Farther Finance Advisors LLC Has $1.17 Million Stake in Broadstone Net Lease, Inc. $BNL

Farther Finance Advisors LLC trimmed its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 6.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,675 shares of the company’s stock after selling 4,897 shares during the period. Farther Finance Advisors LLC’s holdings in Broadstone Net Lease were worth $1,166,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Broadstone Net Lease in the first quarter valued at $115,000. KBC Group NV grew its position in Broadstone Net Lease by 15.1% in the first quarter. KBC Group NV now owns 9,094 shares of the company’s stock valued at $155,000 after acquiring an additional 1,193 shares during the period. D. E. Shaw & Co. Inc. bought a new stake in Broadstone Net Lease in the fourth quarter valued at $183,000. Squarepoint Ops LLC bought a new stake in Broadstone Net Lease in the fourth quarter valued at $198,000. Finally, FJ Capital Management LLC bought a new stake in Broadstone Net Lease in the first quarter valued at $201,000. 89.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BNL has been the topic of a number of analyst reports. KeyCorp upgraded Broadstone Net Lease from a “sector weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a research report on Tuesday, August 19th. Wolfe Research upgraded Broadstone Net Lease from a “peer perform” rating to an “outperform” rating and set a $19.00 price objective for the company in a research report on Monday, July 28th. UBS Group lifted their price objective on Broadstone Net Lease from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Friday, August 15th. Wall Street Zen downgraded Broadstone Net Lease from a “hold” rating to a “sell” rating in a research report on Friday, August 22nd. Finally, The Goldman Sachs Group upgraded Broadstone Net Lease from a “sell” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.43.

Broadstone Net Lease Stock Performance

NYSE BNL opened at $18.06 on Thursday. The stock has a fifty day moving average of $17.42 and a 200-day moving average of $16.60. The stock has a market capitalization of $3.42 billion, a P/E ratio of 34.73 and a beta of 1.01. Broadstone Net Lease, Inc. has a 52 week low of $13.96 and a 52 week high of $19.15.

Broadstone Net Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend is 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.