Broadstone Net Lease, Inc. (NYSE:BNL) Shares Acquired by Allianz Asset Management GmbH

Allianz Asset Management GmbH increased its stake in Broadstone Net Lease, Inc. (NYSE:BNLFree Report) by 109.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 88,992 shares of the company’s stock after purchasing an additional 46,536 shares during the quarter. Allianz Asset Management GmbH’s holdings in Broadstone Net Lease were worth $1,532,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Tritonpoint Wealth LLC acquired a new stake in Broadstone Net Lease in the 4th quarter valued at about $29,582,000. GSI Capital Advisors LLC lifted its holdings in Broadstone Net Lease by 39.6% in the 4th quarter. GSI Capital Advisors LLC now owns 241,085 shares of the company’s stock valued at $4,151,000 after acquiring an additional 68,370 shares during the last quarter. Prime Capital Investment Advisors LLC acquired a new stake in Broadstone Net Lease in the 4th quarter valued at about $10,074,000. Evermay Wealth Management LLC lifted its holdings in Broadstone Net Lease by 27.9% in the 4th quarter. Evermay Wealth Management LLC now owns 42,999 shares of the company’s stock valued at $744,000 after acquiring an additional 9,385 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Broadstone Net Lease by 688.9% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 179,476 shares of the company’s stock valued at $3,091,000 after acquiring an additional 156,727 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BNL has been the subject of a number of research analyst reports. The Goldman Sachs Group initiated coverage on shares of Broadstone Net Lease in a report on Thursday, March 7th. They issued a “sell” rating and a $14.00 price target for the company. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadstone Net Lease in a research note on Tuesday, April 9th. 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. Finally, TheStreet lowered shares of Broadstone Net Lease from a “b-” rating to a “c+” rating in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $16.75.

Check Out Our Latest Analysis on BNL

Broadstone Net Lease Price Performance

Shares of BNL opened at $15.16 on Monday. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of 15.79 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 business’s 50-day moving average is $15.02 and its 200-day moving average is $15.71.

Broadstone Net Lease (NYSE:BNLGet Free Report) last issued its earnings results on Wednesday, May 1st. The company reported $0.35 earnings per share for the quarter, beating 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 return on equity of 5.60% and a net margin of 42.23%. During the same quarter in the prior year, the company earned $0.34 EPS. Equities research analysts expect that Broadstone Net Lease, Inc. will post 1.38 earnings per share for the current fiscal year.

Broadstone Net Lease Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.29 dividend. This is an increase from Broadstone Net Lease’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, June 28th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.65%. Broadstone Net Lease’s dividend payout ratio 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.

Read More

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

Receive News & Ratings for Broadstone Net Lease Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadstone Net Lease and related companies with MarketBeat.com's FREE daily email newsletter.