Broadstone Net Lease, Inc. (NYSE:BNL) Shares Sold by Swiss National Bank

Swiss National Bank cut its holdings in Broadstone Net Lease, Inc. (NYSE:BNLFree Report) by 10.3% during the 4th quarter, Holdings Channel reports. The firm owned 369,100 shares of the company’s stock after selling 42,500 shares during the period. Swiss National Bank’s holdings in Broadstone Net Lease were worth $6,356,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Principal Financial Group Inc. grew its position in shares of Broadstone Net Lease by 4.0% in the third quarter. Principal Financial Group Inc. now owns 14,455,891 shares of the company’s stock valued at $206,719,000 after purchasing an additional 551,241 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Broadstone Net Lease by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,624,863 shares of the company’s stock valued at $37,536,000 after purchasing an additional 103,079 shares during the last quarter. Aew Capital Management L P grew its position in shares of Broadstone Net Lease by 18.3% in the fourth quarter. Aew Capital Management L P now owns 2,425,180 shares of the company’s stock valued at $41,762,000 after purchasing an additional 374,290 shares during the last quarter. Northern Trust Corp grew its position in shares of Broadstone Net Lease by 3.9% in the third quarter. Northern Trust Corp now owns 2,156,654 shares of the company’s stock valued at $30,840,000 after purchasing an additional 81,612 shares during the last quarter. Finally, Tritonpoint Wealth LLC acquired a new stake in shares of Broadstone Net Lease in the fourth quarter valued at approximately $29,582,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BNL has been the topic of a number of analyst reports. TheStreet lowered shares of Broadstone Net Lease from a “b-” rating to a “c+” rating in a research report on Thursday, February 22nd. Truist Financial decreased their target price on shares of 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. The Goldman Sachs Group initiated coverage on shares of Broadstone Net Lease in a research report on Thursday, March 7th. They set a “sell” rating and a $14.00 target price on the stock. Finally, Wolfe Research restated 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 given a buy rating to the stock. Based on data from MarketBeat.com, Broadstone Net Lease has an average rating of “Hold” and an average price target of $16.75.

Check Out Our Latest Analysis on Broadstone Net Lease

Insiders Place Their Bets

In other Broadstone Net Lease news, CFO Kevin Fennell bought 4,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were 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 owns 63,556 shares in the company, valued at approximately $929,824.28. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other Broadstone Net Lease news, Director Michael A. Coke bought 10,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were acquired at an average price 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 approximately $510,765.39. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Kevin Fennell bought 4,000 shares of the business’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 purchase, the chief financial officer now owns 63,556 shares in the company, valued at approximately $929,824.28. The disclosure for this purchase can be found here. 0.81% of the stock is currently owned by insiders.

Broadstone Net Lease Stock Up 1.2 %

NYSE:BNL opened at $15.68 on Thursday. The company has a market cap of $2.95 billion, a P/E ratio of 16.33 and a beta of 1.10. Broadstone Net Lease, Inc. has a fifty-two week low of $13.68 and a fifty-two week high of $17.59. The firm’s 50 day moving average is $14.94 and its two-hundred day moving average is $15.64.

Broadstone Net Lease (NYSE:BNLGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $105.37 million for the quarter, compared to the consensus estimate of $107.76 million. Broadstone Net Lease had a net margin of 42.23% and a return on equity of 5.60%. During the same quarter last year, the firm posted $0.34 earnings per share. Research analysts forecast that Broadstone Net Lease, Inc. will post 1.38 earnings per share for the current fiscal year.

Broadstone Net Lease Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.16 dividend on an annualized basis and a yield of 7.40%. This is an increase from Broadstone Net Lease’s previous quarterly dividend of $0.29. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 118.75%.

Broadstone Net Lease Company Profile

(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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