Hsbc Holdings PLC acquired a new stake in Broadstone Net Lease, Inc. (NYSE:BNL – Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 367,632 shares of the company’s stock, valued at approximately $7,600,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in Broadstone Net Lease by 187.3% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 103,751 shares of the company’s stock valued at $1,802,000 after acquiring an additional 67,637 shares during the period. California State Teachers Retirement System raised its position in shares of Broadstone Net Lease by 30.2% during the first quarter. California State Teachers Retirement System now owns 236,627 shares of the company’s stock worth $4,323,000 after purchasing an additional 54,892 shares during the period. Indivisible Partners acquired a new stake in shares of Broadstone Net Lease during the fourth quarter worth about $1,465,000. Quantinno Capital Management LP lifted its holdings in shares of Broadstone Net Lease by 164.8% during the 1st quarter. Quantinno Capital Management LP now owns 91,618 shares of the company’s stock valued at $1,674,000 after purchasing an additional 57,021 shares in the last quarter. Finally, LSV Asset Management grew its position in shares of Broadstone Net Lease by 60.9% in the 4th quarter. LSV Asset Management now owns 2,156,500 shares of the company’s stock valued at $37,458,000 after purchasing an additional 816,100 shares during the period. Institutional investors own 89.07% of the company’s stock.
Broadstone Net Lease Stock Performance
NYSE BNL opened at $21.13 on Friday. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 27.80 and a beta of 0.92. The stock’s 50 day moving average price is $21.49 and its two-hundred day moving average price is $20.33. Broadstone Net Lease, Inc. has a 52 week low of $17.16 and a 52 week high of $23.10.
Broadstone Net Lease Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.2925 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.17 dividend on an annualized basis and a yield of 5.5%. Broadstone Net Lease’s dividend payout ratio (DPR) is 153.95%.
Analyst Ratings Changes
A number of research firms recently issued reports on BNL. Weiss Ratings reissued a “buy (b)” rating on shares of Broadstone Net Lease in a research note on Friday, July 31st. Citizens Jmp cut shares of Broadstone Net Lease from an “outperform” rating to a “market perform” rating in a report on Friday, June 12th. Cantor Fitzgerald increased their price objective on shares of Broadstone Net Lease from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Citigroup lowered shares of Broadstone Net Lease from a “market perform” rating to a “market perform” rating in a report on Friday, June 12th. Finally, 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 research report on Thursday, July 9th. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Broadstone Net Lease currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.78.
View Our Latest Stock Report on Broadstone Net Lease
Insiders Place Their Bets
In other Broadstone Net Lease news, Director Richard P. Imperiale purchased 5,000 shares of the stock in a transaction on Thursday, August 20th. The shares were purchased at an average cost of $21.22 per share, for a total transaction of $106,100.00. Following the purchase, the director owned 26,250 shares of the company’s stock, valued at approximately $557,025. This represents a 23.53% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.02% of the company’s stock.
Broadstone Net Lease 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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