683,455 Shares in Broadstone Net Lease, Inc. $BNL Purchased by Van Lanschot Kempen Investment Management N.V.

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. acquired a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 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 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Nuveen LLC bought a new stake in Broadstone Net Lease in the first quarter worth approximately $28,127,000. Allianz Asset Management GmbH grew its holdings in Broadstone Net Lease by 87.3% in the first quarter. Allianz Asset Management GmbH now owns 1,288,892 shares of the company's stock worth $21,963,000 after purchasing an additional 600,633 shares during the period. Lighthouse Investment Partners LLC acquired a new stake in Broadstone Net Lease in the fourth quarter worth $7,771,000. Boston Partners bought a new stake in shares of Broadstone Net Lease during the first quarter valued at approximately $8,071,000. Finally, Bank of America Corp DE increased its holdings in shares of 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 valued at $12,077,000 after acquiring an additional 469,733 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Broadstone Net Lease Price Performance

Shares of NYSE BNL traded down $0.0370 during trading on Monday, reaching $18.2030. 332,220 shares of the stock traded hands, compared to its average volume of 1,482,557. Broadstone Net Lease, Inc. has a 52-week low of $13.96 and a 52-week high of $19.15. The company has a 50-day moving average of $16.34 and a 200-day moving average of $16.22. The stock has a market capitalization of $3.44 billion, a P/E ratio of 34.99 and a beta of 1.00.

Broadstone Net Lease Dividend Announcement

The firm 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 $0.29 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 6.4%. Broadstone Net Lease's payout ratio is 223.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. KeyCorp upgraded 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. UBS Group boosted their price objective on Broadstone Net Lease from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Friday, August 15th. JMP Securities restated a "market outperform" rating and set a $21.00 price objective on shares of Broadstone Net Lease in a report on Monday, June 2nd. Truist Financial boosted their price objective on Broadstone Net Lease from $17.00 to $18.00 and gave the company a "hold" rating in a report on Monday, May 5th. Finally, The Goldman Sachs Group upgraded Broadstone Net Lease from a "sell" rating to a "buy" rating and set a $21.00 price objective for the company in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.