Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Broadstone Net Lease, Inc. (NYSE:BNL – Free Report) in the 2nd quarter, Holdings Channel.com reports. The firm bought 163,924 shares of the company’s stock, valued at approximately $3,388,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BNL. Royal Bank of Canada boosted its holdings in shares of Broadstone Net Lease by 69.9% during the 1st quarter. Royal Bank of Canada now owns 91,943 shares of the company’s stock worth $1,566,000 after buying an additional 37,830 shares during the period. AQR Capital Management LLC grew its holdings in Broadstone Net Lease by 52.8% in the 1st quarter. AQR Capital Management LLC now owns 25,599 shares of the company’s stock valued at $436,000 after buying an additional 8,848 shares in the last quarter. Millennium Management LLC grew its holdings in Broadstone Net Lease by 2.3% in the 1st quarter. Millennium Management LLC now owns 1,147,372 shares of the company’s stock valued at $19,551,000 after buying an additional 25,944 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Broadstone Net Lease by 5.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,283,889 shares of the company’s stock worth $21,877,000 after buying an additional 70,534 shares during the period. Finally, Jane Street Group LLC increased its position in Broadstone Net Lease by 292.3% during the 1st quarter. Jane Street Group LLC now owns 553,738 shares of the company’s stock worth $9,436,000 after buying an additional 412,604 shares during the period. 89.07% of the stock is owned by institutional investors.
Broadstone Net Lease Stock Down 0.6%
BNL stock opened at $21.08 on Friday. Broadstone Net Lease, Inc. has a 52 week low of $17.16 and a 52 week high of $23.10. The business has a 50-day simple moving average of $21.43 and a 200 day simple moving average of $20.25. The company has a market cap of $4.05 billion, a PE ratio of 27.74 and a beta of 0.92.
Broadstone Net Lease Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Wednesday, September 30th. Broadstone Net Lease’s dividend payout ratio (DPR) is 153.95%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the stock. Citigroup cut shares of Broadstone Net Lease from a “market perform” rating to a “market perform” rating in a research report on Friday, June 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Broadstone Net Lease in a research report on Friday, July 31st. Citizens Jmp cut shares of Broadstone Net Lease from an “outperform” rating to a “market perform” rating in a research note on Friday, June 12th. KeyCorp boosted their price objective on shares of Broadstone Net Lease from $20.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Finally, Truist Financial set a $22.00 target price on shares of Broadstone Net Lease in a research report on Monday, June 8th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.78.
Get Our Latest Research Report on Broadstone Net Lease
Broadstone Net Lease Company Profile
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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