Teacher Retirement System of Texas Trims Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Teacher Retirement System of Texas cut its holdings in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 32.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BNL. Norges Bank acquired a new position in shares of Broadstone Net Lease during the fourth quarter valued at about $36,170,000. Bank of Montreal Can increased its holdings in shares of Broadstone Net Lease by 603.9% during the fourth quarter. Bank of Montreal Can now owns 1,891,881 shares of the company's stock valued at $30,005,000 after acquiring an additional 1,623,098 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new position in shares of Broadstone Net Lease during the fourth quarter valued at about $7,771,000. Bank of America Corp DE increased its holdings in shares of Broadstone Net Lease by 161.0% during the fourth quarter. Bank of America Corp DE now owns 761,471 shares of the company's stock valued at $12,077,000 after acquiring an additional 469,733 shares in the last quarter. Finally, Northern Trust Corp increased 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 valued at $39,088,000 after acquiring an additional 410,767 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BNL shares. BMO Capital Markets set a $20.00 price objective on shares of Broadstone Net Lease and gave the company an "outperform" rating in a report on Monday, March 24th. JMP Securities reaffirmed a "market outperform" rating and set a $21.00 price objective on shares of Broadstone Net Lease in a research note on Monday, June 2nd. Truist Financial raised 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. Finally, UBS Group dropped their price objective on shares of Broadstone Net Lease from $17.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Broadstone Net Lease presently has an average rating of "Moderate Buy" and a consensus target price of $18.50.

Broadstone Net Lease Stock Performance

Shares of NYSE:BNL traded up $0.01 during midday trading on Friday, reaching $15.76. 526,624 shares of the company's stock traded hands, compared to its average volume of 1,459,270. Broadstone Net Lease, Inc. has a 1 year low of $13.96 and a 1 year high of $19.15. The company has a market cap of $2.98 billion, a P/E ratio of 25.83 and a beta of 1.00. The company has a fifty day simple moving average of $16.05 and a two-hundred day simple moving average of $16.07.

Broadstone Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.36%. Broadstone Net Lease's dividend payout ratio (DPR) is 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.