MQS Management LLC Has $974,000 Stake in Broadstone Net Lease, Inc. (NYSE:BNL)

MQS Management LLC boosted its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 394.9% during the first quarter, according to its most recent disclosure with the Securities & 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 approximately 0.6% of MQS Management LLC's investment portfolio, making the stock its 11th largest position. MQS Management LLC's holdings in Broadstone Net Lease were worth $974,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Xponance Inc. boosted its position in Broadstone Net Lease by 5.3% during the 1st quarter. Xponance Inc. now owns 14,298 shares of the company's stock worth $244,000 after buying an additional 721 shares during the period. Envestnet Asset Management Inc. raised its holdings in Broadstone Net Lease by 20.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 543,987 shares of the company's stock worth $9,270,000 after purchasing an additional 92,909 shares during the last quarter. Penserra Capital Management LLC raised its holdings in Broadstone Net Lease by 21.0% during the 1st quarter. Penserra Capital Management LLC now owns 64,827 shares of the company's stock worth $1,104,000 after purchasing an additional 11,272 shares during the last quarter. Meritage Portfolio Management raised its holdings in Broadstone Net Lease by 33.9% during the 1st quarter. Meritage Portfolio Management now owns 386,997 shares of the company's stock worth $6,594,000 after purchasing an additional 97,892 shares during the last quarter. Finally, Prairiewood Capital LLC raised its holdings in Broadstone Net Lease by 3.0% during the 1st quarter. Prairiewood Capital LLC now owns 327,021 shares of the company's stock worth $5,572,000 after purchasing an additional 9,677 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BNL has been the subject of several research analyst reports. JMP Securities reiterated 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. Truist Financial lifted their price objective on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the company a "hold" rating in a research note on Monday, May 5th. 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 note on Monday, March 24th. Finally, UBS Group decreased their price target on shares of Broadstone Net Lease from $18.00 to $17.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $18.67.

Broadstone Net Lease Stock Up 0.1%

BNL stock opened at $16.03 on Friday. Broadstone Net Lease, Inc. has a twelve month low of $13.96 and a twelve month high of $19.15. The stock has a market cap of $3.03 billion, a P/E ratio of 26.28 and a beta of 1.00. The business's 50-day moving average price is $16.07 and its 200-day moving average price is $16.08.

Broadstone Net Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.29 per share. The ex-dividend date is Monday, June 30th. This represents a $1.16 annualized dividend and a yield of 7.24%. Broadstone Net Lease's payout ratio is presently 190.16%.

About Broadstone Net Lease

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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