Broadstone Net Lease, Inc. $BNL Shares Sold by Concurrent Investment Advisors LLC

Key Points

• Concurrent Investment Advisors LLC reduced its position in Broadstone Net Lease shares by 21.9%, now holding 126,199 shares valued at approximately $2 million.
• Several hedge funds have increased their stakes in Broadstone Net Lease, with GAMMA Investing LLC boosting its position by 1,466% during the first quarter, acquiring 31,711 shares.
• Analysts predict a positive outlook for the stock, with a consensus rating of "Moderate Buy" and an average price target of $19.89.

Concurrent Investment Advisors LLC lowered its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 21.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 126,199 shares of the company's stock after selling 35,352 shares during the quarter. Concurrent Investment Advisors LLC owned approximately 0.07% of Broadstone Net Lease worth $2,026,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of BNL. GAMMA Investing LLC boosted its position in Broadstone Net Lease by 1,466.0% during the first quarter. GAMMA Investing LLC now owns 31,711 shares of the company's stock worth $540,000 after acquiring an additional 29,686 shares during the last quarter. SG Americas Securities LLC purchased a new position in Broadstone Net Lease during the first quarter worth approximately $375,000. Ritholtz Wealth Management raised its stake in Broadstone Net Lease by 2.8% during the first quarter. Ritholtz Wealth Management now owns 24,939 shares of the company's stock worth $425,000 after purchasing an additional 673 shares during the period. QRG Capital Management Inc. raised its stake in Broadstone Net Lease by 11.3% during the first quarter. QRG Capital Management Inc. now owns 14,078 shares of the company's stock worth $240,000 after purchasing an additional 1,427 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in Broadstone Net Lease by 1.3% during the first quarter. State of Alaska Department of Revenue now owns 91,475 shares of the company's stock worth $1,558,000 after purchasing an additional 1,157 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Wall Street Analysts Forecast Growth

BNL has been the topic of a number of recent analyst reports. Cantor Fitzgerald initiated coverage on shares of Broadstone Net Lease in a research note on Wednesday, October 1st. They set an "overweight" rating and a $21.00 price target on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $21.00 price target on shares of Broadstone Net Lease in a research note on Monday, September 29th. Weiss Ratings reissued a "hold (c+)" rating on shares of Broadstone Net Lease in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Broadstone Net Lease from a "sell" rating to a "hold" rating in a research note on Friday, October 3rd. 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 note on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $19.89.

Broadstone Net Lease Price Performance

Shares of BNL stock opened at $18.32 on Wednesday. The firm has a market cap of $3.46 billion, a P/E ratio of 35.23 and a beta of 1.00. Broadstone Net Lease, Inc. has a 1-year low of $13.96 and a 1-year high of $18.85. The firm has a fifty day moving average of $18.03 and a two-hundred day moving average of $16.72.

Broadstone Net Lease Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend 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 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.

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