Raymond James Financial Inc. Has $4.68 Million Stock Holdings in Broadstone Net Lease, Inc. $BNL

Key Points

• Raymond James Financial Inc. reduced its stake in Broadstone Net Lease, Inc. by 9.2%, selling 27,643 shares to hold 274,434 shares worth approximately $4.68 million at the quarter's end.
• Broadstone Net Lease recently announced a quarterly dividend of $0.29 per share, reflecting an annualized yield of 6.2% with a payout ratio of 223.08%.
• Analysts have diverse ratings for Broadstone Net Lease, with a consensus rating of "Moderate Buy" and an average price target of $19.43, indicating potential for future growth.

Raymond James Financial Inc. decreased its stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 9.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 274,434 shares of the company's stock after selling 27,643 shares during the quarter. Raymond James Financial Inc. owned approximately 0.15% of Broadstone Net Lease worth $4,676,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Ritholtz Wealth Management grew its stake in Broadstone Net Lease by 2.8% in the first quarter. Ritholtz Wealth Management now owns 24,939 shares of the company's stock valued at $425,000 after acquiring an additional 673 shares during the period. Xponance Inc. grew its stake in Broadstone Net Lease by 5.3% in the first quarter. Xponance Inc. now owns 14,298 shares of the company's stock valued at $244,000 after acquiring an additional 721 shares during the period. Nissay Asset Management Corp Japan ADV grew its stake in Broadstone Net Lease by 4.0% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 28,342 shares of the company's stock valued at $452,000 after acquiring an additional 1,080 shares during the period. State of Alaska Department of Revenue grew its stake in Broadstone Net Lease by 1.3% in the first quarter. State of Alaska Department of Revenue now owns 91,475 shares of the company's stock valued at $1,558,000 after acquiring an additional 1,157 shares during the period. Finally, KBC Group NV grew its stake in Broadstone Net Lease by 15.1% in the first quarter. KBC Group NV now owns 9,094 shares of the company's stock valued at $155,000 after acquiring an additional 1,193 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Broadstone Net Lease Trading Up 0.8%

Shares of BNL stock traded up $0.15 on Thursday, hitting $18.77. 877,184 shares of the stock were exchanged, compared to its average volume of 1,570,443. The firm has a market capitalization of $3.55 billion, a P/E ratio of 36.10 and a beta of 1.01. The business has a 50-day moving average of $16.98 and a 200 day moving average of $16.50. Broadstone Net Lease, Inc. has a fifty-two week low of $13.96 and a fifty-two week high of $19.15.

Broadstone Net Lease Dividend Announcement

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 dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.16 annualized dividend and a yield of 6.2%. Broadstone Net Lease's dividend payout ratio is 223.08%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. JMP Securities reissued a "market outperform" rating and issued a $21.00 target price on shares of Broadstone Net Lease in a research note on Monday, June 2nd. Wolfe Research raised 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 note on Monday, July 28th. Wall Street Zen cut Broadstone Net Lease from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. The Goldman Sachs Group raised Broadstone Net Lease from a "sell" rating to a "buy" rating and set a $21.00 price objective for the company in a research report on Thursday, August 21st. Finally, KeyCorp raised Broadstone Net Lease from a "sector weight" rating to an "overweight" rating and set a $20.00 price objective for the company in a research report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Broadstone Net Lease currently has a consensus rating of "Moderate Buy" and an average target price 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.