Broadstone Net Lease, Inc. $BNL Shares Sold by Aew Capital Management L P

Key Points

• Aew Capital Management L P reduced its stake in Broadstone Net Lease, Inc. by 2.2%, owning 3,066,439 shares after selling 69,510 shares, making it the company's 12th largest position.
• Broadstone Net Lease announced a quarterly dividend of $0.29 per share with a yield of 6.4%, payable on October 15th to shareholders of record as of September 30th.
• The stock has received mixed analyst ratings, with one analyst giving it a "Strong Buy" and others issuing a “sell” or “hold” rating, leading to a consensus rating of "Moderate Buy" with an average target price of $19.43.

Aew Capital Management L P reduced its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 2.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,066,439 shares of the company's stock after selling 69,510 shares during the period. Broadstone Net Lease comprises 2.6% of Aew Capital Management L P's portfolio, making the stock its 12th largest position. Aew Capital Management L P owned 1.62% of Broadstone Net Lease worth $52,252,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Tower Research Capital LLC TRC lifted its position 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 in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Broadstone Net Lease during the fourth quarter worth $54,000. Quarry LP acquired a new position in shares of Broadstone Net Lease during the fourth quarter worth $57,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Broadstone Net Lease during the first quarter worth $115,000. Finally, KBC Group NV lifted its position in shares of Broadstone Net Lease by 15.1% during the first quarter. KBC Group NV now owns 9,094 shares of the company's stock worth $155,000 after purchasing 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 Price Performance

BNL opened at $18.2280 on Friday. The stock has a market capitalization of $3.45 billion, a PE ratio of 35.05 and a beta of 1.00. The firm's fifty day moving average price is $16.34 and its 200 day moving average price is $16.22. Broadstone Net Lease, Inc. has a 12-month low of $13.96 and a 12-month 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. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.29 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.16 annualized dividend and a yield of 6.4%. Broadstone Net Lease's payout ratio is presently 223.08%.

Analyst Ratings Changes

BNL has been the topic of a number of recent research reports. Wall Street Zen cut shares of Broadstone Net Lease from a "hold" rating to a "sell" rating in a research report on Friday. Truist Financial boosted their target price on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the stock a "hold" rating in a research report on Monday, May 5th. JMP Securities reissued a "market outperform" rating and set a $21.00 target price on shares of Broadstone Net Lease in a research report on Monday, June 2nd. Wolfe Research raised shares of Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 target price on the stock in a research report on Monday, July 28th. Finally, KeyCorp raised shares of Broadstone Net Lease from a "sector weight" rating to an "overweight" rating and set a $20.00 target price on the stock in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $19.43.

Broadstone Net Lease 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.

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