Massachusetts Financial Services Co. MA Has $7.28 Million Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Massachusetts Financial Services Co. MA cut its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 85.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 427,309 shares of the company's stock after selling 2,529,708 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.23% of Broadstone Net Lease worth $7,281,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of BNL. Raymond James Financial Inc. bought a new stake in shares of Broadstone Net Lease in the fourth quarter worth about $4,791,000. PNC Financial Services Group Inc. increased its holdings in shares of Broadstone Net Lease by 58.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,842 shares of the company's stock worth $172,000 after acquiring an additional 4,017 shares in the last quarter. Swiss National Bank increased its holdings in shares of Broadstone Net Lease by 0.5% in the fourth quarter. Swiss National Bank now owns 370,800 shares of the company's stock worth $5,881,000 after acquiring an additional 1,700 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Broadstone Net Lease by 1.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 99,275 shares of the company's stock worth $1,575,000 after acquiring an additional 1,665 shares in the last quarter. Finally, Natixis Advisors LLC increased its holdings in shares of Broadstone Net Lease by 4.3% in the fourth quarter. Natixis Advisors LLC now owns 119,240 shares of the company's stock worth $1,891,000 after acquiring an additional 4,968 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BNL has been the subject of several recent research reports. JMP Securities reaffirmed a "market outperform" rating and set a $21.00 price objective on shares of Broadstone Net Lease in a research report on Monday, June 2nd. UBS Group reduced their price objective on Broadstone Net Lease from $17.00 to $16.00 and set a "neutral" rating for the company in a research report on Wednesday. Truist Financial upped their price objective on Broadstone Net Lease from $17.00 to $18.00 and gave the stock a "hold" rating in a research report on Monday, May 5th. Finally, BMO Capital Markets set a $20.00 price objective on Broadstone Net Lease and gave the stock an "outperform" rating in a research report on Monday, March 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $18.50.

Broadstone Net Lease Stock Up 0.2%

NYSE:BNL opened at $15.78 on Friday. The stock's 50 day moving average price is $16.04 and its two-hundred day moving average price is $16.07. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 25.87 and a beta of 1.00. Broadstone Net Lease, Inc. has a 12-month low of $13.96 and a 12-month high of $19.15.

Broadstone Net Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.29 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.16 annualized dividend and a yield of 7.35%. Broadstone Net Lease's dividend 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.

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