Xponance Inc. Grows Stock Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Xponance Inc. grew its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 5.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 14,298 shares of the company’s stock after purchasing an additional 721 shares during the period. Xponance Inc.’s holdings in Broadstone Net Lease were worth $244,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in BNL. Raymond James Financial Inc. purchased a new stake in shares of Broadstone Net Lease during the fourth quarter valued at approximately $4,791,000. PNC Financial Services Group Inc. grew its holdings in shares of Broadstone Net Lease by 58.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,842 shares of the company’s stock valued at $172,000 after buying an additional 4,017 shares during the last quarter. Swiss National Bank grew its holdings in shares of Broadstone Net Lease by 0.5% during the fourth quarter. Swiss National Bank now owns 370,800 shares of the company’s stock valued at $5,881,000 after buying an additional 1,700 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Broadstone Net Lease by 1.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 99,275 shares of the company’s stock valued at $1,575,000 after buying an additional 1,665 shares during the last quarter. Finally, Natixis Advisors LLC grew its holdings in shares of Broadstone Net Lease by 4.3% during the fourth quarter. Natixis Advisors LLC now owns 119,240 shares of the company’s stock valued at $1,891,000 after buying an additional 4,968 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BNL has been the topic of a number of recent analyst reports. BMO Capital Markets set a $20.00 price target on shares of Broadstone Net Lease and gave the company an “outperform” rating in a report on Monday, March 24th. JMP Securities restated a “market outperform” rating and issued a $21.00 target price on shares of Broadstone Net Lease in a report on Monday, June 2nd. Truist Financial raised 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, UBS Group dropped their target price on shares of Broadstone Net Lease from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday. One investment 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $18.50.

Broadstone Net Lease Trading Up 0.2%

Shares of BNL stock opened at $15.78 on Friday. Broadstone Net Lease, Inc. has a 12-month low of $13.96 and a 12-month high of $19.15. The firm’s 50 day moving average is $16.04 and its 200 day moving average is $16.07. The stock has a market capitalization of $2.98 billion, a P/E ratio of 25.87 and a beta of 1.00.

Broadstone Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.29 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.16 annualized dividend and a yield of 7.35%. Broadstone Net Lease’s payout ratio is presently 190.16%.

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.