Broadstone Net Lease, Inc. (NYSE:BNL) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its position in Broadstone Net Lease, Inc. (NYSE:BNL) by 20.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 543,987 shares of the company’s stock after purchasing an additional 92,909 shares during the period. Envestnet Asset Management Inc.’s holdings in Broadstone Net Lease were worth $9,270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Rockefeller Capital Management L.P. raised its position in Broadstone Net Lease by 3.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 23,826 shares of the company’s stock worth $378,000 after acquiring an additional 892 shares during the period. Lazard Asset Management LLC raised its position in Broadstone Net Lease by 34.1% during the fourth quarter. Lazard Asset Management LLC now owns 76,592 shares of the company’s stock worth $1,214,000 after acquiring an additional 19,467 shares during the period. GAMMA Investing LLC raised its position in Broadstone Net Lease by 1,466.0% during the first quarter. GAMMA Investing LLC now owns 31,711 shares of the company’s stock worth $540,000 after acquiring an additional 29,686 shares during the period. Meritage Portfolio Management raised its position in Broadstone Net Lease by 33.9% during the first quarter. Meritage Portfolio Management now owns 386,997 shares of the company’s stock worth $6,594,000 after acquiring an additional 97,892 shares during the period. Finally, KBC Group NV grew its holdings 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 buying an additional 1,193 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BNL shares. Truist Financial upped their price objective on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the company a “hold” rating in a report on Monday, May 5th. UBS Group dropped their price objective on shares of Broadstone Net Lease from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, July 16th. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 target price on shares of Broadstone Net Lease in a research note on Monday, June 2nd. Finally, BMO Capital Markets set a $20.00 target price on shares of Broadstone Net Lease and gave the stock an “outperform” rating in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $18.50.

Broadstone Net Lease Stock Performance

Shares of BNL opened at $15.76 on Tuesday. The stock has a market capitalization of $2.98 billion, a PE ratio of 25.83 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 $16.04 and its 200-day simple moving average is $16.08.

Broadstone Net Lease Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.29 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.16 annualized dividend and a yield of 7.36%. Broadstone Net Lease’s dividend payout ratio (DPR) is 190.16%.

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.