Nuveen Asset Management LLC Trims Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Nuveen Asset Management LLC lowered its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 26.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 777,172 shares of the company’s stock after selling 281,928 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.41% of Broadstone Net Lease worth $12,326,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. State of Alaska Department of Revenue boosted its stake in Broadstone Net Lease by 1.0% during the 4th quarter. State of Alaska Department of Revenue now owns 90,318 shares of the company’s stock valued at $1,432,000 after acquiring an additional 882 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Broadstone Net Lease by 3.9% during 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 last quarter. Corient Private Wealth LLC grew its stake in Broadstone Net Lease by 2.2% in the fourth quarter. Corient Private Wealth LLC now owns 41,892 shares of the company’s stock worth $664,000 after purchasing an additional 907 shares in the last quarter. Blue Trust Inc. grew its stake in Broadstone Net Lease by 23.7% in the fourth quarter. Blue Trust Inc. now owns 4,827 shares of the company’s stock worth $77,000 after purchasing an additional 925 shares in the last quarter. Finally, Evermay Wealth Management LLC increased its holdings in Broadstone Net Lease by 2.0% in the fourth quarter. Evermay Wealth Management LLC now owns 50,155 shares of the company’s stock valued at $798,000 after buying an additional 969 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on BNL. 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 report on Monday, May 5th. BMO Capital Markets set a $20.00 price objective on Broadstone Net Lease and gave the stock an “outperform” rating in a research note on Monday, March 24th. JMP Securities reiterated a “market outperform” rating and set a $21.00 target price on shares of Broadstone Net Lease in a research note on Monday, May 5th. Finally, UBS Group dropped their target price on shares of Broadstone Net Lease from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. 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 given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.67.

Broadstone Net Lease Price Performance

NYSE:BNL opened at $15.43 on Tuesday. The firm has a market capitalization of $2.92 billion, a P/E ratio of 17.73 and a beta of 1.04. The business has a 50 day simple moving average of $16.07 and a 200 day simple moving average of $16.27. Broadstone Net Lease, Inc. has a 12-month low of $13.96 and a 12-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 issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 7.52%. The ex-dividend date of this dividend is Monday, June 30th. Broadstone Net Lease’s dividend payout ratio (DPR) is 190.16%.

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.