Broadstone Net Lease, Inc. (NYSE:BNL) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC decreased its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 2.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,572 shares of the company’s stock after selling 2,309 shares during the quarter. Farther Finance Advisors LLC’s holdings in Broadstone Net Lease were worth $1,326,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in Broadstone Net Lease by 1.6% in the 4th quarter. Principal Financial Group Inc. now owns 14,276,250 shares of the company’s stock valued at $226,423,000 after buying an additional 227,833 shares during the period. Geode Capital Management LLC raised its holdings in Broadstone Net Lease by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 4,860,444 shares of the company’s stock valued at $77,103,000 after buying an additional 15,501 shares during the period. Centersquare Investment Management LLC raised its holdings in Broadstone Net Lease by 7.1% in the 4th quarter. Centersquare Investment Management LLC now owns 4,011,419 shares of the company’s stock valued at $63,621,000 after buying an additional 265,428 shares during the period. Aew Capital Management L P raised its holdings in Broadstone Net Lease by 2.3% in the 4th quarter. Aew Capital Management L P now owns 3,135,949 shares of the company’s stock valued at $49,736,000 after buying an additional 69,690 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Broadstone Net Lease by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,077,513 shares of the company’s stock valued at $48,809,000 after buying an additional 71,709 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Stock Performance

Shares of BNL opened at $16.32 on Thursday. The stock has a market capitalization of $3.08 billion, a PE ratio of 18.75 and a beta of 1.00. Broadstone Net Lease, Inc. has a 1 year low of $13.96 and a 1 year high of $19.15. The company’s 50-day simple moving average is $15.85 and its 200-day simple moving average is $16.19.

Broadstone Net Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.11%. Broadstone Net Lease’s payout ratio is 190.16%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BNL shares. UBS Group dropped their price objective on Broadstone Net Lease from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. BMO Capital Markets set a $20.00 price objective on Broadstone Net Lease and gave the company an “outperform” rating in a research note on Monday, March 24th. Truist Financial increased their price target on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Monday, May 5th. Finally, JMP Securities reissued a “market outperform” rating and set a $21.00 price target on shares of Broadstone Net Lease in a research report on Monday, June 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Broadstone Net Lease presently has an average rating of “Moderate Buy” and a consensus target price of $18.67.

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.