Voya Investment Management LLC Sells 26,169 Shares of Broadstone Net Lease, Inc. $BNL

Voya Investment Management LLC reduced its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 16.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 137,756 shares of the company’s stock after selling 26,169 shares during the quarter. Voya Investment Management LLC owned about 0.07% of Broadstone Net Lease worth $2,347,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new stake in Broadstone Net Lease during the fourth quarter worth approximately $54,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Broadstone Net Lease during the first quarter worth approximately $115,000. KBC Group NV increased its stake in Broadstone Net Lease by 15.1% during the first quarter. KBC Group NV now owns 9,094 shares of the company’s stock worth $155,000 after acquiring an additional 1,193 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new stake in Broadstone Net Lease during the fourth quarter worth approximately $183,000. Finally, FJ Capital Management LLC bought a new stake in Broadstone Net Lease during the first quarter worth approximately $201,000. 89.07% of the stock is owned by institutional investors.

Broadstone Net Lease Trading Down 1.2%

Shares of BNL opened at $18.33 on Monday. Broadstone Net Lease, Inc. has a 12 month low of $13.96 and a 12 month high of $19.15. The stock has a fifty day moving average price of $17.28 and a 200-day moving average price of $16.57. The firm has a market cap of $3.47 billion, a PE ratio of 35.25 and a beta of 1.01.

Broadstone Net Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders 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 6.3%. The ex-dividend date is Tuesday, September 30th. Broadstone Net Lease’s dividend payout ratio is currently 223.08%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on BNL shares. Wolfe Research raised Broadstone Net Lease from a “peer perform” rating to an “outperform” rating and set a $19.00 price objective on the stock in a research note on Monday, July 28th. KeyCorp upgraded Broadstone Net Lease from a “sector weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a report on Tuesday, August 19th. Wall Street Zen downgraded Broadstone Net Lease from a “hold” rating to a “sell” rating in a report on Friday, August 22nd. The Goldman Sachs Group upgraded Broadstone Net Lease from a “sell” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Thursday, August 21st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $21.00 price target on shares of Broadstone Net Lease in a report on Monday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.43.

Broadstone Net Lease 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.