IFM Investors Pty Ltd Reduces Holdings in Broadstone Net Lease, Inc. $BNL

IFM Investors Pty Ltd trimmed its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 13.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,887 shares of the company’s stock after selling 5,754 shares during the period. IFM Investors Pty Ltd’s holdings in Broadstone Net Lease were worth $646,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Broadstone Net Lease by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 27,711,994 shares of the company’s stock worth $472,212,000 after purchasing an additional 266,900 shares in the last quarter. Alliancebernstein L.P. boosted its position in Broadstone Net Lease by 1.1% during the first quarter. Alliancebernstein L.P. now owns 4,666,417 shares of the company’s stock worth $79,516,000 after acquiring an additional 51,754 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Broadstone Net Lease by 2.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,145,709 shares of the company’s stock worth $53,603,000 after acquiring an additional 68,196 shares during the last quarter. Nuveen LLC acquired a new stake in Broadstone Net Lease during the first quarter worth approximately $28,127,000. Finally, Allianz Asset Management GmbH boosted 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 acquiring an additional 600,633 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BNL has been the topic of a number of analyst reports. Wolfe Research upgraded 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 report on Monday, July 28th. JMP Securities restated 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. The Goldman Sachs Group upgraded shares of Broadstone Net Lease from a “sell” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Thursday, August 21st. Wall Street Zen lowered shares of Broadstone Net Lease from a “hold” rating to a “sell” rating in a research report on Friday, August 22nd. Finally, KeyCorp upgraded shares of Broadstone Net Lease from a “sector weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a research report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.43.

Broadstone Net Lease Stock Up 0.1%

Shares of BNL opened at $18.79 on Friday. The firm has a market cap of $3.55 billion, a PE ratio of 36.13 and a beta of 1.01. The company’s fifty day moving average is $17.03 and its two-hundred day moving average is $16.51. Broadstone Net Lease, Inc. has a fifty-two week low of $13.96 and a fifty-two week high of $19.15.

Broadstone Net Lease Announces Dividend

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. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date is Tuesday, September 30th. Broadstone Net Lease’s dividend payout ratio (DPR) 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.