Broadstone Net Lease, Inc. (NYSE:BNL) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 1.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,795,509 shares of the company’s stock after selling 25,452 shares during the period. Bank of New York Mellon Corp owned approximately 0.95% of Broadstone Net Lease worth $30,595,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of BNL. Federated Hermes Inc. grew its holdings in Broadstone Net Lease by 73,833.3% during 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 boosted its position in Broadstone Net Lease by 139.3% during the fourth 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 in the last quarter. Tower Research Capital LLC TRC boosted its position in Broadstone Net Lease by 192.6% during the fourth 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 in the last quarter. GF Fund Management CO. LTD. purchased a new stake in Broadstone Net Lease during the fourth quarter worth $54,000. Finally, Quarry LP purchased a new stake in Broadstone Net Lease during the fourth quarter worth $57,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Stock Down 2.4%

Shares of NYSE:BNL opened at $15.76 on Wednesday. The business has a 50 day moving average price of $16.07 and a 200 day moving average price of $16.08. Broadstone Net Lease, Inc. has a twelve month low of $13.96 and a twelve month high of $19.15. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 25.84 and a beta of 1.00.

Broadstone Net Lease Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a dividend of $0.29 per share. The ex-dividend date was Monday, June 30th. This represents a $1.16 dividend on an annualized basis and a yield of 7.36%. Broadstone Net Lease’s dividend payout ratio is 190.16%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BNL. BMO Capital Markets set a $20.00 price objective on 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. 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 research report on Monday, May 5th. Finally, UBS Group cut their price objective on 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 investment analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.67.

Broadstone Net Lease 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.