Charles Schwab Investment Management Inc. Increases Stake in Broadstone Net Lease, Inc. $BNL

Key Points

• Charles Schwab Investment Management Inc. increased its ownership of Broadstone Net Lease, Inc. by 2.2% in the first quarter, now holding about 1.67% of the company valued at approximately $53.6 million.
• Broadstone Net Lease announced a quarterly dividend of $0.29 per share, with a dividend yield of 6.9%, to be paid on October 15th.
• Several analysts have issued upgrades on Broadstone Net Lease's stock, with targets ranging from $17.00 to $21.00, reflecting a generally positive outlook with a consensus rating of "Moderate Buy."

Charles Schwab Investment Management Inc. grew its stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,145,709 shares of the company's stock after purchasing an additional 68,196 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.67% of Broadstone Net Lease worth $53,603,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Broadstone Net Lease by 1.0% in the first quarter. Vanguard Group Inc. now owns 27,711,994 shares of the company's stock valued at $472,212,000 after purchasing an additional 266,900 shares during the period. Northern Trust Corp boosted its position in Broadstone Net Lease by 20.0% during the fourth quarter. Northern Trust Corp now owns 2,464,544 shares of the company's stock worth $39,088,000 after acquiring an additional 410,767 shares during the last quarter. Allianz Asset Management GmbH boosted its position in Broadstone Net Lease by 87.3% during the first quarter. Allianz Asset Management GmbH now owns 1,288,892 shares of the company's stock worth $21,963,000 after acquiring an additional 600,633 shares during the last quarter. Systematic Financial Management LP boosted its position in Broadstone Net Lease by 43.1% during the fourth quarter. Systematic Financial Management LP now owns 1,069,837 shares of the company's stock worth $16,968,000 after acquiring an additional 322,131 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Broadstone Net Lease by 7.1% during the fourth quarter. Invesco Ltd. now owns 1,035,938 shares of the company's stock worth $16,430,000 after acquiring an additional 69,041 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on BNL shares. UBS Group boosted their price target on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the stock a "neutral" rating in a research report on Friday. JMP Securities restated a "market outperform" rating and set a $21.00 price target on shares of Broadstone Net Lease in a research report on Monday, June 2nd. Wolfe Research upgraded shares of Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 price target on the stock in a research report on Monday, July 28th. KeyCorp upgraded shares of Broadstone Net Lease from a "sector weight" rating to an "overweight" rating and set a $20.00 price target on the stock in a research report on Tuesday. Finally, Truist Financial lifted their target price 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 equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $18.71.

Broadstone Net Lease Stock Performance

Shares of Broadstone Net Lease stock traded up $0.3350 on Tuesday, reaching $16.9350. The company had a trading volume of 664,133 shares, compared to its average volume of 1,449,889. The firm's 50 day moving average price is $16.23 and its two-hundred day moving average price is $16.17. The firm has a market cap of $3.20 billion, a PE ratio of 32.57 and a beta of 1.00. Broadstone Net Lease, Inc. has a 52-week low of $13.96 and a 52-week high of $19.15.

Broadstone Net Lease Announces Dividend

The business also recently declared 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. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend is Tuesday, September 30th. 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.