Broadstone Net Lease, Inc. $BNL Shares Purchased by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in Broadstone Net Lease, Inc. (BNL) by 10.4%, now owning approximately 926,201 shares valued at $15.78 million as of its latest SEC filing.
• The company declared a quarterly dividend of $0.29, resulting in an annualized yield of 6.4%, with an ex-dividend date of September 30th.
• Broadstone Net Lease's stock received mixed ratings from analysts, with some upgrades to a "buy" rating but also a downgrade to "sell" from Wall Street Zen, alongside a consensus price target of $19.43.

Hsbc Holdings PLC boosted its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 10.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 926,201 shares of the company's stock after buying an additional 87,100 shares during the quarter. Hsbc Holdings PLC owned 0.49% of Broadstone Net Lease worth $15,781,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Cascade Financial Partners LLC increased its holdings in shares of Broadstone Net Lease by 4.3% during the 1st quarter. Cascade Financial Partners LLC now owns 375,375 shares of the company's stock valued at $6,396,000 after purchasing an additional 15,507 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Broadstone Net Lease by 4.7% during the 1st quarter. American Century Companies Inc. now owns 77,201 shares of the company's stock valued at $1,316,000 after purchasing an additional 3,444 shares in the last quarter. Aberdeen Group plc increased its holdings in shares of Broadstone Net Lease by 3.6% during the 1st quarter. Aberdeen Group plc now owns 50,946 shares of the company's stock valued at $868,000 after purchasing an additional 1,764 shares in the last quarter. Boston Partners purchased a new position in shares of Broadstone Net Lease during the 1st quarter valued at approximately $8,071,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Broadstone Net Lease by 14.9% during the 1st quarter. Russell Investments Group Ltd. now owns 902,686 shares of the company's stock valued at $15,382,000 after purchasing an additional 117,034 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BNL has been the subject of several recent research reports. JMP Securities reaffirmed a "market outperform" rating and set a $21.00 target price on shares of Broadstone Net Lease in a report on Monday, June 2nd. The Goldman Sachs Group raised shares of Broadstone Net Lease from a "sell" rating to a "buy" rating and set a $21.00 target price on the stock in a research note on Thursday, August 21st. Wolfe Research raised shares of Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 target price on the stock in a research note on Monday, July 28th. Wall Street Zen cut shares of Broadstone Net Lease from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Finally, KeyCorp raised shares of Broadstone Net Lease from a "sector weight" rating to an "overweight" rating and set a $20.00 price target on the stock in a research report on Tuesday, August 19th. 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $19.43.

Broadstone Net Lease Stock Up 0.8%

NYSE:BNL traded up $0.16 on Friday, reaching $18.61. 170,385 shares of the company's stock were exchanged, compared to its average volume of 1,478,843. Broadstone Net Lease, Inc. has a 52-week low of $13.96 and a 52-week high of $19.15. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 35.78 and a beta of 1.00. The business has a fifty day moving average of $16.51 and a 200-day moving average of $16.29.

Broadstone Net Lease Dividend Announcement

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. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.2%. Broadstone Net Lease's payout ratio is currently 223.08%.

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.