Cerity Partners LLC Cuts Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Cerity Partners LLC cut its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 1.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 81,180 shares of the company’s stock after selling 1,117 shares during the period. Cerity Partners LLC’s holdings in Broadstone Net Lease were worth $1,383,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Federated Hermes Inc. lifted its stake in shares of Broadstone Net Lease by 73,833.3% during the 4th quarter. Federated Hermes Inc. now owns 2,218 shares of the company’s stock valued at $35,000 after buying an additional 2,215 shares in the last quarter. Tower Research Capital LLC TRC boosted 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 valued at $46,000 after buying an additional 1,918 shares during the period. GF Fund Management CO. LTD. purchased a new stake in shares of Broadstone Net Lease in the 4th quarter worth approximately $54,000. Quarry LP bought a new position in shares of Broadstone Net Lease during the 4th quarter worth approximately $57,000. Finally, Sterling Capital Management LLC increased its stake in Broadstone Net Lease by 807.5% during the 4th quarter. Sterling Capital Management LLC now owns 5,944 shares of the company’s stock valued at $94,000 after purchasing an additional 5,289 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BNL. UBS Group dropped their price target on shares of Broadstone Net Lease from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, July 16th. 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 report on Monday, March 24th. Truist Financial upped their price target 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. Finally, JMP Securities reiterated a “market outperform” rating and issued a $21.00 price target on shares of Broadstone Net Lease in a research report on Monday, June 2nd. One research 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. According to MarketBeat, Broadstone Net Lease currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.50.

Broadstone Net Lease Trading Down 0.1%

BNL opened at $15.76 on Tuesday. The stock has a market cap of $2.98 billion, a PE ratio of 25.83 and a beta of 1.00. Broadstone Net Lease, Inc. has a 1 year low of $13.96 and a 1 year high of $19.15. The stock’s 50 day simple moving average is $16.04 and its 200-day simple moving average is $16.08.

Broadstone Net Lease Announces Dividend

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

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.