Dynamic Technology Lab Private Ltd Invests $260,000 in Broadstone Net Lease, Inc. (NYSE:BNL)

Dynamic Technology Lab Private Ltd bought a new position in Broadstone Net Lease, Inc. (NYSE:BNLFree Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 15,102 shares of the company’s stock, valued at approximately $260,000.

Several other institutional investors have also recently made changes to their positions in the company. Principal Securities Inc. purchased a new position in shares of Broadstone Net Lease in the 4th quarter worth $32,000. Federated Hermes Inc. purchased a new position in shares of Broadstone Net Lease in the 4th quarter worth $49,000. Covestor Ltd boosted its stake in shares of Broadstone Net Lease by 123.1% in the 3rd quarter. Covestor Ltd now owns 5,167 shares of the company’s stock worth $74,000 after buying an additional 2,851 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new position in shares of Broadstone Net Lease in the 4th quarter worth $86,000. Finally, Evergreen Capital Management LLC purchased a new position in shares of Broadstone Net Lease in the 3rd quarter worth $147,000. Institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Stock Down 0.7 %

NYSE:BNL opened at $15.10 on Tuesday. The business’s 50-day simple moving average is $15.04 and its two-hundred day simple moving average is $15.71. The stock has a market cap of $2.85 billion, a PE ratio of 15.73 and a beta of 1.10. Broadstone Net Lease, Inc. has a 52 week low of $13.68 and a 52 week high of $17.59.

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

Broadstone Net Lease Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.29 dividend. This is a positive change from Broadstone Net Lease’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.68%. Broadstone Net Lease’s payout ratio is presently 118.75%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. TheStreet downgraded Broadstone Net Lease from a “b-” rating to a “c+” rating in a research report on Thursday, February 22nd. Truist Financial lowered their target price 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. Wolfe Research reiterated a “peer perform” rating on shares of Broadstone Net Lease in a research report on Tuesday, April 9th. Finally, The Goldman Sachs Group assumed coverage on 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. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $16.75.

View Our Latest Report on Broadstone Net Lease

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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