Columbus Macro LLC Boosts Stock Position in Broadstone Net Lease, Inc. $BNL

Key Points

• Columbus Macro LLC increased its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 28.0%, owning 544,175 shares valued at around $8.73 million.
• Analyst ratings for Broadstone Net Lease have improved, with numerous brokerages issuing upgrades and a consensus average target price of $19.89.
• The company announced a quarterly dividend of $0.29 per share, with a dividend yield of 6.3% and a high payout ratio of 223.08%.

Columbus Macro LLC grew its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 28.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 544,175 shares of the company's stock after buying an additional 118,911 shares during the period. Broadstone Net Lease accounts for 1.1% of Columbus Macro LLC's investment portfolio, making the stock its 26th largest position. Columbus Macro LLC owned about 0.29% of Broadstone Net Lease worth $8,734,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Armbruster Capital Management Inc. lifted its position in shares of Broadstone Net Lease by 13.2% during the 2nd quarter. Armbruster Capital Management Inc. now owns 85,554 shares of the company's stock valued at $1,373,000 after buying an additional 10,000 shares during the last quarter. Appleton Partners Inc. MA purchased a new position in shares of Broadstone Net Lease during the 2nd quarter valued at $587,000. QRG Capital Management Inc. lifted its position in shares of Broadstone Net Lease by 10.6% during the 2nd quarter. QRG Capital Management Inc. now owns 15,566 shares of the company's stock valued at $250,000 after buying an additional 1,488 shares during the last quarter. Wolff Wiese Magana LLC purchased a new position in shares of Broadstone Net Lease during the 2nd quarter valued at $45,000. Finally, Prairiewood Capital LLC lifted its position in shares of Broadstone Net Lease by 4.4% during the 2nd quarter. Prairiewood Capital LLC now owns 341,334 shares of the company's stock valued at $5,478,000 after buying an additional 14,313 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BNL. Weiss Ratings reissued a "hold (c+)" rating on shares of Broadstone Net Lease in a report on Wednesday. BTIG Research reissued a "buy" rating and set a $22.00 price objective on shares of Broadstone Net Lease in a report on Wednesday, October 1st. The Goldman Sachs Group raised Broadstone Net Lease from a "sell" rating to a "buy" rating and set a $21.00 price objective on the stock in a report on Thursday, August 21st. Wolfe Research raised Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 price objective on the stock in a report on Monday, July 28th. Finally, KeyCorp raised 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. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Broadstone Net Lease presently has an average rating of "Moderate Buy" and an average target price of $19.89.

Broadstone Net Lease Stock Down 0.7%

NYSE:BNL opened at $18.43 on Thursday. The business's 50-day moving average price is $17.90 and its two-hundred day moving average price is $16.69. Broadstone Net Lease, Inc. has a twelve month low of $13.96 and a twelve month high of $18.85. The stock has a market cap of $3.49 billion, a P/E ratio of 35.44 and a beta of 1.00.

Broadstone Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend is Tuesday, September 30th. Broadstone Net Lease's dividend payout ratio (DPR) is currently 223.08%.

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.

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