Bank of America Corp DE Increases Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Bank of America Corp DE boosted its position in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 161.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 761,471 shares of the company's stock after purchasing an additional 469,733 shares during the period. Bank of America Corp DE owned about 0.40% of Broadstone Net Lease worth $12,077,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in Broadstone Net Lease by 131.1% during the 3rd quarter. Barclays PLC now owns 318,142 shares of the company's stock valued at $6,028,000 after buying an additional 180,456 shares in the last quarter. Tallon Kerry Patrick purchased a new stake in Broadstone Net Lease during the fourth quarter valued at $4,669,000. Blue Trust Inc. lifted its position in Broadstone Net Lease by 23.7% during the fourth quarter. Blue Trust Inc. now owns 4,827 shares of the company's stock valued at $77,000 after purchasing an additional 925 shares during the last quarter. KBC Group NV lifted its position in Broadstone Net Lease by 27.0% during the fourth quarter. KBC Group NV now owns 7,901 shares of the company's stock valued at $125,000 after purchasing an additional 1,681 shares during the last quarter. Finally, North Point Portfolio Managers Corp OH purchased a new position in shares of Broadstone Net Lease in the 4th quarter worth $405,000. 89.07% of the stock is currently owned by institutional investors.

Broadstone Net Lease Stock Performance

Broadstone Net Lease stock traded down $0.13 during trading hours on Wednesday, hitting $15.61. The company had a trading volume of 207,370 shares, compared to its average volume of 1,375,552. The firm has a market cap of $2.95 billion, a P/E ratio of 17.94 and a beta of 1.04. The company has a 50-day moving average price of $16.04 and a two-hundred day moving average price of $16.27. Broadstone Net Lease, Inc. has a 1 year low of $13.96 and a 1 year high of $19.15.

Broadstone Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.29 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.16 annualized dividend and a dividend yield of 7.43%. Broadstone Net Lease's payout ratio is currently 190.16%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. UBS Group lowered their price target 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. 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, May 5th. BMO Capital Markets set a $20.00 price target on Broadstone Net Lease and gave the stock an "outperform" rating in a research report on Monday, March 24th. Finally, Truist Financial lifted their price objective on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the stock a "hold" rating in a research note on Monday, May 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Broadstone Net Lease currently has an average rating of "Moderate Buy" and a consensus 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.