Allianz Asset Management GmbH Buys 13,199 Shares of Broadstone Net Lease, Inc. $BNL

Allianz Asset Management GmbH grew its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 1.0% during the second quarter, Holdings Channel.com reports. The fund owned 1,302,091 shares of the company’s stock after purchasing an additional 13,199 shares during the quarter. Allianz Asset Management GmbH’s holdings in Broadstone Net Lease were worth $20,899,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Wolff Wiese Magana LLC bought a new stake in shares of Broadstone Net Lease in the 2nd quarter worth $45,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Broadstone Net Lease in the 1st quarter worth $115,000. CWM LLC grew its stake in shares of Broadstone Net Lease by 885.2% in the 2nd quarter. CWM LLC now owns 7,773 shares of the company’s stock worth $125,000 after acquiring an additional 6,984 shares in the last quarter. KBC Group NV grew its stake in shares of Broadstone Net Lease by 15.1% in the 1st quarter. KBC Group NV now owns 9,094 shares of the company’s stock worth $155,000 after acquiring an additional 1,193 shares in the last quarter. Finally, Arrow Investment Advisors LLC bought a new stake in shares of Broadstone Net Lease in the 2nd quarter worth $172,000. Institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Stock Performance

Shares of BNL opened at $18.60 on Monday. The business has a 50-day moving average of $18.14 and a 200 day moving average of $16.75. Broadstone Net Lease, Inc. has a fifty-two week low of $13.96 and a fifty-two week high of $18.85. The firm has a market cap of $3.52 billion, a P/E ratio of 35.76 and a beta of 1.00.

Broadstone Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a $0.29 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.16 annualized dividend and a yield of 6.2%. Broadstone Net Lease’s dividend payout ratio (DPR) is 223.08%.

Analyst Ratings Changes

BNL has been the subject of several recent analyst reports. KeyCorp upgraded shares of Broadstone Net Lease from a “sector weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research note on Tuesday, August 19th. Cantor Fitzgerald initiated coverage on Broadstone Net Lease in a research report on Wednesday, October 1st. They set an “overweight” rating and a $21.00 target price for the company. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 target price on shares of Broadstone Net Lease in a research report on Monday, September 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Broadstone Net Lease in a research report on Wednesday, October 8th. Finally, Wolfe Research raised Broadstone Net Lease from a “peer perform” rating to an “outperform” rating and set a $19.00 target price for the company in a research report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.89.

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.