Envestnet Asset Management Inc. Grows Stock Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Envestnet Asset Management Inc. increased its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 20.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 543,987 shares of the company's stock after purchasing an additional 92,909 shares during the period. Envestnet Asset Management Inc. owned approximately 0.29% of Broadstone Net Lease worth $9,270,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Penserra Capital Management LLC lifted its holdings in Broadstone Net Lease by 21.0% during the 1st quarter. Penserra Capital Management LLC now owns 64,827 shares of the company's stock valued at $1,104,000 after buying an additional 11,272 shares in the last quarter. Meritage Portfolio Management lifted its holdings in Broadstone Net Lease by 33.9% during the 1st quarter. Meritage Portfolio Management now owns 386,997 shares of the company's stock valued at $6,594,000 after buying an additional 97,892 shares in the last quarter. Prairiewood Capital LLC lifted its holdings in Broadstone Net Lease by 3.0% during the 1st quarter. Prairiewood Capital LLC now owns 327,021 shares of the company's stock valued at $5,572,000 after buying an additional 9,677 shares in the last quarter. KBC Group NV lifted its holdings in Broadstone Net Lease by 15.1% during the 1st 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Broadstone Net Lease by 27.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 57,239 shares of the company's stock valued at $979,000 after buying an additional 12,284 shares in the last quarter. Institutional investors own 89.07% of the company's stock.

Broadstone Net Lease Price Performance

Broadstone Net Lease stock traded up $0.02 during mid-day trading on Friday, reaching $15.86. 661,166 shares of the company traded hands, compared to its average volume of 1,282,822. Broadstone Net Lease, Inc. has a fifty-two week low of $13.96 and a fifty-two week high of $19.15. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 25.99 and a beta of 1.00. The firm's fifty day moving average is $16.02 and its two-hundred day moving average is $16.08.

Broadstone Net Lease Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.16 dividend on an annualized basis and a yield of 7.32%. Broadstone Net Lease's payout ratio is 190.16%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BNL shares. Truist Financial upped their price target on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the stock a "hold" rating in a research report on Monday, May 5th. UBS Group cut their price target on Broadstone Net Lease from $17.00 to $16.00 and set a "neutral" rating on the stock in a report on Wednesday, July 16th. Finally, JMP Securities reiterated a "market outperform" rating and issued 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, two have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $18.50.

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.