Raymond James Financial Inc. Sells 27,643 Shares of Broadstone Net Lease, Inc. $BNL

Raymond James Financial Inc. trimmed its position in Broadstone Net Lease, Inc. (NYSE:BNL) by 9.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 274,434 shares of the company’s stock after selling 27,643 shares during the period. Raymond James Financial Inc. owned approximately 0.15% of Broadstone Net Lease worth $4,676,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Broadstone Net Lease by 1.0% in the first quarter. Vanguard Group Inc. now owns 27,711,994 shares of the company’s stock valued at $472,212,000 after purchasing an additional 266,900 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Broadstone Net Lease by 2.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,145,709 shares of the company’s stock valued at $53,603,000 after purchasing an additional 68,196 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Broadstone Net Lease by 20.0% in the fourth quarter. Northern Trust Corp now owns 2,464,544 shares of the company’s stock valued at $39,088,000 after purchasing an additional 410,767 shares in the last quarter. Nuveen LLC bought a new stake in shares of Broadstone Net Lease in the first quarter valued at about $28,127,000. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Broadstone Net Lease by 87.3% in the first quarter. Allianz Asset Management GmbH now owns 1,288,892 shares of the company’s stock valued at $21,963,000 after purchasing an additional 600,633 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on BNL shares. Wolfe Research upgraded 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. JMP Securities reiterated a “market outperform” rating and set a $21.00 target price on shares of Broadstone Net Lease in a report on Monday, June 2nd. UBS Group upped their target price on Broadstone Net Lease from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday, August 15th. Wall Street Zen lowered Broadstone Net Lease from a “hold” rating to a “sell” rating in a report on Friday, August 22nd. Finally, KeyCorp upgraded Broadstone Net Lease from a “sector weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a report on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.43.

Broadstone Net Lease Stock Up 0.9%

Shares of NYSE BNL opened at $18.65 on Friday. The business’s 50 day moving average price is $16.79 and its two-hundred day moving average price is $16.42. The company has a market cap of $3.53 billion, a PE ratio of 35.86 and a beta of 1.01. Broadstone Net Lease, Inc. has a twelve month low of $13.96 and a twelve month high of $19.15.

Broadstone Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date of this dividend is Tuesday, September 30th. Broadstone Net Lease’s payout ratio is 223.08%.

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.