MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $8.23 Million Stake 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. cut its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 8.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 482,676 shares of the company's stock after selling 45,759 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.26% of Broadstone Net Lease worth $8,225,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in 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 during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Broadstone Net Lease by 1.1% in the 1st quarter. Alliancebernstein L.P. now owns 4,666,417 shares of the company's stock valued at $79,516,000 after acquiring an additional 51,754 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Broadstone Net Lease by 2.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,145,709 shares of the company's stock valued at $53,603,000 after acquiring an additional 68,196 shares during the last quarter. Nuveen LLC bought a new position in shares of Broadstone Net Lease in the 1st quarter valued at $28,127,000. Finally, Allianz Asset Management GmbH lifted its stake in shares of Broadstone Net Lease by 87.3% in the 1st quarter. Allianz Asset Management GmbH now owns 1,288,892 shares of the company's stock valued at $21,963,000 after acquiring an additional 600,633 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BNL. Wall Street Zen cut Broadstone Net Lease from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. JMP Securities reiterated a "market outperform" rating and issued a $21.00 price target on shares of Broadstone Net Lease in a research note on Monday, June 2nd. Wolfe Research upgraded Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 price target for the company in a research note on Monday, July 28th. KeyCorp upgraded Broadstone Net Lease from a "sector weight" rating to an "overweight" rating and set a $20.00 price objective for the company in a report on Tuesday, August 19th. Finally, The Goldman Sachs Group upgraded Broadstone Net Lease from a "sell" rating to a "buy" rating and set a $21.00 price objective for the company in a report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $19.43.

Broadstone Net Lease Price Performance

Shares of BNL traded down $0.10 during trading hours on Tuesday, hitting $18.50. The stock had a trading volume of 1,303,680 shares, compared to its average volume of 1,552,142. The firm has a market capitalization of $3.50 billion, a P/E ratio of 35.58 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. The firm has a 50 day simple moving average of $17.13 and a 200-day simple moving average of $16.53.

Broadstone Net Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid 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 6.3%. Broadstone Net Lease's payout ratio is 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.