Daiwa Securities Group Inc. Buys 3,890 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Daiwa Securities Group Inc. grew its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNLFree Report) by 6.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 60,853 shares of the company’s stock after buying an additional 3,890 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Broadstone Net Lease were worth $954,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its position in Broadstone Net Lease by 5.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 640,812 shares of the company’s stock worth $10,734,000 after acquiring an additional 32,245 shares during the last quarter. Commonwealth Equity Services LLC raised its position in Broadstone Net Lease by 4.1% in the first quarter. Commonwealth Equity Services LLC now owns 100,533 shares of the company’s stock valued at $1,575,000 after purchasing an additional 3,991 shares during the last quarter. Prairiewood Capital LLC boosted its stake in shares of Broadstone Net Lease by 4.8% during the first quarter. Prairiewood Capital LLC now owns 343,365 shares of the company’s stock valued at $5,381,000 after purchasing an additional 15,795 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Broadstone Net Lease by 431.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,176,195 shares of the company’s stock worth $18,431,000 after purchasing an additional 955,066 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Broadstone Net Lease by 75.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 46,036 shares of the company’s stock valued at $721,000 after buying an additional 19,755 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BNL has been the topic of several recent research reports. KeyCorp began coverage on shares of Broadstone Net Lease in a research report on Wednesday, June 12th. They set a “sector weight” rating on the stock. Wolfe Research reiterated a “peer perform” rating on shares of Broadstone Net Lease in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $16.75.

Read Our Latest Stock Report on Broadstone Net Lease

Broadstone Net Lease Price Performance

Shares of BNL stock opened at $16.00 on Thursday. The stock has a market capitalization of $3.01 billion, a PE ratio of 16.67 and a beta of 1.11. The business’s 50 day simple moving average is $15.46 and its 200 day simple moving average is $15.56. Broadstone Net Lease, Inc. has a one year low of $13.68 and a one year high of $17.59.

Broadstone Net Lease (NYSE:BNLGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Broadstone Net Lease had a net margin of 42.23% and a return on equity of 5.60%. The company had revenue of $105.37 million for the quarter, compared to analyst estimates of $107.76 million. During the same period in the prior year, the firm posted $0.34 EPS. As a group, research analysts expect that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current year.

Broadstone Net Lease Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, June 28th. This is a positive change from Broadstone Net Lease’s previous quarterly dividend of $0.29. This represents a $1.16 annualized dividend and a dividend yield of 7.25%. Broadstone Net Lease’s dividend payout ratio (DPR) is 120.83%.

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.

Further Reading

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

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