MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Reduces Position in Broadstone Net Lease, Inc. $BNL

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in Broadstone Net Lease, Inc. by 8.7% during the first quarter, holding a total of 482,676 shares valued at approximately $8.2 million.
• Multiple analysts have issued varying ratings on Broadstone Net Lease, with some upgrading the stock to "outperform," while others have downgraded it to "sell," leading to an average rating of "Moderate Buy" and a consensus price target of $19.43.
• The company announced a $0.29 quarterly dividend, representing a 6.2% yield, with a high payout ratio of 223.08%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. decreased its stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 482,676 shares of the company's stock after selling 45,759 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.26% of Broadstone Net Lease worth $8,225,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BNL. Tower Research Capital LLC TRC boosted its stake in Broadstone Net Lease by 192.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,914 shares of the company's stock valued at $46,000 after acquiring an additional 1,918 shares in the last quarter. Stifel Financial Corp boosted its stake in Broadstone Net Lease by 12.6% in the fourth quarter. Stifel Financial Corp now owns 17,415 shares of the company's stock valued at $276,000 after acquiring an additional 1,945 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Broadstone Net Lease in the fourth quarter valued at $355,000. Bank of America Corp DE boosted its stake in Broadstone Net Lease by 161.0% in the fourth quarter. Bank of America Corp DE now owns 761,471 shares of the company's stock valued at $12,077,000 after acquiring an additional 469,733 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in Broadstone Net Lease by 27.4% in the fourth quarter. Deutsche Bank AG now owns 245,444 shares of the company's stock valued at $3,893,000 after acquiring an additional 52,718 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BNL shares. Wolfe Research upgraded shares of Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 price objective for the company in a research note on Monday, July 28th. JMP Securities restated a "market outperform" rating and issued a $21.00 price objective on shares of Broadstone Net Lease in a research note on Monday, June 2nd. KeyCorp upgraded shares of Broadstone Net Lease from a "sector weight" rating to an "overweight" rating and set a $20.00 price target for the company in a research note on Tuesday, August 19th. 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, The Goldman Sachs Group upgraded shares of Broadstone Net Lease from a "sell" rating to a "buy" rating and set a $21.00 price target for the company in a research note on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $19.43.

Broadstone Net Lease Price Performance

Shares of NYSE:BNL opened at $18.63 on Thursday. The stock has a market cap of $3.52 billion, a P/E ratio of 35.82 and a beta of 1.01. The firm has a fifty day moving average price of $16.93 and a 200 day moving average price of $16.48. Broadstone Net Lease, Inc. has a 1-year low of $13.96 and a 1-year high of $19.15.

Broadstone Net Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.16 annualized dividend and a dividend 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.

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