Caxton Associates LLP Acquires Shares of 38,167 Broadstone Net Lease, Inc. $BNL

Key Points

• Caxton Associates LLP has acquired 38,167 shares of Broadstone Net Lease, Inc. (NYSE: BNL), valued at approximately $650,000, in its latest filing with the SEC.
• Several hedge funds have increased their stakes in Broadstone Net Lease, with institutional investors now owning 89.07% of the company's stock.
• Broadstone Net Lease recently declared a quarterly dividend of $0.29, which results in a 6.2% yield based on an annualized amount of $1.16.

Caxton Associates LLP acquired a new stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 38,167 shares of the company's stock, valued at approximately $650,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ritholtz Wealth Management increased its stake in shares of Broadstone Net Lease by 2.8% during the first quarter. Ritholtz Wealth Management now owns 24,939 shares of the company's stock valued at $425,000 after buying an additional 673 shares during the period. Xponance Inc. increased its stake in shares of Broadstone Net Lease by 5.3% during the first quarter. Xponance Inc. now owns 14,298 shares of the company's stock valued at $244,000 after buying an additional 721 shares during the period. Nissay Asset Management Corp Japan ADV increased its stake in shares of Broadstone Net Lease by 4.0% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 28,342 shares of the company's stock valued at $452,000 after buying an additional 1,080 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Broadstone Net Lease by 1.3% during the first quarter. State of Alaska Department of Revenue now owns 91,475 shares of the company's stock valued at $1,558,000 after buying an additional 1,157 shares during the period. Finally, KBC Group NV increased its stake in shares of Broadstone Net Lease by 15.1% during the first quarter. KBC Group NV now owns 9,094 shares of the company's stock valued at $155,000 after buying an additional 1,193 shares during the period. Institutional investors own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wolfe Research raised Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 target price on the stock in a research note on Monday, July 28th. UBS Group boosted their target price on 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 Broadstone Net Lease from a "sector weight" rating to an "overweight" rating and set a $20.00 target price on the stock in a research note on Tuesday, August 19th. Wall Street Zen cut Broadstone Net Lease from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Finally, The Goldman Sachs Group raised Broadstone Net Lease from a "sell" rating to a "buy" rating and set a $21.00 price target on the stock in a research note on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.43.

Broadstone Net Lease Stock Up 0.8%

Shares of BNL stock opened at $18.77 on Friday. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 36.10 and a beta of 1.01. The business's fifty day moving average is $16.98 and its 200 day moving average is $16.50. Broadstone Net Lease, Inc. has a twelve month low of $13.96 and a twelve month high of $19.15.

Broadstone Net Lease Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend is Tuesday, September 30th. Broadstone Net Lease's dividend payout ratio is presently 223.08%.

Broadstone Net Lease 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.

Want to see what other hedge funds are holding BNL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadstone Net Lease, Inc. (NYSE:BNL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.