HighTower Advisors LLC Has $3.04 Million Holdings in Broadstone Net Lease, Inc. $BNL

Key Points

• HighTower Advisors LLC reduced its stake in Broadstone Net Lease, Inc. by 10.2%, selling 20,245 shares to hold a total of 178,458 shares worth approximately $3,041,000.
• Broadstone Net Lease is receiving positive attention from analysts, with several upgrades; Goldman Sachs raised its rating from "sell" to "buy" and set a price target of $21.00.
• The company has announced a quarterly dividend of $0.29, representing an annualized yield of 6.5%, with a payout ratio currently at 223.08%.

HighTower Advisors LLC reduced its position in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 10.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 178,458 shares of the company's stock after selling 20,245 shares during the quarter. HighTower Advisors LLC owned about 0.09% of Broadstone Net Lease worth $3,041,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its position in shares of Broadstone Net Lease by 192.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,914 shares of the company's stock worth $46,000 after acquiring an additional 1,918 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in Broadstone Net Lease during the fourth quarter valued at approximately $54,000. Quarry LP acquired a new position in Broadstone Net Lease during the fourth quarter valued at approximately $57,000. KBC Group NV lifted its stake in Broadstone Net Lease by 15.1% during the first quarter. KBC Group NV now owns 9,094 shares of the company's stock worth $155,000 after purchasing an additional 1,193 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new stake in shares of Broadstone Net Lease in the 4th quarter valued at $183,000. Institutional investors own 89.07% of the company's stock.

Broadstone Net Lease Trading Up 2.4%

BNL traded up $0.4280 during trading on Friday, reaching $18.2280. 3,932,225 shares of the company's stock were exchanged, compared to its average volume of 1,624,729. Broadstone Net Lease, Inc. has a one year low of $13.96 and a one year high of $19.15. The firm has a fifty day moving average price of $16.34 and a two-hundred day moving average price of $16.22. The stock has a market capitalization of $3.45 billion, a PE ratio of 35.05 and a beta of 1.00.

Broadstone Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date is Tuesday, September 30th. Broadstone Net Lease's dividend payout ratio (DPR) is 223.08%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BNL. UBS Group boosted their price target on Broadstone Net Lease from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Friday, August 15th. KeyCorp upgraded Broadstone Net Lease from a "sector weight" rating to an "overweight" rating and set a $20.00 target price on the stock in a research report on Tuesday, August 19th. Wall Street Zen cut shares of Broadstone Net Lease from a "hold" rating to a "sell" rating in a report on Friday. The Goldman Sachs Group upgraded shares of Broadstone Net Lease from a "sell" rating to a "buy" rating and set a $21.00 price target on the stock in a research note on Thursday. Finally, Wolfe Research raised shares of Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 price target on the stock in a report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $19.43.

Broadstone Net Lease Company 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.