Ashton Thomas Private Wealth LLC Increases Stake in Broadstone Net Lease, Inc. $BNL

Ashton Thomas Private Wealth LLC increased its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 17.0% in the second quarter, Holdings Channel reports. The fund owned 42,940 shares of the company’s stock after purchasing an additional 6,246 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Broadstone Net Lease were worth $702,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BNL. Nuveen LLC purchased a new position in Broadstone Net Lease during the 1st quarter valued at about $28,127,000. Van Lanschot Kempen Investment Management N.V. bought a new position in shares of Broadstone Net Lease during the first quarter valued at approximately $11,646,000. Allianz Asset Management GmbH increased its holdings in Broadstone Net Lease by 87.3% during the first quarter. Allianz Asset Management GmbH now owns 1,288,892 shares of the company’s stock valued at $21,963,000 after buying an additional 600,633 shares during the period. Boston Partners purchased a new position in Broadstone Net Lease during the first quarter valued at approximately $8,071,000. Finally, Cetera Investment Advisers bought a new position in Broadstone Net Lease in the first quarter worth approximately $7,259,000. 89.07% of the stock is currently owned by institutional investors.

Broadstone Net Lease Price Performance

Shares of BNL stock opened at $17.76 on Friday. The stock’s fifty day moving average price is $18.42 and its 200 day moving average price is $16.94. Broadstone Net Lease, Inc. has a 1-year low of $13.96 and a 1-year high of $18.87. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 37.79 and a beta of 1.00.

Broadstone Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.5%. Broadstone Net Lease’s dividend payout ratio is currently 223.08%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BNL shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Broadstone Net Lease in a research report on Wednesday, October 8th. JMP Securities restated a “market outperform” rating and set a $21.00 price objective on shares of Broadstone Net Lease in a research note on Monday, September 29th. Cantor Fitzgerald started coverage on Broadstone Net Lease in a research note on Wednesday, October 1st. They issued an “overweight” rating and a $21.00 target price on the stock. UBS Group boosted their target price on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday, August 15th. Finally, The Goldman Sachs Group raised shares of Broadstone Net Lease from a “sell” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Broadstone Net Lease presently has a consensus rating of “Moderate Buy” and an average 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.