Voya Investment Management LLC reduced its position in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 16.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 137,756 shares of the company's stock after selling 26,169 shares during the period. Voya Investment Management LLC owned about 0.07% of Broadstone Net Lease worth $2,347,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in BNL. Ritholtz Wealth Management increased its holdings in shares of Broadstone Net Lease by 2.8% during the first quarter. Ritholtz Wealth Management now owns 24,939 shares of the company's stock worth $425,000 after buying an additional 673 shares in the last quarter. Xponance Inc. increased its stake in shares of Broadstone Net Lease by 5.3% during the 1st quarter. Xponance Inc. now owns 14,298 shares of the company's stock worth $244,000 after purchasing an additional 721 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Broadstone Net Lease by 1.3% during the 1st 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. KBC Group NV lifted its stake in Broadstone Net Lease by 15.1% in the 1st quarter. KBC Group NV now owns 9,094 shares of the company's stock worth $155,000 after purchasing an additional 1,193 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its position in shares of Broadstone Net Lease by 11.3% during the 1st quarter. QRG Capital Management Inc. now owns 14,078 shares of the company's stock valued at $240,000 after acquiring an additional 1,427 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.
Broadstone Net Lease Stock Performance
Shares of BNL stock traded down $0.02 on Monday, hitting $18.32. 1,111,048 shares of the stock traded hands, compared to its average volume of 1,304,994. Broadstone Net Lease, Inc. has a twelve month low of $13.96 and a twelve month high of $19.15. The stock has a market capitalization of $3.46 billion, a PE ratio of 35.22 and a beta of 1.01. The firm's 50-day moving average price is $17.32 and its two-hundred day moving average price is $16.57.
Broadstone Net Lease Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend is Tuesday, September 30th. Broadstone Net Lease's dividend payout ratio is presently 223.08%.
Analysts Set New Price Targets
A number of brokerages recently commented on BNL. 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 research report on Tuesday, August 19th. The Goldman Sachs Group raised Broadstone Net Lease from a "sell" rating to a "buy" rating and set a $21.00 price target on the stock in a report on Thursday, August 21st. Wolfe Research upgraded shares of 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 report on Monday, July 28th. JMP Securities restated a "market outperform" rating and set a $21.00 target price on shares of Broadstone Net Lease in a research report on Monday, June 2nd. Finally, UBS Group upped their price target on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $19.43.
Get Our Latest Report on BNL
About Broadstone Net Lease
(
Free Report)
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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