MQS Management LLC Grows Position in Broadstone Net Lease, Inc. (NYSE:BNL)

MQS Management LLC boosted its holdings in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 394.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,185 shares of the company's stock after buying an additional 45,631 shares during the period. Broadstone Net Lease makes up 0.6% of MQS Management LLC's investment portfolio, making the stock its 11th biggest holding. MQS Management LLC's holdings in Broadstone Net Lease were worth $974,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in BNL. Norges Bank purchased a new position in shares of Broadstone Net Lease during the 4th quarter valued at $36,170,000. Bank of Montreal Can lifted its holdings in shares of Broadstone Net Lease by 603.9% during the 4th quarter. Bank of Montreal Can now owns 1,891,881 shares of the company's stock worth $30,005,000 after acquiring an additional 1,623,098 shares during the last quarter. Lighthouse Investment Partners LLC bought a new stake in Broadstone Net Lease in the fourth quarter worth $7,771,000. Bank of America Corp DE lifted 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 worth $12,077,000 after purchasing an additional 469,733 shares during the last quarter. Finally, Northern Trust Corp lifted its stake 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 worth $39,088,000 after purchasing an additional 410,767 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Broadstone Net Lease Stock Up 0.9%

NYSE:BNL traded up $0.14 during trading hours on Wednesday, hitting $15.89. 1,549,500 shares of the stock traded hands, compared to its average volume of 1,295,223. Broadstone Net Lease, Inc. has a 1 year low of $13.96 and a 1 year high of $19.15. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 26.04 and a beta of 1.00. The stock has a 50 day moving average price of $16.06 and a 200 day moving average price of $16.07.

Broadstone Net Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 7.30%. The ex-dividend date was Monday, June 30th. Broadstone Net Lease's dividend payout ratio (DPR) is presently 190.16%.

Wall Street Analyst Weigh In

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

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.