Signaturefd LLC Sells 1,284 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Signaturefd LLC lessened its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 26.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,536 shares of the company’s stock after selling 1,284 shares during the quarter. Signaturefd LLC’s holdings in Broadstone Net Lease were worth $56,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Principal Securities Inc. purchased a new stake in shares of Broadstone Net Lease in the 4th quarter worth approximately $32,000. Arden Trust Co purchased a new position in Broadstone Net Lease in the second quarter worth about $180,000. Quotient Wealth Partners LLC bought a new position in shares of Broadstone Net Lease in the fourth quarter worth approximately $186,000. Pasadena Private Wealth LLC grew its holdings in shares of Broadstone Net Lease by 12.2% during the first quarter. Pasadena Private Wealth LLC now owns 13,330 shares of the company’s stock valued at $209,000 after buying an additional 1,449 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of Broadstone Net Lease by 53.4% during the first quarter. Covestor Ltd now owns 13,406 shares of the company’s stock valued at $210,000 after acquiring an additional 4,669 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

BNL has been the topic of several analyst reports. Truist Financial upped their price objective on Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Friday, August 16th. KeyCorp started coverage on Broadstone Net Lease in a research report on Wednesday, June 12th. They set a “sector weight” rating on the stock. Finally, Wedbush assumed coverage on Broadstone Net Lease in a research report on Monday, August 19th. They issued an “outperform” rating and a $20.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Broadstone Net Lease presently has a consensus rating of “Hold” and an average price target of $17.60.

Broadstone Net Lease Price Performance

Shares of BNL opened at $18.44 on Thursday. The firm has a market capitalization of $3.48 billion, a P/E ratio of 19.20 and a beta of 1.11. Broadstone Net Lease, Inc. has a one year low of $13.68 and a one year high of $18.72. The business has a fifty day moving average of $17.26 and a 200 day moving average of $15.85.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The firm had revenue of $105.91 million for the quarter, compared to the consensus estimate of $105.95 million. Broadstone Net Lease had a net margin of 36.78% and a return on equity of 4.86%. During the same quarter in the prior year, the firm earned $0.35 earnings per share. Analysts expect that Broadstone Net Lease, Inc. will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 6.29%. The ex-dividend date of this dividend is Monday, September 30th. Broadstone Net Lease’s dividend payout ratio is presently 120.83%.

Broadstone Net Lease 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.