Van Lanschot Kempen Investment Management N.V. Takes $11.65 Million Position in Broadstone Net Lease, Inc. $BNL

Key Points

• Van Lanschot Kempen Investment Management N.V. acquired 683,455 shares of Broadstone Net Lease, Inc., valued at approximately $11.6 million, representing a 0.36% ownership stake.
• Several institutional investors, including HSBC Holdings PLC and American Century Companies Inc., have increased their holdings in Broadstone Net Lease during the first quarter.
• Equities analysts have raised their ratings and price targets for Broadstone Net Lease, with a consensus target price now at $18.71 and a consensus rating of "Moderate Buy."

Van Lanschot Kempen Investment Management N.V. bought a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 683,455 shares of the company's stock, valued at approximately $11,646,000. Van Lanschot Kempen Investment Management N.V. owned about 0.36% of Broadstone Net Lease as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of BNL. Wells Fargo & Company MN boosted its holdings in Broadstone Net Lease by 10.4% in the fourth quarter. Wells Fargo & Company MN now owns 220,889 shares of the company's stock worth $3,503,000 after purchasing an additional 20,814 shares during the period. Renaissance Technologies LLC boosted its holdings in Broadstone Net Lease by 404.8% in the fourth quarter. Renaissance Technologies LLC now owns 244,300 shares of the company's stock worth $3,875,000 after purchasing an additional 195,900 shares during the period. Raymond James Financial Inc. acquired a new position in Broadstone Net Lease in the fourth quarter worth $4,791,000. Sterling Capital Management LLC boosted its holdings in Broadstone Net Lease by 807.5% in the fourth quarter. Sterling Capital Management LLC now owns 5,944 shares of the company's stock worth $94,000 after purchasing an additional 5,289 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its holdings in Broadstone Net Lease by 3.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 23,826 shares of the company's stock worth $378,000 after purchasing an additional 892 shares during the period. Institutional investors own 89.07% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on BNL. KeyCorp raised shares of Broadstone Net Lease from a "sector weight" rating to an "overweight" rating and set a $20.00 price objective for the company in a report on Tuesday, August 19th. Truist Financial increased their target price 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 increased their target price on Broadstone Net Lease from $16.00 to $17.00 and gave the stock a "neutral" rating in a research report on Friday, August 15th. The Goldman Sachs Group raised Broadstone Net Lease from a "sell" rating to a "buy" rating and set a $21.00 target price on the stock in a research report on Thursday. Finally, Wall Street Zen lowered Broadstone Net Lease from a "hold" rating to a "sell" rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.43.

Broadstone Net Lease Stock Up 2.4%

BNL stock traded up $0.4280 during trading on Friday, reaching $18.2280. 3,932,225 shares of the company's stock were exchanged, compared to its average volume of 1,624,729. Broadstone Net Lease, Inc. has a 1-year low of $13.96 and a 1-year high of $19.15. The company's fifty day moving average price is $16.34 and its 200-day moving average price is $16.22. The firm has a market cap of $3.45 billion, a PE ratio of 35.05 and a beta of 1.00.

Broadstone Net Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.29 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 6.4%. Broadstone Net Lease's dividend payout ratio (DPR) is 223.08%.

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.