GAMMA Investing LLC Purchases 29,686 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

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

A number of other institutional investors also recently modified their holdings of BNL. Federated Hermes Inc. boosted its holdings in shares of Broadstone Net Lease by 73,833.3% during the fourth quarter. Federated Hermes Inc. now owns 2,218 shares of the company's stock worth $35,000 after purchasing an additional 2,215 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Broadstone Net Lease by 139.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company's stock worth $43,000 after buying an additional 1,592 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Broadstone Net Lease by 192.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,914 shares of the company's stock worth $46,000 after buying an additional 1,918 shares during the period. GF Fund Management CO. LTD. purchased a new stake in Broadstone Net Lease in the fourth quarter worth about $54,000. Finally, Quarry LP purchased a new stake in Broadstone Net Lease in the fourth quarter worth about $57,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BNL has been the subject of several research analyst reports. Truist Financial raised their price objective 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 restated a "market outperform" rating and issued a $21.00 price objective on shares of Broadstone Net Lease in a report on Monday, June 2nd. UBS Group lowered their price objective on shares of Broadstone Net Lease from $18.00 to $17.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Finally, BMO Capital Markets set a $20.00 price objective on shares of Broadstone Net Lease and gave the stock an "outperform" rating in a report on Monday, March 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $18.67.

Broadstone Net Lease Stock Up 0.1%

Shares of BNL stock traded up $0.01 during trading hours on Friday, hitting $16.27. 2,068,893 shares of the company's stock traded hands, compared to its average volume of 1,273,687. The stock's fifty day simple moving average is $16.02 and its two-hundred day simple moving average is $16.13. Broadstone Net Lease, Inc. has a 12-month low of $13.96 and a 12-month high of $19.15. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 26.68 and a beta of 1.00.

Broadstone Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.16 annualized dividend and a dividend yield of 7.13%. Broadstone Net Lease's payout ratio is 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.