Nuveen LLC Makes New $28.13 Million Investment in Broadstone Net Lease, Inc. $BNL

Nuveen LLC bought a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,650,623 shares of the company's stock, valued at approximately $28,127,000. Nuveen LLC owned about 0.87% of Broadstone Net Lease as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in Broadstone Net Lease by 1.0% in the 1st 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 in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Broadstone Net Lease by 2.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,145,709 shares of the company's stock worth $53,603,000 after acquiring an additional 68,196 shares during the last quarter. Northern Trust Corp lifted its position in shares of Broadstone Net Lease by 20.0% in the 4th 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 period. Allianz Asset Management GmbH lifted its position in shares of Broadstone Net Lease by 87.3% during 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 period. Finally, Systematic Financial Management LP lifted its position in shares of Broadstone Net Lease by 43.1% during the 4th quarter. Systematic Financial Management LP now owns 1,069,837 shares of the company's stock valued at $16,968,000 after acquiring an additional 322,131 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. The Goldman Sachs Group upgraded shares of Broadstone Net Lease from a "sell" rating to a "buy" rating and set a $21.00 price objective on the stock in a report on Thursday. JMP Securities restated a "market outperform" rating and issued a $21.00 price objective on shares of Broadstone Net Lease in a research report on Monday, June 2nd. Wall Street Zen raised shares of Broadstone Net Lease from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Truist Financial lifted their price target on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the stock a "hold" rating in a research note on Monday, May 5th. Finally, UBS Group raised their target price on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Broadstone Net Lease has an average rating of "Moderate Buy" and a consensus target price of $19.43.

Broadstone Net Lease Trading Up 3.1%

Broadstone Net Lease stock traded up $0.5570 during midday trading on Friday, hitting $18.3570. The stock had a trading volume of 729,115 shares, compared to its average volume of 1,469,126. Broadstone Net Lease, Inc. has a 52-week low of $13.96 and a 52-week high of $19.15. The firm's fifty day moving average is $16.30 and its two-hundred day moving average is $16.20. The company has a market capitalization of $3.47 billion, a PE ratio of 35.32 and a beta of 1.00.

Broadstone Net Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $0.29 dividend. 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 dividend payout ratio (DPR) is currently 223.08%.

Broadstone Net Lease 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.