VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 127,200 Broadstone Net Lease, Inc. $BNL

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Broadstone Net Lease, Inc. (NYSE:BNL) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 127,200 shares of the company’s stock, valued at approximately $2,042,000.

Several other large investors have also recently bought and sold shares of BNL. SG Americas Securities LLC bought a new position in Broadstone Net Lease in the 1st quarter valued at about $375,000. QRG Capital Management Inc. raised its holdings in Broadstone Net Lease by 11.3% in the 1st quarter. QRG Capital Management Inc. now owns 14,078 shares of the company’s stock valued at $240,000 after acquiring an additional 1,427 shares during the period. State of Alaska Department of Revenue raised its holdings in Broadstone Net Lease by 1.3% in the 1st quarter. State of Alaska Department of Revenue now owns 91,475 shares of the company’s stock valued at $1,558,000 after acquiring an additional 1,157 shares during the period. Asset Management One Co. Ltd. raised its holdings in Broadstone Net Lease by 1.6% in the 1st quarter. Asset Management One Co. Ltd. now owns 373,094 shares of the company’s stock valued at $6,358,000 after acquiring an additional 5,765 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Broadstone Net Lease by 27.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 57,239 shares of the company’s stock valued at $979,000 after acquiring an additional 12,284 shares during the period. 89.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BNL shares. BTIG Research reissued a “buy” rating and issued a $22.00 price target on shares of Broadstone Net Lease in a report on Wednesday, October 1st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Broadstone Net Lease in a report on Wednesday, October 8th. Wolfe Research raised 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 report on Monday, July 28th. Cantor Fitzgerald began coverage on shares of Broadstone Net Lease in a report on Wednesday, October 1st. They set an “overweight” rating and a $21.00 target price on the stock. Finally, UBS Group raised their target price on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.89.

Broadstone Net Lease Trading Down 0.6%

Shares of BNL opened at $18.72 on Wednesday. Broadstone Net Lease, Inc. has a 12 month low of $13.96 and a 12 month high of $18.87. The firm’s 50 day moving average is $18.22 and its 200-day moving average is $16.78. The stock has a market capitalization of $3.54 billion, a PE ratio of 36.00 and a beta of 1.00.

Broadstone Net Lease Announces Dividend

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

About Broadstone Net Lease

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.