Intech Investment Management LLC Buys 11,660 Shares of Broadstone Net Lease, Inc. $BNL

Intech Investment Management LLC increased its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 10.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 123,248 shares of the company’s stock after buying an additional 11,660 shares during the period. Intech Investment Management LLC owned 0.07% of Broadstone Net Lease worth $2,100,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. GF Fund Management CO. LTD. bought a new stake in shares of Broadstone Net Lease during the 4th quarter worth about $54,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Broadstone Net Lease in the 1st quarter valued at about $115,000. KBC Group NV boosted its holdings in Broadstone Net Lease by 15.1% in the 1st quarter. KBC Group NV now owns 9,094 shares of the company’s stock valued at $155,000 after purchasing an additional 1,193 shares during the period. D. E. Shaw & Co. Inc. bought a new stake in Broadstone Net Lease in the 4th quarter valued at about $183,000. Finally, Squarepoint Ops LLC bought a new stake in Broadstone Net Lease in the 4th quarter valued at about $198,000. Institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Broadstone Net Lease from a “hold” rating to a “sell” rating in a report on Friday, August 22nd. The Goldman Sachs Group raised shares of Broadstone Net Lease from a “sell” rating to a “buy” rating and set a $21.00 price target for the company in a report on Thursday, August 21st. UBS Group upped their price objective on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, August 15th. KeyCorp upgraded shares of Broadstone Net Lease from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research report on Tuesday, August 19th. Finally, JMP Securities restated a “market outperform” rating and issued a $21.00 price target on shares of Broadstone Net Lease in a research report on Monday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Broadstone Net Lease presently has a consensus rating of “Moderate Buy” and an average price target of $19.43.

Broadstone Net Lease Stock Down 0.5%

Shares of NYSE BNL opened at $18.50 on Wednesday. The firm has a market cap of $3.50 billion, a PE ratio of 35.58 and a beta of 1.01. Broadstone Net Lease, Inc. has a 12-month low of $13.96 and a 12-month high of $19.15. The company’s fifty day simple moving average is $17.13 and its 200 day simple moving average is $16.53.

Broadstone Net Lease Dividend Announcement

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 paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.16 annualized dividend and a yield of 6.3%. Broadstone Net Lease’s dividend payout ratio is currently 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.