Caxton Associates LLP Makes New $650,000 Investment in 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 purchased a new position in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 38,167 shares of the company's stock, valued at approximately $650,000.

Other institutional investors have also recently made changes to their positions in the company. GF Fund Management CO. LTD. acquired a new position in Broadstone Net Lease during the 4th quarter worth approximately $54,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Broadstone Net Lease in the 1st quarter worth $115,000. KBC Group NV grew its position in Broadstone Net Lease by 15.1% in the 1st quarter. KBC Group NV now owns 9,094 shares of the company's stock valued at $155,000 after purchasing an additional 1,193 shares during the period. D. E. Shaw & Co. Inc. bought a new stake in Broadstone Net Lease during the 4th quarter valued at $183,000. Finally, Squarepoint Ops LLC acquired a new position in Broadstone Net Lease during the fourth quarter worth $198,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BNL. Wolfe Research raised shares of Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 target price for the company in a research report on Monday, July 28th. Wall Street Zen downgraded Broadstone Net Lease from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. The Goldman Sachs Group raised Broadstone Net Lease from a "sell" rating to a "buy" rating and set a $21.00 price target for the company in a research report on Thursday, August 21st. KeyCorp raised shares of Broadstone Net Lease from a "sector weight" rating to an "overweight" rating and set a $20.00 price objective on the stock in a report on Tuesday, August 19th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $21.00 target price on shares of Broadstone Net Lease in a report on Monday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $19.43.

Broadstone Net Lease Price Performance

BNL stock traded up $0.13 during mid-day trading on Wednesday, hitting $18.63. 72,400 shares of the stock were exchanged, compared to its average volume of 1,465,533. Broadstone Net Lease, Inc. has a 12 month low of $13.96 and a 12 month high of $19.15. The business has a fifty day moving average price of $17.13 and a 200 day moving average price of $16.53. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 35.80 and a beta of 1.01.

Broadstone Net Lease Announces Dividend

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