Envestnet Asset Management Inc. Buys 92,909 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Envestnet Asset Management Inc. increased its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 20.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 543,987 shares of the company’s stock after acquiring an additional 92,909 shares during the period. Envestnet Asset Management Inc. owned about 0.29% of Broadstone Net Lease worth $9,270,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. UBS Group dropped their target price 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. Truist Financial boosted 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. JMP Securities reissued a “market outperform” rating and set a $21.00 target price on shares of Broadstone Net Lease in a report on Monday, June 2nd. Finally, BMO Capital Markets set a $20.00 target price on shares of Broadstone Net Lease and gave the stock an “outperform” rating in a report on Monday, March 24th. 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 company. According to data from MarketBeat.com, Broadstone Net Lease has a consensus rating of “Moderate Buy” and a consensus price target of $18.50.

Broadstone Net Lease Price Performance

Shares of BNL stock opened at $15.76 on Tuesday. The firm has a 50-day moving average of $16.04 and a 200-day moving average of $16.08. The company has a market cap of $2.98 billion, a P/E ratio of 25.83 and a beta of 1.00. Broadstone Net Lease, Inc. has a one year low of $13.96 and a one year high of $19.15.

Broadstone Net Lease Dividend Announcement

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