Wealth Enhancement Advisory Services LLC Sells 16,713 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Wealth Enhancement Advisory Services LLC lowered its holdings in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 345,685 shares of the company's stock after selling 16,713 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.18% of Broadstone Net Lease worth $5,890,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of BNL. Rockefeller Capital Management L.P. grew its position in Broadstone Net Lease by 3.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 23,826 shares of the company's stock worth $378,000 after acquiring an additional 892 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Broadstone Net Lease by 34.1% during the fourth quarter. Lazard Asset Management LLC now owns 76,592 shares of the company's stock worth $1,214,000 after purchasing an additional 19,467 shares during the last quarter. Aew Capital Management L P lifted its stake in Broadstone Net Lease by 2.3% during the fourth quarter. Aew Capital Management L P now owns 3,135,949 shares of the company's stock worth $49,736,000 after purchasing an additional 69,690 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Broadstone Net Lease by 1,466.0% in the 1st quarter. GAMMA Investing LLC now owns 31,711 shares of the company's stock worth $540,000 after purchasing an additional 29,686 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Broadstone Net Lease by 161.0% during the 4th quarter. Bank of America Corp DE now owns 761,471 shares of the company's stock valued at $12,077,000 after purchasing an additional 469,733 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. JMP Securities restated a "market outperform" rating and issued a $21.00 target price on shares of Broadstone Net Lease in a research report on Monday, June 2nd. Truist Financial boosted their price objective on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the stock a "hold" rating in a report on Monday, May 5th. BMO Capital Markets set a $20.00 price objective on shares of Broadstone Net Lease and gave the company an "outperform" rating in a research note on Monday, March 24th. Finally, UBS Group decreased their target price on shares of 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. 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $18.67.

Broadstone Net Lease Trading Down 0.3%

BNL stock traded down $0.06 during midday trading on Friday, hitting $16.18. The company had a trading volume of 2,256,690 shares, compared to its average volume of 1,286,326. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 11.35 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. The stock's 50 day moving average price is $16.05 and its 200 day moving average price is $16.11.

Broadstone Net Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.16 dividend on an annualized basis and a yield of 7.17%. Broadstone Net Lease's dividend payout ratio is currently 190.16%.

About Broadstone Net Lease

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.