State Board of Administration of Florida Retirement System Buys Shares of 10,279 Broadstone Net Lease, Inc. (NYSE:BNL)

State Board of Administration of Florida Retirement System bought a new stake in Broadstone Net Lease, Inc. (NYSE:BNL – Get Rating) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,279 shares of the company’s stock, valued at approximately $167,000.

Several other large investors have also recently bought and sold shares of the company. Brinker Capital Investments LLC boosted its holdings in shares of Broadstone Net Lease by 2.3% in the first quarter. Brinker Capital Investments LLC now owns 22,698 shares of the company’s stock valued at $494,000 after buying an additional 518 shares during the period. First Republic Investment Management Inc. boosted its holdings in shares of Broadstone Net Lease by 2.8% in 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 during the period. FMR LLC boosted its holdings in shares of Broadstone Net Lease by 67.8% in the second quarter. FMR LLC now owns 1,903 shares of the company’s stock valued at $39,000 after buying an additional 769 shares during the period. LPL Financial LLC boosted its holdings in shares of Broadstone Net Lease by 2.2% in the fourth quarter. LPL Financial LLC now owns 38,476 shares of the company’s stock valued at $624,000 after buying an additional 837 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in shares of Broadstone Net Lease by 11.9% in the first quarter. Mackenzie Financial Corp now owns 9,778 shares of the company’s stock valued at $213,000 after buying an additional 1,038 shares during the period. Institutional investors own 79.29% of the company’s stock.

Insider Buying and Selling

In other news, CFO Kevin Fennell purchased 3,250 shares of the business’s stock in a transaction on Friday, March 10th. The stock was purchased at an average price of $16.45 per share, for a total transaction of $53,462.50. Following the completion of the purchase, the chief financial officer now directly owns 59,556 shares in the company, valued at approximately $979,696.20. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Kevin Fennell purchased 3,250 shares of the business’s stock in a transaction on Friday, March 10th. The stock was purchased at an average price of $16.45 per share, for a total transaction of $53,462.50. Following the completion of the purchase, the chief financial officer now directly owns 59,556 shares in the company, valued at approximately $979,696.20. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John David Moragne purchased 5,982 shares of the business’s stock in a transaction on Friday, March 17th. The stock was purchased at an average price of $16.72 per share, with a total value of $100,019.04. Following the purchase, the chief executive officer now owns 152,256 shares of the company’s stock, valued at $2,545,720.32. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 26,432 shares of company stock worth $452,800. 0.62% of the stock is owned by insiders.

Broadstone Net Lease Trading Up 0.6 %

Shares of BNL opened at $15.98 on Tuesday. Broadstone Net Lease, Inc. has a 12 month low of $14.98 and a 12 month high of $22.72. The firm has a fifty day simple moving average of $16.33 and a 200 day simple moving average of $16.98. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 20.75 and a beta of 1.11.

Broadstone Net Lease Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be issued a dividend of $0.28 per share. This is a boost from Broadstone Net Lease’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, June 29th. This represents a $1.12 annualized dividend and a yield of 7.01%. Broadstone Net Lease’s dividend payout ratio is presently 142.86%.

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.