Broadstone Net Lease, Inc. $BNL Shares Acquired by LPL Financial LLC

LPL Financial LLC lifted its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 17.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 131,654 shares of the company’s stock after acquiring an additional 19,190 shares during the period. LPL Financial LLC owned 0.07% of Broadstone Net Lease worth $2,243,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Allianz Asset Management GmbH lifted its position in Broadstone Net Lease by 87.3% during the first quarter. Allianz Asset Management GmbH now owns 1,288,892 shares of the company’s stock worth $21,963,000 after buying an additional 600,633 shares during the period. Lighthouse Investment Partners LLC purchased a new position in Broadstone Net Lease during the fourth quarter worth about $7,771,000. Bank of America Corp DE lifted its position in Broadstone Net Lease by 161.0% during the fourth quarter. Bank of America Corp DE now owns 761,471 shares of the company’s stock worth $12,077,000 after buying an additional 469,733 shares during the period. Cetera Investment Advisers purchased a new position in Broadstone Net Lease during the first quarter worth about $7,259,000. Finally, Northern Trust Corp lifted its position in Broadstone Net Lease by 20.0% during the fourth quarter. Northern Trust Corp now owns 2,464,544 shares of the company’s stock worth $39,088,000 after buying an additional 410,767 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analysts Set New Price Targets

BNL has been the topic of several recent analyst reports. JMP Securities reiterated a “market outperform” rating and set a $21.00 target price on shares of Broadstone Net Lease in a research report on Monday, June 2nd. Wolfe Research upgraded 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 report on Monday, July 28th. UBS Group increased their target price on Broadstone Net Lease from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, August 15th. Wall Street Zen upgraded Broadstone Net Lease from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd. Finally, Truist Financial raised their price objective on Broadstone Net Lease from $17.00 to $18.00 and gave the stock a “hold” rating in a report on Monday, May 5th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.71.

Broadstone Net Lease Stock Performance

Shares of NYSE:BNL opened at $17.0850 on Wednesday. The company has a market cap of $3.23 billion, a P/E ratio of 32.86 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. The business’s 50-day simple moving average is $16.25 and its 200 day simple moving average is $16.18.

Broadstone Net Lease Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 6.8%. The ex-dividend date is Tuesday, September 30th. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 223.08%.

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.