Broadstone Net Lease, Inc. (NYSE:BNL) Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC boosted its position in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 49.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,128 shares of the company's stock after purchasing an additional 17,481 shares during the period. ProShare Advisors LLC's holdings in Broadstone Net Lease were worth $843,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of BNL. Norges Bank purchased a new position in Broadstone Net Lease in the 4th quarter valued at approximately $36,170,000. Bank of Montreal Can increased its stake in Broadstone Net Lease by 603.9% in the 4th quarter. Bank of Montreal Can now owns 1,891,881 shares of the company's stock valued at $30,005,000 after purchasing an additional 1,623,098 shares in the last quarter. Lighthouse Investment Partners LLC purchased a new position in Broadstone Net Lease during the fourth quarter worth $7,771,000. Bank of America Corp DE increased its position in Broadstone Net Lease by 161.0% during the fourth quarter. Bank of America Corp DE now owns 761,471 shares of the company's stock worth $12,077,000 after buying an additional 469,733 shares in the last quarter. Finally, Northern Trust Corp increased its position in Broadstone Net Lease by 20.0% during the fourth quarter. Northern Trust Corp now owns 2,464,544 shares of the company's stock worth $39,088,000 after buying an additional 410,767 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BNL has been the subject of several recent research reports. BMO Capital Markets set a $20.00 price target on Broadstone Net Lease and gave the stock an "outperform" rating in a research report on Monday, March 24th. Truist Financial raised their price target on Broadstone Net Lease from $17.00 to $18.00 and gave the stock a "hold" rating in a research report on Monday, May 5th. UBS Group dropped their price target on Broadstone Net Lease from $18.00 to $17.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Finally, JMP Securities reissued a "market outperform" rating and set a $21.00 price target on shares of Broadstone Net Lease in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $18.67.

Broadstone Net Lease Stock Up 0.2%

Shares of BNL stock traded up $0.03 during mid-day trading on Wednesday, hitting $15.76. 2,418,499 shares of the company's stock were exchanged, compared to its average volume of 1,396,852. Broadstone Net Lease, Inc. has a fifty-two week low of $13.96 and a fifty-two week high of $19.15. The stock has a 50-day simple moving average of $16.04 and a two-hundred day simple moving average of $16.27. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 18.12 and a beta of 1.04.

Broadstone Net Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 7.36%. The ex-dividend date is Monday, June 30th. Broadstone Net Lease's payout ratio is currently 190.16%.

Broadstone Net Lease Company 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.