Avantax Advisory Services Inc. Has $428,000 Stake in Broadstone Net Lease, Inc. (NYSE:BNL)

Avantax Advisory Services Inc. decreased its position in Broadstone Net Lease, Inc. (NYSE:BNL) by 8.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,145 shares of the company’s stock after selling 2,345 shares during the period. Avantax Advisory Services Inc.’s holdings in Broadstone Net Lease were worth $428,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of Broadstone Net Lease by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 4,860,444 shares of the company’s stock worth $77,103,000 after purchasing an additional 15,501 shares in the last quarter. Northern Trust Corp boosted its position in shares of Broadstone Net Lease by 20.0% during the 4th quarter. Northern Trust Corp now owns 2,464,544 shares of the company’s stock worth $39,088,000 after purchasing an additional 410,767 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Broadstone Net Lease by 603.9% during the 4th quarter. Bank of Montreal Can now owns 1,891,881 shares of the company’s stock worth $30,005,000 after purchasing an additional 1,623,098 shares in the last quarter. Allianz Asset Management GmbH boosted its position in shares of Broadstone Net Lease by 87.3% during the 1st quarter. Allianz Asset Management GmbH now owns 1,288,892 shares of the company’s stock worth $21,963,000 after purchasing an additional 600,633 shares in the last quarter. Finally, Systematic Financial Management LP boosted its position in shares of Broadstone Net Lease by 43.1% during the 4th quarter. Systematic Financial Management LP now owns 1,069,837 shares of the company’s stock worth $16,968,000 after purchasing an additional 322,131 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Stock Down 1.0%

Broadstone Net Lease stock opened at $16.72 on Thursday. Broadstone Net Lease, Inc. has a 52 week low of $13.96 and a 52 week high of $19.15. The company’s 50 day moving average price is $16.13 and its two-hundred day moving average price is $16.12. The stock has a market cap of $3.16 billion, a P/E ratio of 32.15 and a beta of 1.00.

Broadstone Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 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 6.9%. The ex-dividend date is Tuesday, September 30th. Broadstone Net Lease’s dividend payout ratio (DPR) is 223.08%.

Analyst Upgrades and Downgrades

BNL has been the topic of a number of research analyst reports. JMP Securities reissued a “market outperform” rating and set a $21.00 price objective on shares of Broadstone Net Lease in a research report on Monday, June 2nd. Wolfe Research raised shares of Broadstone Net Lease from a “peer perform” rating to an “outperform” rating and set a $19.00 price objective on the stock in a research report on Monday, July 28th. UBS Group lowered 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, July 16th. Truist Financial upped 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, Wall Street Zen upgraded shares of Broadstone Net Lease from a “sell” rating to a “hold” rating in a report on Sunday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Broadstone Net Lease has an average rating of “Moderate Buy” and an average price target of $18.57.

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.