Fairtree Asset Management Pty Ltd Invests $413,000 in Broadstone Net Lease, Inc. (NYSE:BNL)

Fairtree Asset Management Pty Ltd bought a new position in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 26,051 shares of the company's stock, valued at approximately $413,000.

Several other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in Broadstone Net Lease by 1.6% in the 4th quarter. Principal Financial Group Inc. now owns 14,276,250 shares of the company's stock worth $226,423,000 after buying an additional 227,833 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Broadstone Net Lease by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 4,860,444 shares of the company's stock worth $77,103,000 after acquiring an additional 15,501 shares during the period. Centersquare Investment Management LLC boosted its holdings in shares of Broadstone Net Lease by 7.1% in the fourth quarter. Centersquare Investment Management LLC now owns 4,011,419 shares of the company's stock worth $63,621,000 after acquiring an additional 265,428 shares during the period. Aew Capital Management L P grew its position in shares of Broadstone Net Lease by 2.3% in the fourth quarter. Aew Capital Management L P now owns 3,135,949 shares of the company's stock valued at $49,736,000 after purchasing an additional 69,690 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Broadstone Net Lease by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,077,513 shares of the company's stock valued at $48,809,000 after purchasing an additional 71,709 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Broadstone Net Lease Trading Down 0.1%

Shares of BNL stock traded down $0.02 during mid-day trading on Friday, reaching $15.93. The stock had a trading volume of 1,381,132 shares, compared to its average volume of 1,240,653. The stock's 50-day moving average price is $15.97 and its two-hundred day moving average price is $16.24. The firm 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 52-week low of $13.96 and a 52-week high of $19.15.

Broadstone Net Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders 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 is Monday, June 30th. Broadstone Net Lease's dividend payout ratio (DPR) is currently 190.16%.

Analysts Set New Price Targets

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

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.