EP Wealth Advisors LLC Buys Shares of 11,885 Broadstone Net Lease, Inc. $BNL

EP Wealth Advisors LLC bought a new stake in Broadstone Net Lease, Inc. (NYSE:BNL) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 11,885 shares of the company’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its position in shares of Broadstone Net Lease by 192.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,914 shares of the company’s stock worth $46,000 after buying an additional 1,918 shares during the period. Stifel Financial Corp boosted its position in shares of Broadstone Net Lease by 12.6% during the fourth quarter. Stifel Financial Corp now owns 17,415 shares of the company’s stock worth $276,000 after buying an additional 1,945 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of Broadstone Net Lease during the fourth quarter worth approximately $355,000. Bank of America Corp DE boosted its position in shares of 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. Finally, Deutsche Bank AG boosted its position in shares of Broadstone Net Lease by 27.4% during the fourth quarter. Deutsche Bank AG now owns 245,444 shares of the company’s stock worth $3,893,000 after buying an additional 52,718 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group upgraded Broadstone Net Lease from a “sell” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Thursday, August 21st. Wall Street Zen downgraded Broadstone Net Lease from a “hold” rating to a “sell” rating in a research report on Friday, August 22nd. UBS Group boosted their price objective 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. JMP Securities restated a “market outperform” rating and issued a $21.00 target price on shares of Broadstone Net Lease in a research report on Monday, June 2nd. Finally, Wolfe Research upgraded Broadstone Net Lease from a “peer perform” rating to an “outperform” rating and set a $19.00 target price for the company in a research report on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.43.

Broadstone Net Lease Stock Performance

NYSE BNL opened at $18.63 on Thursday. The stock has a market capitalization of $3.52 billion, a P/E ratio of 35.82 and a beta of 1.01. Broadstone Net Lease, Inc. has a 1 year low of $13.96 and a 1 year high of $19.15. The business’s fifty day moving average is $16.93 and its two-hundred day moving average is $16.48.

Broadstone Net Lease Dividend Announcement

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