Broadstone Net Lease, Inc. $BNL Shares Sold by Deutsche Bank AG

Deutsche Bank AG cut its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 6.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 230,473 shares of the company’s stock after selling 14,971 shares during the quarter. Deutsche Bank AG owned approximately 0.12% of Broadstone Net Lease worth $3,927,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BNL. Wells Fargo & Company MN lifted its stake in Broadstone Net Lease by 10.4% in the 4th quarter. Wells Fargo & Company MN now owns 220,889 shares of the company’s stock valued at $3,503,000 after buying an additional 20,814 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Broadstone Net Lease by 654.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 451,078 shares of the company’s stock valued at $7,154,000 after buying an additional 391,320 shares in the last quarter. Invesco Ltd. lifted its stake in Broadstone Net Lease by 7.1% in the 4th quarter. Invesco Ltd. now owns 1,035,938 shares of the company’s stock valued at $16,430,000 after buying an additional 69,041 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Broadstone Net Lease by 404.8% in the 4th quarter. Renaissance Technologies LLC now owns 244,300 shares of the company’s stock valued at $3,875,000 after buying an additional 195,900 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Broadstone Net Lease in the 4th quarter valued at about $4,791,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BNL has been the topic of a number of research reports. Wall Street Zen raised shares of Broadstone Net Lease from a “sell” rating to a “hold” rating in a research note on Sunday, August 3rd. UBS Group raised their target price on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday. Wolfe Research raised shares of Broadstone Net Lease from a “peer perform” rating to an “outperform” rating and set a $19.00 target price on the stock in a research note on Monday, July 28th. 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 research note on Monday, May 5th. Finally, JMP Securities reissued a “market outperform” rating and issued a $21.00 target price on shares of Broadstone Net Lease in a research note on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.71.

Broadstone Net Lease Price Performance

Shares of NYSE BNL opened at $16.63 on Tuesday. The company has a 50 day simple moving average of $16.23 and a 200-day simple moving average of $16.17. The company has a market capitalization of $3.14 billion, a P/E ratio of 31.97 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.

Broadstone Net Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.29 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.0%. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 223.08%.

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.