Canandaigua National Trust Co of Florida Buys Shares of 60,148 Broadstone Net Lease, Inc. $BNL

Canandaigua National Trust Co of Florida purchased a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 60,148 shares of the company’s stock, valued at approximately $965,000.

Other hedge funds have also made changes to their positions in the company. GF Fund Management CO. LTD. acquired a new stake in shares of Broadstone Net Lease during the fourth quarter worth about $54,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Broadstone Net Lease during the first quarter worth about $115,000. KBC Group NV lifted its position in shares of Broadstone Net Lease by 15.1% during the first quarter. KBC Group NV now owns 9,094 shares of the company’s stock worth $155,000 after purchasing an additional 1,193 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in shares of Broadstone Net Lease during the fourth quarter worth about $183,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Broadstone Net Lease during the fourth quarter worth about $198,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on BNL shares. The Goldman Sachs Group raised shares of Broadstone Net Lease from a “sell” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Thursday, August 21st. 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. Wall Street Zen cut shares of Broadstone Net Lease from a “hold” rating to a “sell” rating in a research report on Friday, August 22nd. Wolfe Research upgraded shares of Broadstone Net Lease from a “peer perform” rating to an “outperform” rating and set a $19.00 target price on the stock in a research note on Monday, July 28th. Finally, KeyCorp upgraded shares of Broadstone Net Lease from a “sector weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a research note on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Broadstone Net Lease currently has a consensus rating of “Moderate Buy” and an average price target of $19.43.

Broadstone Net Lease Stock Performance

BNL stock opened at $18.79 on Monday. The company’s 50 day moving average price is $17.03 and its 200 day moving average price is $16.51. Broadstone Net Lease, Inc. has a fifty-two week low of $13.96 and a fifty-two week high of $19.15. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 36.13 and a beta of 1.01.

Broadstone Net Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 6.2%. The ex-dividend date is Tuesday, September 30th. Broadstone Net Lease’s dividend payout ratio is currently 223.08%.

Broadstone Net Lease 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.