Victory Capital Management Inc. Trims Stock Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Victory Capital Management Inc. lowered its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 9.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,594,963 shares of the company's stock after selling 167,662 shares during the period. Victory Capital Management Inc. owned 0.84% of Broadstone Net Lease worth $27,178,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Geode Capital Management LLC increased its position in Broadstone Net Lease by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 4,860,444 shares of the company's stock valued at $77,103,000 after purchasing an additional 15,501 shares during the period. Centersquare Investment Management LLC grew its position in shares of Broadstone Net Lease by 7.1% in the 4th quarter. Centersquare Investment Management LLC now owns 4,011,419 shares of the company's stock worth $63,621,000 after buying an additional 265,428 shares during the period. Northern Trust Corp grew its position in shares of Broadstone Net Lease by 20.0% in the 4th quarter. Northern Trust Corp now owns 2,464,544 shares of the company's stock worth $39,088,000 after buying an additional 410,767 shares during the period. Norges Bank purchased a new stake in shares of Broadstone Net Lease in the 4th quarter worth about $36,170,000. Finally, JPMorgan Chase & Co. grew its position in shares of Broadstone Net Lease by 16.1% in the 4th quarter. JPMorgan Chase & Co. now owns 2,129,196 shares of the company's stock worth $33,769,000 after buying an additional 294,783 shares during the period. Hedge funds and other institutional investors own 89.07% of the company's stock.

Broadstone Net Lease Trading Down 0.1%

Shares of BNL stock opened at $15.76 on Tuesday. Broadstone Net Lease, Inc. has a twelve month low of $13.96 and a twelve month high of $19.15. The company has a market capitalization of $2.98 billion, a P/E ratio of 25.83 and a beta of 1.00. The business's 50 day moving average is $16.04 and its two-hundred day moving average is $16.08.

Broadstone Net Lease Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.29 per share. The ex-dividend date was Monday, June 30th. This represents a $1.16 annualized dividend and a yield of 7.36%. Broadstone Net Lease's dividend payout ratio is presently 190.16%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BNL. BMO Capital Markets set a $20.00 price objective on shares of Broadstone Net Lease and gave the stock an "outperform" rating in a research note on Monday, March 24th. JMP Securities restated a "market outperform" rating and set a $21.00 target price on shares of Broadstone Net Lease in a research note on Monday, June 2nd. UBS Group decreased their target price on shares of Broadstone Net Lease from $17.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 16th. Finally, Truist Financial raised their target price on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the stock a "hold" rating in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Broadstone Net Lease currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.50.

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.

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