Ameriprise Financial Inc. Cuts Stock Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Ameriprise Financial Inc. lessened its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 8.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 272,020 shares of the company’s stock after selling 26,737 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.14% of Broadstone Net Lease worth $4,315,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BNL. Norges Bank purchased a new stake in Broadstone Net Lease in the 4th quarter worth $36,170,000. Bank of Montreal Can grew its holdings in shares of Broadstone Net Lease by 603.9% during the fourth quarter. Bank of Montreal Can now owns 1,891,881 shares of the company’s stock worth $30,005,000 after buying an additional 1,623,098 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Broadstone Net Lease by 20.0% during the fourth 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 in the last quarter. Columbus Macro LLC purchased a new stake in shares of Broadstone Net Lease during the fourth quarter worth $6,269,000. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Broadstone Net Lease by 654.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 451,078 shares of the company’s stock worth $7,154,000 after buying an additional 391,320 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Trading Down 0.0%

Shares of BNL stock opened at $15.43 on Monday. The company’s 50-day moving average price is $16.11 and its 200-day moving average price is $16.29. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 17.73 and a beta of 1.04. Broadstone Net Lease, Inc. has a twelve month low of $13.96 and a twelve month high of $19.15.

Broadstone Net Lease Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.16 annualized dividend and a dividend yield of 7.52%. Broadstone Net Lease’s payout ratio is 190.16%.

Analysts Set New Price Targets

BNL has been the subject of a number of research reports. BMO Capital Markets set a $20.00 target price on shares of Broadstone Net Lease and gave the stock an “outperform” rating in a report on Monday, March 24th. UBS Group dropped their target price on shares of Broadstone Net Lease from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Truist Financial upped their target price on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the stock a “hold” rating in a report on Monday, May 5th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $21.00 target price on shares of Broadstone Net Lease in a report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $18.67.

About Broadstone Net Lease

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.