Broadstone Net Lease, Inc. (NYSE:BNL) Holdings Increased by BlackRock Inc.

BlackRock Inc. increased its stake in Broadstone Net Lease, Inc. (NYSE:BNL – Get Rating) by 1.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 14,500,020 shares of the company’s stock after acquiring an additional 180,046 shares during the period. BlackRock Inc. owned 0.08% of Broadstone Net Lease worth $225,186,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in BNL. Brinker Capital Investments LLC boosted its stake in Broadstone Net Lease by 2.3% during the 1st quarter. Brinker Capital Investments LLC now owns 22,698 shares of the company’s stock valued at $494,000 after purchasing an additional 518 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Broadstone Net Lease by 0.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 91,236 shares of the company’s stock valued at $1,416,000 after buying an additional 692 shares during the period. First Republic Investment Management Inc. boosted its stake in Broadstone Net Lease by 2.8% during the second quarter. First Republic Investment Management Inc. now owns 25,698 shares of the company’s stock valued at $527,000 after buying an additional 698 shares in the last quarter. FMR LLC grew its holdings in Broadstone Net Lease by 67.8% during the second quarter. FMR LLC now owns 1,903 shares of the company’s stock worth $39,000 after acquiring an additional 769 shares during the period. Finally, State of Alaska Department of Revenue raised its position in Broadstone Net Lease by 1.0% in the third quarter. State of Alaska Department of Revenue now owns 83,180 shares of the company’s stock worth $1,291,000 after acquiring an additional 795 shares in the last quarter. Institutional investors and hedge funds own 79.29% of the company’s stock.

Broadstone Net Lease Stock Up 2.7 %

Shares of NYSE BNL opened at $16.62 on Tuesday. The stock’s fifty day simple moving average is $17.61 and its 200 day simple moving average is $17.36. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 23.08 and a beta of 1.13. Broadstone Net Lease, Inc. has a 52-week low of $14.98 and a 52-week high of $22.80.

Broadstone Net Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Friday, March 31st will be paid a $0.275 dividend. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $1.10 dividend on an annualized basis and a yield of 6.62%. Broadstone Net Lease’s dividend payout ratio is currently 152.78%.

Analyst Ratings Changes

Separately, Morgan Stanley reduced their price objective on shares of Broadstone Net Lease from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Friday, December 16th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $21.00.

Insiders Place Their Bets

In other news, Director Michael A. Coke bought 10,000 shares of the firm’s stock in a transaction on Monday, February 27th. The stock was bought at an average cost of $17.92 per share, for a total transaction of $179,200.00. Following the completion of the acquisition, the director now directly owns 18,563 shares in the company, valued at approximately $332,648.96. The purchase was disclosed in a document filed with the SEC, which is available at this link. In related news, SVP Roderick Pickney sold 8,404 shares of the company’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $17.85, for a total transaction of $150,011.40. Following the transaction, the senior vice president now directly owns 58,008 shares of the company’s stock, valued at $1,035,442.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael A. Coke acquired 10,000 shares of the firm’s stock in a transaction on Monday, February 27th. The shares were acquired at an average price of $17.92 per share, with a total value of $179,200.00. Following the completion of the transaction, the director now directly owns 18,563 shares in the company, valued at approximately $332,648.96. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 14,250 shares of company stock worth $248,993. Company insiders own 0.84% of the company’s stock.

Broadstone Net Lease Profile

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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.