Nisa Investment Advisors LLC Sells 13,999 Shares of Broadstone Net Lease, Inc. $BNL

Nisa Investment Advisors LLC reduced its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 30.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 32,632 shares of the company’s stock after selling 13,999 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Broadstone Net Lease were worth $536,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of BNL. Jane Street Group LLC raised its holdings in shares of Broadstone Net Lease by 292.3% in the 1st quarter. Jane Street Group LLC now owns 553,738 shares of the company’s stock worth $9,436,000 after purchasing an additional 412,604 shares during the period. LPL Financial LLC lifted its position in shares of Broadstone Net Lease by 17.1% during the 1st quarter. LPL Financial LLC now owns 131,654 shares of the company’s stock valued at $2,243,000 after buying an additional 19,190 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Broadstone Net Lease by 20.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 543,987 shares of the company’s stock valued at $9,270,000 after buying an additional 92,909 shares during the last quarter. Vanguard Group Inc. raised its stake in Broadstone Net Lease by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 27,711,994 shares of the company’s stock valued at $472,212,000 after acquiring an additional 266,900 shares during the period. Finally, KBC Group NV increased its stake in shares of Broadstone Net Lease by 15.1% in the first quarter. KBC Group NV now owns 9,094 shares of the company’s stock worth $155,000 after purchasing an additional 1,193 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BNL shares. BTIG Research restated a “buy” rating and set a $22.00 target price on shares of Broadstone Net Lease in a research report on Wednesday, October 1st. UBS Group raised their price objective on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Friday, August 15th. The Goldman Sachs Group upgraded shares of 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. JMP Securities restated a “market outperform” rating and issued a $21.00 price objective on shares of Broadstone Net Lease in a research report on Monday, September 29th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Broadstone Net Lease in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Broadstone Net Lease currently has a consensus rating of “Moderate Buy” and an average target price of $19.89.

Broadstone Net Lease Price Performance

Shares of NYSE:BNL opened at $17.94 on Monday. The company’s fifty day moving average price is $18.42 and its 200-day moving average price is $16.98. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 38.16 and a beta of 1.00. Broadstone Net Lease, Inc. has a one year low of $13.96 and a one year high of $18.87.

Broadstone Net Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.16 annualized dividend and a yield of 6.5%. Broadstone Net Lease’s payout ratio is 246.81%.

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.