GAMMA Investing LLC Increases Stake in Broadstone Net Lease, Inc. (NYSE:BNL)

GAMMA Investing LLC grew its position in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 1,466.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,711 shares of the company's stock after purchasing an additional 29,686 shares during the quarter. GAMMA Investing LLC's holdings in Broadstone Net Lease were worth $540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Geode Capital Management LLC boosted its position 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 purchasing an additional 15,501 shares during the period. Centersquare Investment Management LLC boosted its position 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 purchasing an additional 265,428 shares during the period. Aew Capital Management L P boosted 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 worth $49,736,000 after purchasing an additional 69,690 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Broadstone Net Lease by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,077,513 shares of the company's stock worth $48,809,000 after purchasing an additional 71,709 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Broadstone Net Lease by 20.0% in the fourth quarter. Northern Trust Corp now owns 2,464,544 shares of the company's stock worth $39,088,000 after purchasing an additional 410,767 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BNL. UBS Group dropped their price target on shares of Broadstone Net Lease from $18.00 to $17.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. JMP Securities restated a "market outperform" rating and set a $21.00 target price on shares of Broadstone Net Lease in a research report on Monday, June 2nd. BMO Capital Markets set a $20.00 target price on shares of Broadstone Net Lease and gave the stock an "outperform" rating in a research report on Monday, March 24th. Finally, Truist Financial upped their target price 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Broadstone Net Lease presently has an average rating of "Moderate Buy" and an average price target of $18.67.

Broadstone Net Lease Stock Up 0.3%

Broadstone Net Lease stock opened at $16.25 on Thursday. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 26.63 and a beta of 1.00. The firm's fifty day moving average is $15.97 and its 200 day moving average is $16.15. Broadstone Net Lease, Inc. has a 52-week low of $13.96 and a 52-week high of $19.15.

Broadstone Net Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 7.14%. The ex-dividend date of this dividend is Monday, June 30th. Broadstone Net Lease's dividend payout ratio is currently 190.16%.

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.

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