Zimmer Partners LP Has $1.07 Million Stock Holdings in Broadstone Net Lease, Inc. $BNL

Zimmer Partners LP cut its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 80.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,500 shares of the company’s stock after selling 262,500 shares during the quarter. Zimmer Partners LP’s holdings in Broadstone Net Lease were worth $1,065,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Broadstone Net Lease by 1.0% in the first 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 stake in shares of Broadstone Net Lease by 1.1% in the first 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 stake in shares of Broadstone Net Lease by 2.2% in the first 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 in the first quarter worth $28,127,000. Finally, Allianz Asset Management GmbH increased its stake in shares of Broadstone Net Lease by 87.3% in the first 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.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BNL shares. UBS Group upped their price objective 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. The Goldman Sachs Group upgraded shares of Broadstone Net Lease from a “sell” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Thursday, August 21st. Wolfe Research upgraded shares of Broadstone Net Lease from a “peer perform” rating to an “outperform” rating and set a $19.00 price objective for the company in a report on Monday, July 28th. Wall Street Zen cut shares of Broadstone Net Lease from a “hold” rating to a “sell” rating in a report on Friday, August 22nd. Finally, KeyCorp upgraded shares of Broadstone Net Lease from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a report on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.43.

Broadstone Net Lease Price Performance

BNL stock opened at $18.54 on Wednesday. Broadstone Net Lease, Inc. has a 52-week low of $13.96 and a 52-week high of $19.15. The company has a 50-day moving average of $16.88 and a two-hundred day moving average of $16.46. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 35.65 and a beta of 1.01.

Broadstone Net Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.3%. Broadstone Net Lease’s dividend payout ratio is currently 223.08%.

About Broadstone Net Lease

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.