Broadstone Net Lease, Inc. (NYSE:BNL) Shares Sold by Millennium Management LLC

Millennium Management LLC reduced its position in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 70.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,121,428 shares of the company's stock after selling 2,612,032 shares during the period. Millennium Management LLC owned about 0.59% of Broadstone Net Lease worth $17,786,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Federated Hermes Inc. grew its holdings in Broadstone Net Lease by 73,833.3% during the 4th quarter. Federated Hermes Inc. now owns 2,218 shares of the company's stock valued at $35,000 after buying an additional 2,215 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Broadstone Net Lease by 139.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company's stock valued at $43,000 after buying an additional 1,592 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in 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 valued at $46,000 after buying an additional 1,918 shares during the last quarter. Quarry LP acquired a new stake in Broadstone Net Lease during the 4th quarter valued at $57,000. Finally, Assetmark Inc. grew its holdings in Broadstone Net Lease by 345.1% during the 4th quarter. Assetmark Inc. now owns 4,464 shares of the company's stock valued at $71,000 after buying an additional 3,461 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BNL has been the topic of a number of analyst reports. UBS Group lowered their target price on Broadstone Net Lease from $18.00 to $17.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Truist Financial increased their target price on Broadstone Net Lease from $17.00 to $18.00 and gave the company a "hold" rating in a report on Monday, May 5th. JMP Securities reiterated a "market outperform" rating and set a $21.00 target price on shares of Broadstone Net Lease in a 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 report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $18.67.

Broadstone Net Lease Stock Up 1.6%

Shares of BNL stock traded up $0.25 during mid-day trading on Tuesday, hitting $15.71. 3,542,808 shares of the company's stock were exchanged, compared to its average volume of 1,220,801. 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 50-day simple moving average of $16.04 and a two-hundred day simple moving average of $16.27. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 18.06 and a beta of 1.04.

Broadstone Net Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 7.38%. The ex-dividend date is Monday, June 30th. Broadstone Net Lease's payout ratio is currently 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.