Balyasny Asset Management LLC increased its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL – Get Rating) by 120.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,012,298 shares of the company’s stock after buying an additional 1,098,537 shares during the period. Balyasny Asset Management LLC owned about 1.16% of Broadstone Net Lease worth $31,251,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of BNL. FMR LLC increased its position in Broadstone Net Lease by 67.8% during the second quarter. FMR LLC now owns 1,903 shares of the company’s stock worth $39,000 after purchasing an additional 769 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Broadstone Net Lease by 205.6% in the second quarter. Lazard Asset Management LLC now owns 4,052 shares of the company’s stock worth $83,000 after acquiring an additional 2,726 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Broadstone Net Lease in the third quarter worth $84,000. Mackenzie Financial Corp increased its position in shares of Broadstone Net Lease by 11.9% in the first quarter. Mackenzie Financial Corp now owns 9,778 shares of the company’s stock worth $213,000 after acquiring an additional 1,038 shares in the last quarter. Finally, Handelsbanken Fonder AB acquired a new stake in shares of Broadstone Net Lease in the third quarter worth $171,000. Hedge funds and other institutional investors own 79.29% of the company’s stock.
Insider Transactions at Broadstone Net Lease
In other Broadstone Net Lease news, CFO Kevin Fennell purchased 3,250 shares of Broadstone Net Lease stock in a transaction dated Friday, March 10th. The shares were bought at an average cost of $16.45 per share, for a total transaction of $53,462.50. Following the transaction, the chief financial officer now owns 59,556 shares in the company, valued at approximately $979,696.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Broadstone Net Lease news, SVP Roderick Pickney sold 8,404 shares of the firm’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $17.85, for a total value of $150,011.40. Following the completion of the transaction, the senior vice president now directly owns 58,008 shares in the company, valued at $1,035,442.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kevin Fennell bought 3,250 shares of the firm’s stock in a transaction on Friday, March 10th. The stock was purchased at an average price of $16.45 per share, with a total value of $53,462.50. Following the completion of the acquisition, the chief financial officer now owns 59,556 shares of the company’s stock, valued at $979,696.20. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 14,250 shares of company stock worth $248,993. 0.84% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Broadstone Net Lease Stock Performance
Broadstone Net Lease stock opened at $16.96 on Wednesday. The firm’s 50-day moving average is $17.62 and its 200-day moving average is $17.34. Broadstone Net Lease, Inc. has a 1 year low of $14.98 and a 1 year high of $22.80. The company has a market cap of $3.16 billion, a P/E ratio of 23.60 and a beta of 1.13.
Broadstone Net Lease Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Friday, March 31st will be given a $0.275 dividend. The ex-dividend date is Thursday, March 30th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 6.49%. Broadstone Net Lease’s payout ratio is currently 152.78%.
Broadstone Net Lease Company Profile
BNL is an internally-managed REIT that acquires, owns, and manages primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. The Company utilizes an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting.
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