Pictet Asset Management SA Buys 3,412 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Pictet Asset Management SA grew its holdings in Broadstone Net Lease, Inc. (NYSE:BNLGet Rating) by 5.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 64,936 shares of the company’s stock after purchasing an additional 3,412 shares during the quarter. Pictet Asset Management SA’s holdings in Broadstone Net Lease were worth $1,332,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Teacher Retirement System of Texas boosted its stake in shares of Broadstone Net Lease by 7.9% in the 1st quarter. Teacher Retirement System of Texas now owns 33,270 shares of the company’s stock valued at $725,000 after purchasing an additional 2,432 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Broadstone Net Lease by 119.8% in the 2nd quarter. SG Americas Securities LLC now owns 75,500 shares of the company’s stock valued at $1,549,000 after purchasing an additional 41,150 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Broadstone Net Lease by 8.9% in the 2nd quarter. Van ECK Associates Corp now owns 15,353 shares of the company’s stock valued at $315,000 after purchasing an additional 1,257 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Broadstone Net Lease by 22.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,308,913 shares of the company’s stock valued at $72,068,000 after purchasing an additional 596,561 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Broadstone Net Lease by 9.1% in the 1st quarter. Principal Financial Group Inc. now owns 12,867,003 shares of the company’s stock valued at $280,244,000 after purchasing an additional 1,071,012 shares during the last quarter. Institutional investors own 74.04% of the company’s stock.

Broadstone Net Lease Stock Performance

Shares of BNL stock opened at $17.36 on Wednesday. The company has a market capitalization of $3.01 billion, a P/E ratio of 24.45 and a beta of 1.18. The company’s 50 day moving average price is $16.80 and its two-hundred day moving average price is $19.37. Broadstone Net Lease, Inc. has a 52 week low of $14.98 and a 52 week high of $26.33.

Broadstone Net Lease Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, January 15th. Shareholders of record on Saturday, December 31st will be issued a dividend of $0.275 per share. This is an increase from Broadstone Net Lease’s previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a yield of 6.34%. The ex-dividend date is Thursday, December 29th. Broadstone Net Lease’s dividend payout ratio (DPR) is 152.11%.

Analysts Set New Price Targets

BNL has been the topic of several recent research reports. BTIG Research reduced their target price on shares of Broadstone Net Lease from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, October 6th. Morgan Stanley reduced their price objective on shares of Broadstone Net Lease from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 2nd. Truist Financial lifted their price objective on shares of Broadstone Net Lease to $23.00 in a research note on Tuesday, September 6th. Finally, BMO Capital Markets reduced their price objective on shares of Broadstone Net Lease from $24.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday, September 26th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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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