Broadstone Net Lease, Inc. $BNL Shares Bought by Kestra Investment Management LLC

Key Points

• Kestra Investment Management LLC increased its stake in Broadstone Net Lease, Inc. by 41.4%, now owning 73,355 shares valued at $1,250,000.
• Broadstone's shares have garnered positive ratings from several analysts, with Wolfe Research upgrading the stock to "outperform" and setting a price objective of $19.00.
• The company announced a quarterly dividend of $0.29, yielding 6.2%, with a payout ratio of 223.08% for the year.

Kestra Investment Management LLC boosted its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 41.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,355 shares of the company's stock after purchasing an additional 21,493 shares during the period. Kestra Investment Management LLC's holdings in Broadstone Net Lease were worth $1,250,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in BNL. Tower Research Capital LLC TRC grew its stake in Broadstone Net Lease by 192.6% in 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. bought a new position in shares of Broadstone Net Lease during the fourth quarter valued at approximately $54,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Broadstone Net Lease during the first quarter valued at approximately $115,000. KBC Group NV boosted its stake in shares of Broadstone Net Lease by 15.1% during the first quarter. KBC Group NV now owns 9,094 shares of the company's stock valued at $155,000 after purchasing an additional 1,193 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. purchased a new stake in Broadstone Net Lease during the fourth quarter valued at approximately $183,000. 89.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BNL has been the subject of a number of analyst reports. JMP Securities reissued 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. Wolfe Research raised 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 report on Monday, July 28th. Wall Street Zen cut shares of Broadstone Net Lease from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. UBS Group raised their target price on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Friday, August 15th. Finally, KeyCorp raised shares of Broadstone Net Lease from a "sector weight" rating to an "overweight" rating and set a $20.00 target price for the company in a report on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Broadstone Net Lease has a consensus rating of "Moderate Buy" and a consensus price target of $19.43.

Broadstone Net Lease Stock Up 0.1%

Shares of NYSE BNL traded up $0.03 during trading on Friday, hitting $18.79. The company had a trading volume of 759,751 shares, compared to its average volume of 1,556,566. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 36.13 and a beta of 1.01. Broadstone Net Lease, Inc. has a fifty-two week low of $13.96 and a fifty-two week high of $19.15. The stock has a fifty day simple moving average of $17.03 and a two-hundred day simple moving average of $16.51.

Broadstone Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.29 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.16 dividend on an annualized basis and a yield of 6.2%. Broadstone Net Lease's payout ratio is presently 223.08%.

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.