Daiwa Securities Group Inc. Sells 2,854 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Daiwa Securities Group Inc. decreased its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 4.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 56,963 shares of the company’s stock after selling 2,854 shares during the period. Daiwa Securities Group Inc.’s holdings in Broadstone Net Lease were worth $981,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. SG Americas Securities LLC increased its position in Broadstone Net Lease by 104.4% during the third quarter. SG Americas Securities LLC now owns 57,315 shares of the company’s stock worth $820,000 after acquiring an additional 29,280 shares during the period. State of Alaska Department of Revenue increased its position in shares of Broadstone Net Lease by 1.4% in the third quarter. State of Alaska Department of Revenue now owns 89,237 shares of the company’s stock worth $1,276,000 after purchasing an additional 1,202 shares during the period. Valeo Financial Advisors LLC acquired a new position in Broadstone Net Lease in the third quarter valued at about $508,000. Armor Investment Advisors LLC bought a new stake in Broadstone Net Lease during the third quarter worth about $963,000. Finally, New York State Teachers Retirement System lifted its position in Broadstone Net Lease by 8.4% during the third quarter. New York State Teachers Retirement System now owns 16,701 shares of the company’s stock worth $239,000 after purchasing an additional 1,294 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insiders Place Their Bets

In other Broadstone Net Lease news, CFO Kevin Fennell bought 4,000 shares of the stock in a transaction on Monday, February 26th. The stock was purchased at an average price of $14.63 per share, with a total value of $58,520.00. Following the completion of the purchase, the chief financial officer now owns 63,556 shares in the company, valued at $929,824.28. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Kevin Fennell acquired 4,000 shares of the stock in a transaction dated Monday, February 26th. The stock was bought at an average price of $14.63 per share, with a total value of $58,520.00. Following the completion of the purchase, the chief financial officer now directly owns 63,556 shares of the company’s stock, valued at approximately $929,824.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael A. Coke acquired 10,000 shares of the stock in a transaction dated Monday, February 26th. The stock was purchased 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 disclosure for this purchase can be found here. Insiders own 0.81% of the company’s stock.

Broadstone Net Lease Trading Down 0.8 %

Shares of NYSE BNL opened at $14.44 on Thursday. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 17.60 and a beta of 1.09. Broadstone Net Lease, Inc. has a 12 month low of $13.68 and a 12 month high of $17.59. The stock has a 50-day moving average price of $14.98 and a two-hundred day moving average price of $15.58.

Broadstone Net Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 7.90%. The ex-dividend date was Wednesday, March 27th. Broadstone Net Lease’s payout ratio is 139.03%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Truist Financial cut 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 report on Tuesday, February 27th. The Goldman Sachs Group assumed coverage on shares of Broadstone Net Lease in a research report on Thursday, March 7th. They set a “sell” rating and a $14.00 price objective for the company. TheStreet cut shares of Broadstone Net Lease from a “b-” rating to a “c+” rating in a research report on Thursday, February 22nd. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Broadstone Net Lease in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $16.75.

Broadstone Net Lease Company 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.