Broadstone Net Lease, Inc. (NYSE:BNL) Shares Acquired by Swiss National Bank

Swiss National Bank lifted its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNLGet Rating) by 0.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 385,000 shares of the company’s stock after acquiring an additional 3,600 shares during the period. Swiss National Bank owned 0.23% of Broadstone Net Lease worth $7,896,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Broadstone Net Lease by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 22,942,959 shares of the company’s stock worth $499,698,000 after acquiring an additional 269,047 shares in the last quarter. Principal Financial Group Inc. increased its position in Broadstone Net Lease by 9.1% during the first quarter. Principal Financial Group Inc. now owns 12,867,003 shares of the company’s stock worth $280,244,000 after buying an additional 1,071,012 shares during the period. State Street Corp increased its position in Broadstone Net Lease by 16.8% during the first quarter. State Street Corp now owns 7,430,232 shares of the company’s stock worth $163,754,000 after buying an additional 1,067,308 shares during the period. Massachusetts Financial Services Co. MA increased its position in Broadstone Net Lease by 22.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,308,913 shares of the company’s stock worth $72,068,000 after buying an additional 596,561 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Broadstone Net Lease by 4.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,945,341 shares of the company’s stock worth $42,370,000 after buying an additional 84,115 shares during the period. Institutional investors and hedge funds own 74.04% of the company’s stock.

Broadstone Net Lease Stock Performance

BNL opened at $17.41 on Tuesday. The business’s fifty day moving average is $16.84 and its two-hundred day moving average is $19.39. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 24.52 and a beta of 1.18. Broadstone Net Lease, Inc. has a one year low of $14.98 and a one year high of $26.34.

Broadstone Net Lease Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, January 15th. Shareholders of record on Saturday, December 31st will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 6.32%. This is an increase from Broadstone Net Lease’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Thursday, December 29th. Broadstone Net Lease’s payout ratio is presently 152.11%.

Analyst Ratings Changes

Several research analysts have commented on the company. BMO Capital Markets cut their price target on Broadstone Net Lease from $24.00 to $19.00 and set a “buy” rating on the stock in a research report on Monday, September 26th. Truist Financial boosted their target price on Broadstone Net Lease to $23.00 in a report on Tuesday, September 6th. Morgan Stanley dropped their target price on Broadstone Net Lease from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 2nd. Finally, BTIG Research dropped their target price on Broadstone Net Lease from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, October 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $21.20.

About Broadstone Net Lease

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BNL is an internally-managed REIT that acquires, owns, and manages primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. The Company utilizes an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting.

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Institutional Ownership by Quarter for Broadstone Net Lease (NYSE:BNL)

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