0.07% of Broadstone Net Lease worth $2,243,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Tower Research Capital LLC TRC increased its holdings in Broadstone Net Lease by 192.6% in 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 last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Broadstone Net Lease during the 4th quarter worth about $54,000. Quarry LP acquired a new position in shares of Broadstone Net Lease during the 4th quarter worth about $57,000. Sterling Capital Management LLC increased its holdings in shares of Broadstone Net Lease by 807.5% in the 4th quarter. Sterling Capital Management LLC now owns 5,944 shares of the company's stock valued at $94,000 after acquiring an additional 5,289 shares during the last quarter. Finally, KBC Group NV raised its position in shares of Broadstone Net Lease by 15.1% during the 1st quarter. KBC Group NV now owns 9,094 shares of the company's stock worth $155,000 after acquiring an additional 1,193 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Broadstone Net Lease Trading Up 2.4%

BNL stock traded up $0.4280 on Friday, hitting $18.2280. The company's stock had a trading volume of 3,932,225 shares, compared to its average volume of 1,788,284. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 35.05 and a beta of 1.00. The firm has a 50 day moving average of $16.34 and a two-hundred day moving average of $16.22. Broadstone Net Lease, Inc. has a 1 year low of $13.96 and a 1 year high of $19.15.

Broadstone Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Broadstone Net Lease's dividend payout ratio is presently 223.08%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BNL shares. Wolfe Research raised Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 price target for the company in a report on Monday, July 28th. KeyCorp upgraded shares of Broadstone Net Lease from a "sector weight" rating to an "overweight" rating and set a $20.00 price objective for the company in a research report on Tuesday, August 19th. 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, June 2nd. UBS Group increased their target price on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Friday, August 15th. Finally, Wall Street Zen cut shares of Broadstone Net Lease from a "hold" rating to a "sell" rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target 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.