Teacher Retirement System of Texas lessened its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 32.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,732 shares of the company's stock after selling 25,759 shares during the quarter. Teacher Retirement System of Texas' holdings in Broadstone Net Lease were worth $916,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Geode Capital Management LLC lifted its stake in Broadstone Net Lease by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 4,860,444 shares of the company's stock worth $77,103,000 after purchasing an additional 15,501 shares during the last quarter. Centersquare Investment Management LLC lifted its holdings in shares of Broadstone Net Lease by 7.1% in the fourth quarter. Centersquare Investment Management LLC now owns 4,011,419 shares of the company's stock valued at $63,621,000 after purchasing an additional 265,428 shares in the last quarter. Northern Trust Corp raised its holdings in shares of 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 in the last quarter. Norges Bank acquired a new position in shares of Broadstone Net Lease during the 4th quarter valued at about $36,170,000. Finally, JPMorgan Chase & Co. increased its position in Broadstone Net Lease by 16.1% in the 4th quarter. JPMorgan Chase & Co. now owns 2,129,196 shares of the company's stock worth $33,769,000 after buying an additional 294,783 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
BNL has been the topic of a number of analyst reports. JMP Securities reiterated 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. UBS Group reduced their price target on Broadstone Net Lease from $18.00 to $17.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. BMO Capital Markets set a $20.00 price target on Broadstone Net Lease and gave the company an "outperform" rating in a research note on Monday, March 24th. Finally, Truist Financial boosted their price target on Broadstone Net Lease from $17.00 to $18.00 and gave the stock a "hold" rating in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Broadstone Net Lease currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.67.
Check Out Our Latest Stock Report on Broadstone Net Lease
Broadstone Net Lease Stock Up 0.2%
Broadstone Net Lease stock traded up $0.03 during trading on Wednesday, hitting $15.78. The stock had a trading volume of 256,093 shares, compared to its average volume of 1,289,674. Broadstone Net Lease, Inc. has a 1 year low of $13.96 and a 1 year high of $19.15. The stock's 50 day moving average is $16.07 and its two-hundred day moving average is $16.08. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 25.86 and a beta of 1.00.
Broadstone Net Lease Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a $0.29 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.16 annualized dividend and a dividend yield of 7.35%. Broadstone Net Lease's payout ratio is currently 190.16%.
About Broadstone Net Lease
(
Free Report)
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.
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