Aew Capital Management L P Sells 69,510 Shares of Broadstone Net Lease, Inc. $BNL

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 trimmed its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 2.2% during the first quarter, according to its most recent disclosure with the Securities & 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 makes up approximately 2.6% of Aew Capital Management L P's investment portfolio, making the stock its 12th largest position. Aew Capital Management L P owned about 1.62% of Broadstone Net Lease worth $52,252,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in BNL. Tower Research Capital LLC TRC boosted its stake in shares of Broadstone Net Lease by 192.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,914 shares of the company's stock valued at $46,000 after purchasing an additional 1,918 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Broadstone Net Lease in the 4th quarter valued at approximately $54,000. Quarry LP acquired a new stake in shares of Broadstone Net Lease in the 4th quarter valued at approximately $57,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Broadstone Net Lease in the 1st quarter valued at approximately $115,000. Finally, KBC Group NV boosted its stake in shares of Broadstone Net Lease by 15.1% in the 1st quarter. KBC Group NV now owns 9,094 shares of the company's stock valued at $155,000 after purchasing an additional 1,193 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BNL. JMP Securities restated a "market outperform" rating and issued a $21.00 price target on shares of Broadstone Net Lease in a research note on Monday, June 2nd. 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 report on Tuesday, August 19th. Wall Street Zen lowered shares of Broadstone Net Lease from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. Wolfe Research upgraded shares of Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 price objective for the company in a report on Monday, July 28th. Finally, Truist Financial raised their price objective on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the company a "hold" rating in a report on Monday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.43.

Broadstone Net Lease Stock Down 0.6%

Broadstone Net Lease stock traded down $0.11 during mid-day trading on Thursday, hitting $18.28. 269,044 shares of the stock were exchanged, compared to its average volume of 1,482,072. Broadstone Net Lease, Inc. has a 12 month low of $13.96 and a 12 month high of $19.15. The firm's fifty day simple moving average is $16.47 and its two-hundred day simple moving average is $16.27. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of 35.13 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 paid a $0.29 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 6.3%. Broadstone Net Lease's payout ratio is currently 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.