Cobblestone Capital Advisors LLC NY Has $12.59 Million Stock Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Key Points

• Cobblestone Capital Advisors LLC NY reduced its holdings in Broadstone Net Lease, Inc. by 14.4%, ending the first quarter with 738,923 shares valued at approximately $12.6 million.
• Institutional investors collectively own 89.07% of Broadstone Net Lease, with various firms significantly increasing their stakes during the fourth quarter.
• Broadstone Net Lease recently announced a quarterly dividend of $0.29, equating to an annual yield of 6.9%, with stockholders of record receiving the payment on October 15th.

Cobblestone Capital Advisors LLC NY lowered its position in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 14.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 738,923 shares of the company's stock after selling 124,711 shares during the period. Cobblestone Capital Advisors LLC NY owned about 0.39% of Broadstone Net Lease worth $12,591,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in BNL. Federated Hermes Inc. increased its holdings in Broadstone Net Lease by 73,833.3% during the 4th quarter. Federated Hermes Inc. now owns 2,218 shares of the company's stock worth $35,000 after purchasing an additional 2,215 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Broadstone Net Lease by 192.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,914 shares of the company's stock valued at $46,000 after acquiring an additional 1,918 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Broadstone Net Lease in the 4th quarter valued at about $54,000. Quarry LP bought a new position in shares of Broadstone Net Lease in the 4th quarter valued at about $57,000. Finally, Sterling Capital Management LLC grew its holdings in shares of Broadstone Net Lease by 807.5% in the 4th quarter. Sterling Capital Management LLC now owns 5,944 shares of the company's stock valued at $94,000 after acquiring an additional 5,289 shares in the last quarter. Institutional investors own 89.07% of the company's stock.

Broadstone Net Lease Stock Up 0.2%

Shares of NYSE BNL traded up $0.03 during midday trading on Wednesday, hitting $16.70. 148,247 shares of the company's stock were exchanged, compared to its average volume of 1,446,463. Broadstone Net Lease, Inc. has a 12 month low of $13.96 and a 12 month high of $19.15. The company's 50 day moving average price is $16.19 and its 200 day moving average price is $16.15. The firm has a market capitalization of $3.16 billion, a PE ratio of 32.11 and a beta of 1.00.

Broadstone Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date is Tuesday, September 30th. Broadstone Net Lease's payout ratio is presently 223.08%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BNL shares. Wall Street Zen upgraded Broadstone Net Lease from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. UBS Group decreased their price objective on Broadstone Net Lease from $17.00 to $16.00 and set a "neutral" rating for the company in a report on Wednesday, July 16th. Truist Financial raised their price objective on Broadstone Net Lease from $17.00 to $18.00 and gave the company a "hold" rating in a report on Monday, May 5th. Wolfe Research upgraded Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 price objective for the company in a report on Monday, July 28th. Finally, JMP Securities reiterated a "market outperform" rating and set a $21.00 price target on shares of Broadstone Net Lease in a report on Monday, June 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.57.

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.