Landscape Capital Management L.L.C. Has $326,000 Stake in Broadstone Net Lease, Inc. $BNL

Key Points

• Landscape Capital Management L.L.C. decreased its holdings in Broadstone Net Lease, Inc. by 50.1%, ending up with 19,124 shares valued at $326,000.
• Broadstone Net Lease recently declared a quarterly dividend of $0.29 per share, with an annual yield of 6.2% and a payout ratio of 223.08%.
• Analysts have mixed sentiments regarding Broadstone Net Lease, with ratings ranging from "sell" to "strong buy", and a consensus price target of $19.43.

Landscape Capital Management L.L.C. trimmed its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 50.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,124 shares of the company's stock after selling 19,188 shares during the period. Landscape Capital Management L.L.C.'s holdings in Broadstone Net Lease were worth $326,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Broadstone Net Lease by 1.0% during the first quarter. Vanguard Group Inc. now owns 27,711,994 shares of the company's stock worth $472,212,000 after purchasing an additional 266,900 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Broadstone Net Lease by 2.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,145,709 shares of the company's stock valued at $53,603,000 after buying an additional 68,196 shares during the period. Northern Trust Corp lifted its holdings in Broadstone Net Lease by 20.0% in the fourth quarter. Northern Trust Corp now owns 2,464,544 shares of the company's stock valued at $39,088,000 after buying an additional 410,767 shares during the period. Nuveen LLC acquired a new position in Broadstone Net Lease in the first quarter valued at approximately $28,127,000. Finally, Allianz Asset Management GmbH lifted its holdings in Broadstone Net Lease by 87.3% in the first quarter. Allianz Asset Management GmbH now owns 1,288,892 shares of the company's stock valued at $21,963,000 after buying an additional 600,633 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Broadstone Net Lease Price Performance

BNL traded up $0.14 during mid-day trading on Wednesday, hitting $18.60. The stock had a trading volume of 1,499,951 shares, compared to its average volume of 1,587,044. The stock's fifty day simple moving average is $16.69 and its 200-day simple moving average is $16.38. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 35.78 and a beta of 1.01. Broadstone Net Lease, Inc. has a 1-year low of $13.96 and a 1-year high of $19.15.

Broadstone Net Lease Announces Dividend

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

Analyst Ratings Changes

Several brokerages recently weighed in on BNL. Wall Street Zen lowered shares of Broadstone Net Lease from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. 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. The Goldman Sachs Group upgraded shares of Broadstone Net Lease from a "sell" rating to a "buy" rating and set a $21.00 price objective on the stock in a report on Thursday, August 21st. KeyCorp upgraded shares of Broadstone Net Lease from a "sector weight" rating to an "overweight" rating and set a $20.00 price objective on the stock in a report on Tuesday, August 19th. Finally, UBS Group increased their price objective on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $19.43.

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.