Charles Schwab Investment Management Inc. Has $53.60 Million 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. raised its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 2.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,145,709 shares of the company's stock after acquiring an additional 68,196 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.67% of Broadstone Net Lease worth $53,603,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake 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 buying an additional 266,900 shares during the period. Northern Trust Corp lifted its stake in shares of Broadstone Net Lease by 20.0% in the fourth quarter. Northern Trust Corp now owns 2,464,544 shares of the company's stock valued at $39,088,000 after buying an additional 410,767 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of Broadstone Net Lease by 87.3% in the first quarter. Allianz Asset Management GmbH now owns 1,288,892 shares of the company's stock valued at $21,963,000 after buying an additional 600,633 shares during the period. Systematic Financial Management LP lifted its stake in shares of Broadstone Net Lease by 43.1% in the fourth quarter. Systematic Financial Management LP now owns 1,069,837 shares of the company's stock valued at $16,968,000 after buying an additional 322,131 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Broadstone Net Lease by 7.1% in the fourth quarter. Invesco Ltd. now owns 1,035,938 shares of the company's stock valued at $16,430,000 after buying an additional 69,041 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. 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 research note on Monday, May 5th. UBS Group increased their target price on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Friday, August 15th. KeyCorp raised shares of Broadstone Net Lease from a "sector weight" rating to an "overweight" rating and set a $20.00 price target for the company in a research report on Tuesday. JMP Securities reissued a "market outperform" rating and issued a $21.00 price target on shares of Broadstone Net Lease in a research report on Monday, June 2nd. Finally, Wall Street Zen raised shares of Broadstone Net Lease from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Broadstone Net Lease has a consensus rating of "Moderate Buy" and a consensus price target of $18.71.

Broadstone Net Lease Stock Performance

Shares of NYSE BNL traded up $0.2750 during mid-day trading on Wednesday, hitting $17.3850. 2,009,765 shares of the stock were exchanged, compared to its average volume of 1,394,302. The company has a market cap of $3.29 billion, a P/E ratio of 33.43 and a beta of 1.00. The stock's fifty day simple moving average is $16.27 and its two-hundred day simple moving average is $16.18. Broadstone Net Lease, Inc. has a twelve month low of $13.96 and a twelve month high of $19.15.

Broadstone Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 6.7%. Broadstone Net Lease's dividend payout ratio (DPR) is presently 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.