Sage Advisors LLC Sells 9,929 Shares of Broadstone Net Lease, Inc. $BNL

Sage Advisors LLC cut its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 1.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 898,007 shares of the company’s stock after selling 9,929 shares during the quarter. Broadstone Net Lease comprises 10.3% of Sage Advisors LLC’s portfolio, making the stock its 4th biggest holding. Sage Advisors LLC owned 0.47% of Broadstone Net Lease worth $14,413,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Broadstone Net Lease by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 27,711,994 shares of the company’s stock worth $472,212,000 after acquiring an additional 266,900 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Broadstone Net Lease by 1.1% during the 1st quarter. Alliancebernstein L.P. now owns 4,666,417 shares of the company’s stock worth $79,516,000 after acquiring an additional 51,754 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Broadstone Net Lease by 2.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,145,709 shares of the company’s stock worth $53,603,000 after acquiring an additional 68,196 shares during the last quarter. Nuveen LLC acquired a new position in shares of Broadstone Net Lease during the 1st quarter worth approximately $28,127,000. Finally, Allianz Asset Management GmbH increased its holdings in shares of Broadstone Net Lease by 87.3% during the 1st quarter. Allianz Asset Management GmbH now owns 1,288,892 shares of the company’s stock worth $21,963,000 after acquiring an additional 600,633 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BNL. Wolfe Research raised Broadstone Net Lease from a “peer perform” rating to an “outperform” rating and set a $19.00 price objective on the stock in a report on Monday, July 28th. The Goldman Sachs Group raised Broadstone Net Lease from a “sell” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Thursday, August 21st. Cantor Fitzgerald began coverage on Broadstone Net Lease in a report on Wednesday, October 1st. They issued an “overweight” rating and a $21.00 price objective on the stock. KeyCorp raised Broadstone Net Lease from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a report on Tuesday, August 19th. Finally, Wall Street Zen raised Broadstone Net Lease from a “sell” rating to a “hold” rating in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.89.

Broadstone Net Lease Stock Performance

BNL opened at $18.17 on Tuesday. The firm has a market cap of $3.44 billion, a P/E ratio of 34.94 and a beta of 1.00. Broadstone Net Lease, Inc. has a 52-week low of $13.96 and a 52-week high of $18.85. The business’s fifty day moving average is $18.01 and its 200-day moving average is $16.70.

Broadstone Net Lease Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Broadstone Net Lease’s dividend payout ratio is 223.08%.

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.