Mirae Asset Global Investments Co. Ltd. Boosts Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 608,567 shares of the company’s stock after buying an additional 8,926 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Broadstone Net Lease were worth $10,480,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in BNL. State of Wyoming bought a new position in Broadstone Net Lease during the second quarter worth about $26,000. FMR LLC boosted 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 period. Lazard Asset Management LLC bought a new position in Broadstone Net Lease during the second quarter worth about $30,000. Castleview Partners LLC bought a new position in Broadstone Net Lease during the third quarter worth about $36,000. Finally, Comerica Bank boosted its position in Broadstone Net Lease by 1,195.0% during the third quarter. Comerica Bank now owns 4,649 shares of the company’s stock worth $66,000 after purchasing an additional 4,290 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

BNL has been the subject of a number of research reports. Wolfe Research reiterated a “peer perform” rating on shares of Broadstone Net Lease in a research report on Tuesday. JPMorgan Chase & Co. upgraded shares of Broadstone Net Lease from a “neutral” rating to an “overweight” rating and set a $19.00 price objective for the company in a research report on Monday, December 18th. TheStreet cut shares of Broadstone Net Lease from a “b-” rating to a “c+” rating in a research note on Thursday, February 22nd. The Goldman Sachs Group initiated coverage on shares of Broadstone Net Lease in a research note on Thursday, March 7th. They set a “sell” rating and a $14.00 price objective for the company. Finally, Truist Financial reduced their price objective on shares of Broadstone Net Lease from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $16.75.

Broadstone Net Lease Price Performance

BNL stock opened at $14.68 on Friday. Broadstone Net Lease, Inc. has a one year low of $13.68 and a one year high of $17.59. The stock has a market cap of $2.75 billion, a PE ratio of 17.90 and a beta of 1.09. The firm has a 50 day simple moving average of $15.18 and a two-hundred day simple moving average of $15.55.

Broadstone Net Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.14 dividend on an annualized basis and a yield of 7.77%. Broadstone Net Lease’s dividend payout ratio is presently 139.02%.

Insiders Place Their Bets

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

Broadstone Net Lease Profile

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.