Rhumbline Advisers Sells 9,222 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Rhumbline Advisers lessened its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 2.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 330,224 shares of the company’s stock after selling 9,222 shares during the period. Rhumbline Advisers owned 0.17% of Broadstone Net Lease worth $5,627,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Federated Hermes Inc. raised its position in Broadstone Net Lease by 73,833.3% in the 4th quarter. Federated Hermes Inc. now owns 2,218 shares of the company’s stock worth $35,000 after purchasing an additional 2,215 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Broadstone Net Lease by 139.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock worth $43,000 after purchasing an additional 1,592 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Broadstone Net Lease by 192.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,914 shares of the company’s stock worth $46,000 after purchasing an additional 1,918 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in Broadstone Net Lease in the 4th quarter worth approximately $54,000. Finally, Quarry LP bought a new position in Broadstone Net Lease in the 4th quarter worth approximately $57,000. Institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on BNL. 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 research report on Tuesday, May 13th. BMO Capital Markets set a $20.00 target price on shares of Broadstone Net Lease and gave the company an “outperform” rating in a research report 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 report on Monday, June 2nd. Finally, Truist Financial upped their price objective on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the company a “hold” rating in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.67.

Broadstone Net Lease Stock Down 0.2%

BNL opened at $16.28 on Friday. Broadstone Net Lease, Inc. has a 12 month low of $13.96 and a 12 month high of $19.15. The company has a fifty day simple moving average of $15.87 and a 200 day simple moving average of $16.18. The stock has a market cap of $3.08 billion, a P/E ratio of 18.71 and a beta of 1.00.

Broadstone Net Lease Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 7.13%. The ex-dividend date is Monday, June 30th. Broadstone Net Lease’s payout ratio is presently 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.