Broadstone Net Lease, Inc. $BNL Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its position in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 14.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 902,686 shares of the company's stock after acquiring an additional 117,034 shares during the period. Russell Investments Group Ltd. owned about 0.48% of Broadstone Net Lease worth $15,382,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in BNL. Wells Fargo & Company MN grew its stake in shares of Broadstone Net Lease by 10.4% during the 4th quarter. Wells Fargo & Company MN now owns 220,889 shares of the company's stock valued at $3,503,000 after buying an additional 20,814 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Broadstone Net Lease by 654.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 451,078 shares of the company's stock valued at $7,154,000 after buying an additional 391,320 shares during the period. Federated Hermes Inc. grew its stake in shares of Broadstone Net Lease by 73,833.3% during the 4th quarter. Federated Hermes Inc. now owns 2,218 shares of the company's stock valued at $35,000 after buying an additional 2,215 shares during the period. Invesco Ltd. grew its stake in shares of Broadstone Net Lease by 7.1% during the 4th quarter. Invesco Ltd. now owns 1,035,938 shares of the company's stock valued at $16,430,000 after buying an additional 69,041 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Broadstone Net Lease by 404.8% during the 4th quarter. Renaissance Technologies LLC now owns 244,300 shares of the company's stock valued at $3,875,000 after buying an additional 195,900 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Broadstone Net Lease Stock Performance

Shares of NYSE:BNL traded up $0.4250 during midday trading on Thursday, hitting $17.8150. 2,897,495 shares of the company's stock traded hands, compared to its average volume of 1,466,664. The company has a market cap of $3.37 billion, a PE ratio of 34.24 and a beta of 1.00. The firm's fifty day moving average price is $16.27 and its two-hundred day moving average price is $16.18. Broadstone Net Lease, Inc. has a twelve month low of $13.96 and a twelve month high of $19.15.

Broadstone Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.29 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.16 dividend on an annualized basis and a yield of 6.5%. Broadstone Net Lease's payout ratio is currently 223.08%.

Analyst Ratings Changes

Several brokerages have recently issued reports on BNL. Wall Street Zen raised shares of Broadstone Net Lease from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. KeyCorp upgraded shares of Broadstone Net Lease from a "sector weight" rating to an "overweight" rating and set a $20.00 target price on the stock in a report on Tuesday. The Goldman Sachs Group upgraded shares of Broadstone Net Lease from a "sell" rating to a "buy" rating and set a $21.00 target price on the stock in a report on Thursday. UBS Group lifted their target price 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, Wolfe Research upgraded shares of Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 target price on the stock in a report on Monday, July 28th. 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. According to data from MarketBeat.com, the stock presently has an average 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.