ProShare Advisors LLC Has $843,000 Position in Broadstone Net Lease, Inc. (NYSE:BNL)

ProShare Advisors LLC lifted its position in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 49.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,128 shares of the company's stock after purchasing an additional 17,481 shares during the quarter. ProShare Advisors LLC's holdings in Broadstone Net Lease were worth $843,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Nissay Asset Management Corp Japan ADV raised its stake in Broadstone Net Lease by 4.0% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 28,342 shares of the company's stock worth $452,000 after acquiring an additional 1,080 shares in the last quarter. Lazard Asset Management LLC raised its stake in Broadstone Net Lease by 34.1% during the fourth quarter. Lazard Asset Management LLC now owns 76,592 shares of the company's stock worth $1,214,000 after acquiring an additional 19,467 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new position in Broadstone Net Lease during the fourth quarter worth $7,771,000. D. E. Shaw & Co. Inc. acquired a new position in Broadstone Net Lease during the fourth quarter worth $183,000. Finally, Deutsche Bank AG raised its stake in Broadstone Net Lease by 27.4% during the fourth quarter. Deutsche Bank AG now owns 245,444 shares of the company's stock worth $3,893,000 after acquiring an additional 52,718 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Broadstone Net Lease Trading Up 1.6%

Broadstone Net Lease stock traded up $0.25 during mid-day trading on Tuesday, hitting $15.71. The stock had a trading volume of 3,542,808 shares, compared to its average volume of 1,220,801. The stock has a 50-day simple moving average of $16.07 and a two-hundred day simple moving average of $16.27. The stock has a market capitalization of $2.97 billion, a PE ratio of 18.06 and a beta of 1.04. 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 company also recently declared 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 annualized dividend and a yield of 7.38%. The ex-dividend date is Monday, June 30th. Broadstone Net Lease's dividend payout ratio is 190.16%.

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.