IFM Investors Pty Ltd Lowers Position in Broadstone Net Lease, Inc. $BNL

IFM Investors Pty Ltd reduced its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 19.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,413 shares of the company’s stock after selling 7,474 shares during the quarter. IFM Investors Pty Ltd’s holdings in Broadstone Net Lease were worth $488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in BNL. Exchange Traded Concepts LLC boosted its position in Broadstone Net Lease by 11.7% during the 2nd quarter. Exchange Traded Concepts LLC now owns 101,199 shares of the company’s stock valued at $1,624,000 after buying an additional 10,575 shares during the period. Post Resch Tallon Group Inc. raised its stake in shares of Broadstone Net Lease by 0.6% during the second quarter. Post Resch Tallon Group Inc. now owns 296,961 shares of the company’s stock valued at $4,766,000 after acquiring an additional 1,723 shares during the last quarter. Canandaigua National Trust Co of Florida purchased a new stake in shares of Broadstone Net Lease during the second quarter worth about $965,000. Modern Wealth Management LLC grew its stake in shares of Broadstone Net Lease by 19.5% in the first quarter. Modern Wealth Management LLC now owns 113,416 shares of the company’s stock worth $1,933,000 after purchasing an additional 18,522 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of Broadstone Net Lease in the first quarter worth about $6,245,000. Institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

BNL has been the subject of several research analyst reports. UBS Group increased their price objective on Broadstone Net Lease from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday, August 15th. The Goldman Sachs Group raised Broadstone Net Lease from a “sell” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Thursday, August 21st. Wolfe Research upgraded shares of 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 restated a “market outperform” rating and issued a $21.00 price objective on shares of Broadstone Net Lease in a report on Monday, June 2nd. Finally, KeyCorp raised 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 note on Tuesday, August 19th. One 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $19.43.

Broadstone Net Lease Stock Up 0.1%

BNL stock opened at $18.31 on Wednesday. The business has a 50 day moving average of $17.37 and a 200 day moving average of $16.59. The firm has a market cap of $3.46 billion, a PE ratio of 35.20 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. Stockholders of record on Tuesday, September 30th will be paid a $0.29 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 6.3%. Broadstone Net Lease’s payout ratio is currently 223.08%.

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.