Evermay Wealth Management LLC Boosts Stock Position in Broadstone Net Lease, Inc. $BNL

Evermay Wealth Management LLC lifted its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 1.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,560 shares of the company’s stock after purchasing an additional 656 shares during the period. Evermay Wealth Management LLC’s holdings in Broadstone Net Lease were worth $766,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Broadstone Net Lease during the second quarter worth about $2,042,000. Allianz Asset Management GmbH lifted its holdings in Broadstone Net Lease by 1.0% in the second quarter. Allianz Asset Management GmbH now owns 1,302,091 shares of the company’s stock worth $20,899,000 after buying an additional 13,199 shares during the period. CWM LLC lifted its holdings in Broadstone Net Lease by 885.2% in the second quarter. CWM LLC now owns 7,773 shares of the company’s stock worth $125,000 after buying an additional 6,984 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in Broadstone Net Lease by 16.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 31,915 shares of the company’s stock worth $512,000 after buying an additional 4,573 shares during the period. Finally, Aberdeen Group plc lifted its holdings in Broadstone Net Lease by 13.0% in the second quarter. Aberdeen Group plc now owns 57,564 shares of the company’s stock worth $924,000 after buying an additional 6,618 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on BNL. Weiss Ratings restated a “hold (c+)” rating on shares of Broadstone Net Lease in a report on Wednesday, October 8th. 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. 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. JMP Securities restated a “market outperform” rating and issued a $21.00 price objective on shares of Broadstone Net Lease in a report on Monday, September 29th. Finally, UBS Group raised 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. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Broadstone Net Lease has a consensus rating of “Moderate Buy” and an average price target of $19.89.

Broadstone Net Lease Stock Performance

Shares of NYSE BNL opened at $18.60 on Monday. Broadstone Net Lease, Inc. has a fifty-two week low of $13.96 and a fifty-two week high of $18.85. The company has a 50 day simple moving average of $18.14 and a two-hundred day simple moving average of $16.75. The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of 35.76 and a beta of 1.00.

Broadstone Net Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.2%. Broadstone Net Lease’s dividend payout ratio (DPR) 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.