Dean Capital Management Acquires 108,841 Shares of Broadstone Net Lease, Inc. $BNL

Key Points

• Dean Capital Management increased its stake in Broadstone Net Lease by 187.1%, acquiring 108,841 additional shares and making it the firm's 8th largest holding.
• Various institutional investors have shown interest in Broadstone Net Lease, with a reported 89.07% of the stock currently owned by them.
• Recent analyst ratings have varied, with Wolfe Research upgrading the stock to "outperform" and a consensus price target of $19.43 reflecting a "Moderate Buy" rating.

Dean Capital Management boosted its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 187.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,021 shares of the company's stock after acquiring an additional 108,841 shares during the period. Broadstone Net Lease accounts for approximately 1.2% of Dean Capital Management's investment portfolio, making the stock its 8th biggest position. Dean Capital Management owned about 0.09% of Broadstone Net Lease worth $2,846,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC grew its stake 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 buying an additional 1,918 shares during the period. GF Fund Management CO. LTD. acquired a new stake in Broadstone Net Lease during the fourth quarter worth $54,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Broadstone Net Lease during the first quarter worth $115,000. KBC Group NV increased its stake in Broadstone Net Lease by 15.1% during the first quarter. KBC Group NV now owns 9,094 shares of the company's stock worth $155,000 after acquiring an additional 1,193 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new stake in Broadstone Net Lease during the fourth quarter worth $183,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Wall Street Zen cut Broadstone Net Lease from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. UBS Group raised their target price on Broadstone Net Lease from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Friday, August 15th. JMP Securities reissued a "market outperform" rating and set a $21.00 target price on shares of Broadstone Net Lease in a research note on Monday, June 2nd. KeyCorp upgraded 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, Wolfe Research upgraded shares of 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. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Broadstone Net Lease has a consensus rating of "Moderate Buy" and a consensus target price of $19.43.

Broadstone Net Lease Price Performance

Shares of BNL stock traded up $0.03 during trading hours on Friday, hitting $18.79. The company had a trading volume of 759,751 shares, compared to its average volume of 1,535,483. The company's fifty day moving average is $17.03 and its 200 day moving average is $16.51. Broadstone Net Lease, Inc. has a fifty-two week low of $13.96 and a fifty-two week high of $19.15. The stock has a market capitalization of $3.55 billion, a PE ratio of 36.13 and a beta of 1.01.

Broadstone Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 6.2%. The ex-dividend date is Tuesday, September 30th. Broadstone Net Lease's dividend payout ratio is currently 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.