Nuveen Asset Management LLC Cuts Stake in Broadstone Net Lease, Inc. (NYSE:BNL)

Nuveen Asset Management LLC cut its holdings in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 26.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 777,172 shares of the company's stock after selling 281,928 shares during the quarter. Nuveen Asset Management LLC owned 0.41% of Broadstone Net Lease worth $12,326,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BNL. Federated Hermes Inc. lifted its holdings in shares of 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 period. EverSource Wealth Advisors LLC increased its stake in Broadstone Net Lease by 139.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company's stock worth $43,000 after buying an additional 1,592 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Broadstone Net Lease by 192.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,914 shares of the company's stock worth $46,000 after buying an additional 1,918 shares in the last quarter. Quarry LP purchased a new stake in Broadstone Net Lease in the 4th quarter worth $57,000. Finally, Assetmark Inc. increased its stake in Broadstone Net Lease by 345.1% in the 4th quarter. Assetmark Inc. now owns 4,464 shares of the company's stock worth $71,000 after buying an additional 3,461 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BNL shares. Truist Financial increased their price target on Broadstone Net Lease from $17.00 to $18.00 and gave the stock a "hold" rating in a research note on Monday, May 5th. BMO Capital Markets set a $20.00 price target on Broadstone Net Lease and gave the stock an "outperform" rating in a research note on Monday, March 24th. 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, May 5th. Finally, UBS Group reduced 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. One analyst has rated the stock with a sell rating, three 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $18.67.

Broadstone Net Lease Stock Down 0.1%

NYSE BNL traded down $0.02 during trading on Friday, hitting $15.93. 1,381,132 shares of the stock traded hands, compared to its average volume of 1,240,653. The company has a market capitalization of $3.01 billion, a P/E ratio of 18.31 and a beta of 1.04. The firm has a 50-day simple moving average of $15.97 and a 200-day simple moving average of $16.24. Broadstone Net Lease, Inc. has a 12-month low of $13.96 and a 12-month high of $19.15.

Broadstone Net Lease Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.28%. The ex-dividend date is Monday, June 30th. Broadstone Net Lease's dividend payout ratio (DPR) 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.