Broadstone Net Lease, Inc. (NYSE:BNL) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 32.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,732 shares of the company’s stock after selling 25,759 shares during the quarter. Teacher Retirement System of Texas’ holdings in Broadstone Net Lease were worth $916,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of BNL. Federated Hermes Inc. increased its stake in shares of Broadstone Net Lease by 73,833.3% in the fourth quarter. Federated Hermes Inc. now owns 2,218 shares of the company’s stock worth $35,000 after acquiring an additional 2,215 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Broadstone Net Lease by 139.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock worth $43,000 after acquiring an additional 1,592 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Broadstone Net Lease by 192.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,914 shares of the company’s stock worth $46,000 after acquiring an additional 1,918 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of Broadstone Net Lease in the fourth quarter worth $54,000. Finally, Quarry LP acquired a new stake in shares of Broadstone Net Lease in the fourth quarter worth $57,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Stock Performance

Shares of NYSE BNL opened at $16.15 on Tuesday. The company’s fifty day moving average price is $16.07 and its 200 day moving average price is $16.08. Broadstone Net Lease, Inc. has a 1 year low of $13.96 and a 1 year high of $19.15. The company has a market capitalization of $3.05 billion, a PE ratio of 26.47 and a beta of 1.00.

Broadstone Net Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 7.18%. The ex-dividend date is Monday, June 30th. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 190.16%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BNL. JMP Securities reiterated a “market outperform” rating and issued a $21.00 price objective on shares of Broadstone Net Lease in a research note on Monday, June 2nd. 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. UBS Group cut their price objective on shares of Broadstone Net Lease from $18.00 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Finally, Truist Financial increased their price objective 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, the company has an average rating of “Moderate Buy” and an average price target of $18.67.

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.