LPL Financial LLC Has $2.24 Million Position in Broadstone Net Lease, Inc. $BNL

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 boosted its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 17.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 131,654 shares of the company's stock after buying an additional 19,190 shares during the period. LPL Financial LLC owned approximately 0.07% of Broadstone Net Lease worth $2,243,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Ritholtz Wealth Management grew its stake in shares of Broadstone Net Lease by 2.8% during the 1st quarter. Ritholtz Wealth Management now owns 24,939 shares of the company's stock worth $425,000 after acquiring an additional 673 shares in the last quarter. Xponance Inc. grew its stake in shares of Broadstone Net Lease by 5.3% during the 1st quarter. Xponance Inc. now owns 14,298 shares of the company's stock worth $244,000 after acquiring an additional 721 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Broadstone Net Lease by 3.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 23,826 shares of the company's stock worth $378,000 after acquiring an additional 892 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its stake in shares of Broadstone Net Lease by 4.0% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 28,342 shares of the company's stock worth $452,000 after acquiring an additional 1,080 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of Broadstone Net Lease by 1.3% during the 1st quarter. State of Alaska Department of Revenue now owns 91,475 shares of the company's stock worth $1,558,000 after acquiring an additional 1,157 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BNL has been the subject of several analyst reports. JMP Securities reissued a "market outperform" rating and issued a $21.00 target price on shares of Broadstone Net Lease in a research note on Monday, June 2nd. Truist Financial boosted their target price on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the company a "hold" rating in a research report on Monday, May 5th. KeyCorp raised shares of Broadstone Net Lease from a "sector weight" rating to an "overweight" rating and set a $20.00 target price for the company in a research report on Tuesday. The Goldman Sachs Group raised shares of Broadstone Net Lease from a "sell" rating to a "buy" rating and set a $21.00 target price for the company in a research report on Thursday. Finally, UBS Group boosted 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. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $19.43.

Broadstone Net Lease Stock Performance

Shares of Broadstone Net Lease stock traded up $0.4280 on Friday, hitting $18.2280. The stock had a trading volume of 3,932,225 shares, compared to its average volume of 1,624,729. The stock has a 50 day moving average of $16.34 and a 200 day moving average of $16.22. Broadstone Net Lease, Inc. has a twelve month low of $13.96 and a twelve month high of $19.15. The firm has a market capitalization of $3.45 billion, a P/E ratio of 35.05 and a beta of 1.00.

Broadstone Net Lease Announces Dividend

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 given a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 6.4%. Broadstone Net Lease's dividend payout ratio (DPR) is 223.08%.

About Broadstone Net Lease

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.