State of Alaska Department of Revenue Has $1.69 Million Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

State of Alaska Department of Revenue trimmed its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 1.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 89,436 shares of the company’s stock after selling 1,081 shares during the quarter. State of Alaska Department of Revenue’s holdings in Broadstone Net Lease were worth $1,694,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of BNL. GAMMA Investing LLC lifted its position in shares of Broadstone Net Lease by 257.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $33,000 after acquiring an additional 1,272 shares during the period. Quarry LP increased its stake in Broadstone Net Lease by 93.1% in the second quarter. Quarry LP now owns 2,556 shares of the company’s stock valued at $41,000 after purchasing an additional 1,232 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Broadstone Net Lease by 156.5% during the third quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock valued at $74,000 after purchasing an additional 2,381 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Broadstone Net Lease by 35.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,314 shares of the company’s stock worth $138,000 after purchasing an additional 1,908 shares in the last quarter. Finally, Arden Trust Co acquired a new stake in shares of Broadstone Net Lease in the 2nd quarter valued at about $180,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Stock Down 0.7 %

Shares of Broadstone Net Lease stock opened at $17.46 on Friday. Broadstone Net Lease, Inc. has a 52 week low of $14.01 and a 52 week high of $19.15. The business has a 50 day moving average price of $18.38 and a 200-day moving average price of $16.83. The company has a market cap of $3.29 billion, a PE ratio of 22.97 and a beta of 1.12.

Broadstone Net Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 6.64%. The ex-dividend date of this dividend is Tuesday, December 31st. Broadstone Net Lease’s payout ratio is currently 152.63%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BNL shares. Truist Financial upped their price target on Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Wedbush initiated coverage on Broadstone Net Lease in a report on Monday, August 19th. They issued an “outperform” rating and a $20.00 target price on the stock. Finally, The Goldman Sachs Group lifted their price target on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a research report on Friday, September 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Broadstone Net Lease presently has a consensus rating of “Hold” and a consensus price target of $18.25.

Broadstone Net Lease 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.