Prime Capital Investment Advisors LLC Decreases Position in Broadstone Net Lease, Inc. $BNL

Prime Capital Investment Advisors LLC decreased its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 7.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 236,966 shares of the company's stock after selling 20,079 shares during the quarter. Prime Capital Investment Advisors LLC owned approximately 0.13% of Broadstone Net Lease worth $3,803,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Broadstone Net Lease by 1,466.0% during the first quarter. GAMMA Investing LLC now owns 31,711 shares of the company's stock worth $540,000 after purchasing an additional 29,686 shares during the last quarter. Jane Street Group LLC lifted its stake in Broadstone Net Lease by 292.3% in the first quarter. Jane Street Group LLC now owns 553,738 shares of the company's stock valued at $9,436,000 after buying an additional 412,604 shares during the last quarter. Meritage Portfolio Management lifted its stake in Broadstone Net Lease by 33.9% in the first quarter. Meritage Portfolio Management now owns 386,997 shares of the company's stock valued at $6,594,000 after buying an additional 97,892 shares during the last quarter. LPL Financial LLC lifted its stake in Broadstone Net Lease by 17.1% in the first quarter. LPL Financial LLC now owns 131,654 shares of the company's stock valued at $2,243,000 after buying an additional 19,190 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Broadstone Net Lease by 20.6% in the first quarter. Envestnet Asset Management Inc. now owns 543,987 shares of the company's stock valued at $9,270,000 after buying an additional 92,909 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on BNL. The Goldman Sachs Group upgraded Broadstone Net Lease from a "sell" rating to a "buy" rating and set a $21.00 price objective for the company in a research note on Thursday, August 21st. 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, September 29th. Cantor Fitzgerald began coverage on Broadstone Net Lease in a research note on Wednesday, October 1st. They issued an "overweight" rating and a $21.00 price objective for the company. Wall Street Zen upgraded Broadstone Net Lease from a "sell" rating to a "hold" rating in a research note on Friday, October 3rd. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Broadstone Net Lease in a report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Broadstone Net Lease currently has an average rating of "Moderate Buy" and a consensus target price of $19.89.

Broadstone Net Lease Trading Down 0.3%

NYSE:BNL opened at $18.56 on Wednesday. The firm has a market cap of $3.51 billion, a P/E ratio of 35.68 and a beta of 1.00. The stock's 50 day simple moving average is $17.85 and its 200-day simple moving average is $16.67. Broadstone Net Lease, Inc. has a 12-month low of $13.96 and a 12-month high of $18.85.

Broadstone Net Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend is Tuesday, September 30th. Broadstone Net Lease's dividend payout ratio 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.

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