Prairiewood Capital LLC Grows Stake in Broadstone Net Lease, Inc. $BNL

Key Points

• Prairiewood Capital LLC has increased its stake in Broadstone Net Lease, Inc. by 4.4%, acquiring a total of 341,334 shares worth approximately $5.478 million as of their latest SEC filing.
• Broadstone Net Lease recently announced a quarterly dividend of $0.29 per share, equating to an annualized yield of 6.4%, while its current payout ratio stands at 223.08%.
• The stock has received several ratings upgrades from various analysts, with a consensus rating of "Moderate Buy" and an average price target of $19.43.

Prairiewood Capital LLC increased its stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 4.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 341,334 shares of the company's stock after acquiring an additional 14,313 shares during the period. Broadstone Net Lease makes up approximately 2.0% of Prairiewood Capital LLC's investment portfolio, making the stock its 13th biggest position. Prairiewood Capital LLC owned 0.18% of Broadstone Net Lease worth $5,478,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio lifted its stake in Broadstone Net Lease by 1.7% in the second quarter. Public Employees Retirement System of Ohio now owns 271,402 shares of the company's stock worth $4,356,000 after purchasing an additional 4,466 shares during the last quarter. Arrow Investment Advisors LLC purchased a new position in Broadstone Net Lease in the second quarter worth $172,000. BTC Capital Management Inc. grew its holdings in shares of Broadstone Net Lease by 9.9% during the second quarter. BTC Capital Management Inc. now owns 158,289 shares of the company's stock valued at $2,505,000 after buying an additional 14,318 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Broadstone Net Lease by 11.7% during the second quarter. Exchange Traded Concepts LLC now owns 101,199 shares of the company's stock valued at $1,624,000 after buying an additional 10,575 shares during the last quarter. Finally, Post Resch Tallon Group Inc. grew its holdings in shares of Broadstone Net Lease by 0.6% during the second quarter. Post Resch Tallon Group Inc. now owns 296,961 shares of the company's stock valued at $4,766,000 after buying an additional 1,723 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Broadstone Net Lease Trading Up 1.1%

BNL stock opened at $18.11 on Friday. The company has a market cap of $3.42 billion, a P/E ratio of 34.82 and a beta of 1.01. The company's 50-day moving average price is $17.51 and its 200 day moving average price is $16.61. Broadstone Net Lease, Inc. has a 52 week low of $13.96 and a 52 week high of $19.15.

Broadstone Net Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given 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 6.4%. Broadstone Net Lease's payout ratio is presently 223.08%.

Analyst Ratings Changes

BNL has been the subject of a number of research reports. Wolfe Research upgraded shares of Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 target price for the company in a research report on Monday, July 28th. KeyCorp upgraded shares of Broadstone Net Lease from a "sector weight" rating to an "overweight" rating and set a $20.00 price target for the company in a research report on Tuesday, August 19th. JMP Securities restated a "market outperform" rating and set a $21.00 price target on shares of Broadstone Net Lease in a research report on Monday, June 2nd. UBS Group increased their price objective on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Friday, August 15th. Finally, 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 for the company in a report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $19.43.

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.

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