Fairtree Asset Management Pty Ltd Buys New Stake in Broadstone Net Lease, Inc. (NYSE:BNL)

Fairtree Asset Management Pty Ltd acquired a new stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,051 shares of the company's stock, valued at approximately $413,000.

A number of other large investors have also recently added to or reduced their stakes in the business. State of Alaska Department of Revenue lifted its stake in Broadstone Net Lease by 1.0% during the fourth quarter. State of Alaska Department of Revenue now owns 90,318 shares of the company's stock worth $1,432,000 after purchasing an additional 882 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in Broadstone Net Lease by 3.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 23,826 shares of the company's stock worth $378,000 after purchasing an additional 892 shares in the last quarter. Corient Private Wealth LLC lifted its stake in Broadstone Net Lease by 2.2% during the fourth quarter. Corient Private Wealth LLC now owns 41,892 shares of the company's stock worth $664,000 after purchasing an additional 907 shares in the last quarter. Blue Trust Inc. lifted its stake in Broadstone Net Lease by 23.7% during the fourth quarter. Blue Trust Inc. now owns 4,827 shares of the company's stock worth $77,000 after purchasing an additional 925 shares in the last quarter. Finally, Evermay Wealth Management LLC lifted its stake in Broadstone Net Lease by 2.0% during the fourth quarter. Evermay Wealth Management LLC now owns 50,155 shares of the company's stock worth $798,000 after purchasing an additional 969 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on BNL shares. BMO Capital Markets set a $20.00 price target on Broadstone Net Lease and gave the stock an "outperform" rating in a research note on Monday, March 24th. UBS Group reduced their price objective on Broadstone Net Lease from $18.00 to $17.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Truist Financial increased their price objective on Broadstone Net Lease from $17.00 to $18.00 and gave the company a "hold" rating in a research note on Monday, May 5th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $21.00 price objective on shares of Broadstone Net Lease in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $18.67.

Broadstone Net Lease Price Performance

Shares of NYSE BNL traded down $0.02 during mid-day trading on Friday, hitting $15.93. The company had a trading volume of 1,381,132 shares, compared to its average volume of 1,239,827. The company has a market capitalization of $3.01 billion, a PE ratio of 18.31 and a beta of 1.04. Broadstone Net Lease, Inc. has a 1-year low of $13.96 and a 1-year high of $19.15. The business's 50-day simple moving average is $15.99 and its 200 day simple moving average is $16.25.

Broadstone Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 7.28%. The ex-dividend date of this dividend is Monday, June 30th. Broadstone Net Lease's dividend payout ratio (DPR) is presently 190.16%.

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.