New England Private Wealth Advisors LLC purchased a new stake in Broadstone Net Lease, Inc. (NYSE:BNL – Free Report) during the fourth quarter, Holdings Channel reports. The firm purchased 1,578,911 shares of the company’s stock, valued at approximately $27,426,000. Broadstone Net Lease comprises 3.3% of New England Private Wealth Advisors LLC’s portfolio, making the stock its 5th biggest holding.
Other large investors have also recently bought and sold shares of the company. Strategic Advocates LLC bought a new stake in shares of Broadstone Net Lease in the 3rd quarter worth about $30,000. CIBC Private Wealth Group LLC grew its holdings in shares of Broadstone Net Lease by 42.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,000 shares of the company’s stock worth $35,000 after purchasing an additional 600 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Broadstone Net Lease in the 3rd quarter worth about $61,000. EverSource Wealth Advisors LLC grew its holdings in shares of Broadstone Net Lease by 80.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,261 shares of the company’s stock worth $68,000 after purchasing an additional 1,906 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Broadstone Net Lease by 33.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,527 shares of the company’s stock worth $96,000 after purchasing an additional 1,385 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.
Broadstone Net Lease Stock Up 0.8%
Shares of BNL opened at $21.07 on Friday. Broadstone Net Lease, Inc. has a 12-month low of $15.66 and a 12-month high of $21.50. The firm has a market capitalization of $4.03 billion, a PE ratio of 32.41 and a beta of 0.95. The stock’s fifty day simple moving average is $20.05 and its 200-day simple moving average is $18.99.
Broadstone Net Lease Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Broadstone Net Lease’s dividend payout ratio is 180.00%.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on BNL shares. Truist Financial set a $22.00 target price on shares of Broadstone Net Lease in a report on Monday. Weiss Ratings raised shares of Broadstone Net Lease from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Citizens Jmp lowered shares of Broadstone Net Lease from an “outperform” rating to a “market perform” rating in a report on Friday. Cantor Fitzgerald upped their target price on shares of Broadstone Net Lease from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Finally, UBS Group upped their target price on shares of Broadstone Net Lease from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, March 9th. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Broadstone Net Lease presently has an average rating of “Moderate Buy” and a consensus price target of $20.56.
Check Out Our Latest Analysis on BNL
About Broadstone Net Lease
Broadstone Net Lease, Inc (NYSE: BNL) is a publicly traded real estate investment trust focused on owning and operating single-tenant commercial properties under long-term net leases. The company specializes in acquiring properties that are leased to creditworthy tenants, allowing it to generate predictable, stable rental income while transferring most operating expenses and responsibilities to its lessees.
Broadstone Net Lease’s portfolio spans a variety of property types, including industrial facilities, distribution centers, manufacturing plants, life science and office buildings, and essential retail locations.
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