Alesco Advisors LLC Reduces Position in Broadstone Net Lease, Inc. $BNL

Alesco Advisors LLC cut its position in Broadstone Net Lease, Inc. (NYSE:BNL) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 145,484 shares of the company’s stock after selling 1,550 shares during the period. Alesco Advisors LLC owned 0.08% of Broadstone Net Lease worth $2,335,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. BNP Paribas Financial Markets purchased a new position in shares of Broadstone Net Lease in the 4th quarter valued at $355,000. Bank of America Corp DE grew its position in shares of Broadstone Net Lease by 161.0% in the 4th quarter. Bank of America Corp DE now owns 761,471 shares of the company’s stock valued at $12,077,000 after buying an additional 469,733 shares during the last quarter. Deutsche Bank AG grew its position in shares of Broadstone Net Lease by 27.4% in the 4th quarter. Deutsche Bank AG now owns 245,444 shares of the company’s stock valued at $3,893,000 after buying an additional 52,718 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new position in shares of Broadstone Net Lease in the 4th quarter valued at $183,000. Finally, Lazard Asset Management LLC grew its position in shares of Broadstone Net Lease by 34.1% in the 4th quarter. Lazard Asset Management LLC now owns 76,592 shares of the company’s stock valued at $1,214,000 after buying an additional 19,467 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Broadstone Net Lease Stock Down 0.5%

Shares of NYSE BNL opened at $18.50 on Wednesday. Broadstone Net Lease, Inc. has a 52 week low of $13.96 and a 52 week high of $19.15. The firm has a 50-day moving average price of $17.13 and a 200 day moving average price of $16.53. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 35.58 and a beta of 1.01.

Broadstone Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.29 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 6.3%. Broadstone Net Lease’s dividend payout ratio (DPR) is 223.08%.

Analyst Ratings Changes

A number of research firms recently commented on BNL. Wall Street Zen downgraded shares of Broadstone Net Lease from a “hold” rating to a “sell” rating in a research report on Friday, August 22nd. UBS Group increased their target price on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Friday, August 15th. KeyCorp raised shares of Broadstone Net Lease from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research report on Tuesday, August 19th. The Goldman Sachs Group raised shares of Broadstone Net Lease from a “sell” rating to a “buy” rating and set a $21.00 price objective on the stock in a research report on Thursday, August 21st. Finally, Wolfe Research raised shares of Broadstone Net Lease from a “peer perform” rating to an “outperform” rating and set a $19.00 price objective on the stock in a research report on Monday, July 28th. One 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.43.

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.