Broadstone Net Lease, Inc. (NYSE:BNL) Shares Bought by Bank of America Corp DE

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

A number of other hedge funds and other institutional investors also recently bought and sold shares of BNL. Barclays PLC grew its stake in shares of Broadstone Net Lease by 131.1% during the third quarter. Barclays PLC now owns 318,142 shares of the company's stock worth $6,028,000 after acquiring an additional 180,456 shares during the last quarter. Tallon Kerry Patrick acquired a new stake in Broadstone Net Lease in the 4th quarter worth approximately $4,669,000. Blue Trust Inc. grew its position in Broadstone Net Lease by 23.7% during the 4th quarter. Blue Trust Inc. now owns 4,827 shares of the company's stock worth $77,000 after purchasing an additional 925 shares during the last quarter. KBC Group NV increased its stake in Broadstone Net Lease by 27.0% during the 4th 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 in the last quarter. Finally, North Point Portfolio Managers Corp OH acquired a new position in Broadstone Net Lease during the 4th quarter valued at approximately $405,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BNL shares. 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. 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. JMP Securities reiterated a "market outperform" rating and set a $21.00 price target on shares of Broadstone Net Lease in a research note on Monday, May 5th. Finally, UBS Group cut their price objective on Broadstone Net Lease from $18.00 to $17.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $18.67.

Broadstone Net Lease Stock Up 1.6%

Shares of BNL stock traded up $0.25 on Tuesday, hitting $15.71. The company had a trading volume of 1,676,781 shares, compared to its average volume of 1,213,573. Broadstone Net Lease, Inc. has a twelve month low of $13.96 and a twelve month high of $19.15. The firm has a market cap of $2.97 billion, a P/E ratio of 18.05 and a beta of 1.04. The company has a 50-day moving average price of $16.07 and a 200-day moving average price of $16.27.

Broadstone Net Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.29 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.16 annualized dividend and a yield of 7.39%. Broadstone Net Lease's dividend payout ratio is presently 190.16%.

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.