Broadstone Net Lease, Inc. (NYSE:BNL) Stake Boosted by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 10.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,122 shares of the company’s stock after purchasing an additional 9,996 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned approximately 0.06% of Broadstone Net Lease worth $1,685,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Brinker Capital Investments LLC grew its stake in Broadstone Net Lease by 2.3% during the 1st quarter. Brinker Capital Investments LLC now owns 22,698 shares of the company’s stock valued at $494,000 after acquiring an additional 518 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Broadstone Net Lease by 1.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 44,455 shares of the company’s stock valued at $694,000 after buying an additional 607 shares during the last quarter. FMR LLC lifted its holdings in shares of Broadstone Net Lease by 16.9% during the 1st quarter. FMR LLC now owns 4,356 shares of the company’s stock valued at $74,000 after buying an additional 631 shares during the last quarter. First Republic Investment Management Inc. lifted its holdings in shares of Broadstone Net Lease by 2.8% during the 2nd quarter. First Republic Investment Management Inc. now owns 25,698 shares of the company’s stock valued at $527,000 after buying an additional 698 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Broadstone Net Lease by 1.9% during the 2nd quarter. Victory Capital Management Inc. now owns 38,490 shares of the company’s stock valued at $594,000 after buying an additional 727 shares during the last quarter. Hedge funds and other institutional investors own 77.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BNL. Wolfe Research upgraded Broadstone Net Lease from a “peer perform” rating to an “outperform” rating and set a $17.00 price target for the company in a report on Wednesday, October 18th. Truist Financial reduced their target price on Broadstone Net Lease from $19.00 to $18.00 in a report on Wednesday, August 30th. TheStreet lowered Broadstone Net Lease from a “b-” rating to a “c+” rating in a report on Friday, October 20th. Finally, JMP Securities began coverage on Broadstone Net Lease in a report on Thursday, September 21st. They issued a “market perform” rating for the company.

Broadstone Net Lease Stock Performance

BNL opened at $15.30 on Monday. The business has a 50 day moving average price of $14.74 and a 200 day moving average price of $15.60. Broadstone Net Lease, Inc. has a twelve month low of $13.68 and a twelve month high of $18.54. The firm has a market cap of $2.87 billion, a P/E ratio of 15.45 and a beta of 1.09.

Broadstone Net Lease Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.285 per share. The ex-dividend date of this dividend is Thursday, December 28th. This is a positive change from Broadstone Net Lease’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 7.45%. Broadstone Net Lease’s payout ratio is 115.15%.

About Broadstone Net Lease

BNL is an industrial-focused, diversified net lease 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. Utilizing an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting, as of September 30, 2023, BNL's diversified portfolio consisted of 800 individual net leased commercial properties with 793 properties located in 44 U.S.