PNC Financial Services Group Inc. Sells 787 Shares of Broadstone Net Lease, Inc. $BNL

PNC Financial Services Group Inc. lowered its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 7.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,055 shares of the company’s stock after selling 787 shares during the period. PNC Financial Services Group Inc.’s holdings in Broadstone Net Lease were worth $171,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its holdings in shares of 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 worth $46,000 after acquiring an additional 1,918 shares during the period. GF Fund Management CO. LTD. bought a new position in shares of Broadstone Net Lease in the fourth quarter valued at approximately $54,000. Quarry LP purchased a new position in Broadstone Net Lease during the fourth quarter valued at approximately $57,000. Sterling Capital Management LLC grew its stake in Broadstone Net Lease by 807.5% during the fourth quarter. Sterling Capital Management LLC now owns 5,944 shares of the company’s stock valued at $94,000 after acquiring an additional 5,289 shares in the last quarter. Finally, KBC Group NV increased its holdings in Broadstone Net Lease by 15.1% during the 1st quarter. KBC Group NV now owns 9,094 shares of the company’s stock worth $155,000 after acquiring an additional 1,193 shares during the period. Institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Stock Down 0.9%

NYSE BNL opened at $16.63 on Tuesday. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 31.97 and a beta of 1.00. The company has a 50-day simple moving average of $16.23 and a two-hundred day simple moving average of $16.17. Broadstone Net Lease, Inc. has a 12-month low of $13.96 and a 12-month high of $19.15.

Broadstone Net Lease Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on BNL shares. JMP Securities reissued a “market outperform” rating and issued a $21.00 price target on shares of Broadstone Net Lease in a report on Monday, June 2nd. UBS Group lifted their price objective on Broadstone Net Lease from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Friday. Wall Street Zen upgraded Broadstone Net Lease from a “sell” rating to a “hold” rating in a research note on Sunday, August 3rd. Wolfe Research raised Broadstone Net Lease from a “peer perform” rating to an “outperform” rating and set a $19.00 price target on the stock in a report on Monday, July 28th. Finally, Truist Financial upped their price objective on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Broadstone Net Lease presently has an average rating of “Moderate Buy” and an average target price of $18.71.

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.