Mirae Asset Global Investments Co. Ltd. Sells 1,177 Shares of Broadstone Net Lease, Inc. $BNL

Mirae Asset Global Investments Co. Ltd. lessened its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 23.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,916 shares of the company’s stock after selling 1,177 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Broadstone Net Lease were worth $63,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wolff Wiese Magana LLC bought a new stake in Broadstone Net Lease during the second quarter worth about $45,000. Prairiewood Capital LLC raised its holdings in Broadstone Net Lease by 4.4% during the second quarter. Prairiewood Capital LLC now owns 341,334 shares of the company’s stock worth $5,478,000 after acquiring an additional 14,313 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in Broadstone Net Lease by 1.7% during the second quarter. Public Employees Retirement System of Ohio now owns 271,402 shares of the company’s stock worth $4,356,000 after acquiring an additional 4,466 shares in the last quarter. Arrow Investment Advisors LLC bought a new stake in Broadstone Net Lease during the second quarter worth about $172,000. Finally, BTC Capital Management Inc. raised its holdings in Broadstone Net Lease by 9.9% during the second quarter. BTC Capital Management Inc. now owns 158,289 shares of the company’s stock worth $2,505,000 after acquiring an additional 14,318 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Trading Down 1.5%

Broadstone Net Lease stock opened at $18.06 on Monday. Broadstone Net Lease, Inc. has a 12 month low of $13.96 and a 12 month high of $18.85. The stock’s 50 day moving average is $17.98 and its 200-day moving average is $16.70. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 34.73 and a beta of 1.00.

Broadstone Net Lease Dividend Announcement

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 given a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 6.4%. Broadstone Net Lease’s dividend payout ratio is presently 223.08%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. The Goldman Sachs Group upgraded Broadstone Net Lease from a “sell” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Thursday, August 21st. KeyCorp upgraded 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 note on Tuesday, August 19th. Cantor Fitzgerald initiated coverage on Broadstone Net Lease in a research note on Wednesday, October 1st. They issued an “overweight” rating and a $21.00 price objective on the stock. BTIG Research restated a “buy” rating and issued a $22.00 price objective on shares of Broadstone Net Lease in a research note on Wednesday, October 1st. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Broadstone Net Lease in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.89.

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.