Ritholtz Wealth Management Buys 2,166 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Ritholtz Wealth Management boosted its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNLFree Report) by 9.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,421 shares of the company’s stock after acquiring an additional 2,166 shares during the period. Ritholtz Wealth Management’s holdings in Broadstone Net Lease were worth $438,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State of Wyoming bought a new position in shares of Broadstone Net Lease in the 2nd quarter valued at $26,000. Lazard Asset Management LLC bought a new position in shares of Broadstone Net Lease in the 2nd quarter valued at $30,000. Castleview Partners LLC bought a new position in shares of Broadstone Net Lease in the 3rd quarter valued at $36,000. FMR LLC increased its stake in shares of Broadstone Net Lease by 67.8% in the 2nd quarter. FMR LLC now owns 1,903 shares of the company’s stock valued at $39,000 after purchasing an additional 769 shares during the last quarter. Finally, Comerica Bank increased its stake in shares of Broadstone Net Lease by 1,195.0% in the 3rd quarter. Comerica Bank now owns 4,649 shares of the company’s stock valued at $66,000 after purchasing an additional 4,290 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

BNL has been the topic of several recent analyst reports. The Goldman Sachs Group initiated coverage on Broadstone Net Lease in a research note on Thursday, March 7th. They issued a “sell” rating and a $14.00 price target on the stock. TheStreet lowered Broadstone Net Lease from a “b-” rating to a “c+” rating in a research report on Thursday, February 22nd. Truist Financial reduced their price objective on Broadstone Net Lease from $18.00 to $17.00 and set a “hold” rating on the stock in a research report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. upgraded Broadstone Net Lease from a “neutral” rating to an “overweight” rating and set a $19.00 price objective on the stock in a research report on Monday, December 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $16.75.

View Our Latest Research Report on Broadstone Net Lease

Broadstone Net Lease Stock Up 1.5 %

Shares of BNL stock opened at $15.67 on Monday. The firm has a market capitalization of $2.94 billion, a P/E ratio of 19.11 and a beta of 1.08. Broadstone Net Lease, Inc. has a twelve month low of $13.68 and a twelve month high of $17.59. The stock’s fifty day simple moving average is $15.46 and its 200 day simple moving average is $15.59.

Broadstone Net Lease Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 7.28%. The ex-dividend date is Wednesday, March 27th. Broadstone Net Lease’s payout ratio is presently 139.03%.

Insiders Place Their Bets

In related news, CFO Kevin Fennell bought 4,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were purchased at an average cost of $14.63 per share, with a total value of $58,520.00. Following the acquisition, the chief financial officer now owns 63,556 shares of the company’s stock, valued at $929,824.28. The purchase was disclosed in a filing with the SEC, which is available through this link. In other Broadstone Net Lease news, Director Michael A. Coke acquired 10,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were bought at an average cost of $14.67 per share, with a total value of $146,700.00. Following the purchase, the director now directly owns 34,817 shares of the company’s stock, valued at $510,765.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevin Fennell acquired 4,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was acquired at an average cost of $14.63 per share, for a total transaction of $58,520.00. Following the completion of the purchase, the chief financial officer now directly owns 63,556 shares in the company, valued at $929,824.28. The disclosure for this purchase can be found here. Company insiders own 0.62% of the company’s stock.

About Broadstone Net Lease

(Free Report)

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.

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Institutional Ownership by Quarter for Broadstone Net Lease (NYSE:BNL)

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