Tritonpoint Wealth LLC Sells 50,060 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Tritonpoint Wealth LLC lowered its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 4.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 965,061 shares of the company's stock after selling 50,060 shares during the period. Broadstone Net Lease accounts for approximately 1.6% of Tritonpoint Wealth LLC's portfolio, making the stock its 10th largest position. Tritonpoint Wealth LLC owned 0.51% of Broadstone Net Lease worth $16,725,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BNL. Federated Hermes Inc. raised its holdings in Broadstone Net Lease by 73,833.3% during the fourth quarter. Federated Hermes Inc. now owns 2,218 shares of the company's stock worth $35,000 after purchasing an additional 2,215 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Broadstone Net Lease by 139.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company's stock valued at $43,000 after buying an additional 1,592 shares in the last quarter. 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 in the last quarter. GF Fund Management CO. LTD. purchased a new position in Broadstone Net Lease in the fourth quarter valued at about $54,000. Finally, Quarry LP purchased a new position in Broadstone Net Lease in the fourth quarter valued at about $57,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Broadstone Net Lease Trading Down 1.3%

Shares of BNL stock traded down $0.21 during trading hours on Friday, hitting $16.11. The company's stock had a trading volume of 1,226,430 shares, compared to its average volume of 1,265,054. Broadstone Net Lease, Inc. has a twelve month low of $13.96 and a twelve month high of $19.15. The business has a fifty day moving average of $15.90 and a 200-day moving average of $16.17. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 18.51 and a beta of 1.00.

Broadstone Net Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.29 per share. The ex-dividend date is Monday, June 30th. This represents a $1.16 annualized dividend and a dividend yield of 7.20%. Broadstone Net Lease's dividend payout ratio is presently 190.16%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. UBS Group dropped their target price on shares of Broadstone Net Lease from $18.00 to $17.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. BMO Capital Markets set a $20.00 target price on shares of Broadstone Net Lease and gave the company an "outperform" rating in a report on Monday, March 24th. Truist Financial increased their target price 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. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $21.00 target price on shares of Broadstone Net Lease in a report on Monday, June 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $18.67.

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.