Miller Global Investments LLC Makes New Investment in Broadstone Net Lease, Inc. $BNL

Key Points

• Miller Global Investments acquired a new stake of 54,860 shares in Broadstone Net Lease (BNL) in Q4, worth about $953,000, and institutional investors now own roughly 89.07% of the company.
• Equity analysts have a consensus rating of “Moderate Buy” with a consensus price target of $20.20 (nine Buy ratings and two Hold ratings).
• Broadstone raised its quarterly dividend to $0.2925 (annualized $1.17) for a 6.0% yield232% and the company recently missed quarterly EPS estimates ($0.17 vs. $0.37 consensus).

Miller Global Investments LLC bought a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 54,860 shares of the company's stock, valued at approximately $953,000.

A number of other hedge funds have also modified their holdings of the business. Strategic Advocates LLC acquired a new position in Broadstone Net Lease during the third quarter worth about $30,000. Blue Trust Inc. raised its holdings in Broadstone Net Lease by 96.9% in the 3rd quarter. Blue Trust Inc. now owns 1,790 shares of the company's stock valued at $32,000 after acquiring an additional 881 shares during the last quarter. Advisory Services Network LLC purchased a new position in Broadstone Net Lease in the 3rd quarter worth approximately $61,000. EverSource Wealth Advisors LLC lifted its stake in Broadstone Net Lease by 80.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,261 shares of the company's stock worth $68,000 after purchasing an additional 1,906 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Broadstone Net Lease by 15.2% during the 3rd quarter. Covestor Ltd now owns 5,928 shares of the company's stock worth $106,000 after purchasing an additional 781 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BNL shares. Morgan Stanley upped their price target on Broadstone Net Lease from $18.00 to $19.00 and gave the company a "positive" rating in a research report on Monday, December 29th. UBS Group boosted their price objective on Broadstone Net Lease from $19.00 to $20.00 and gave the stock a "neutral" rating in a research note on Monday, March 9th. BTIG Research dropped their target price on Broadstone Net Lease from $22.00 to $21.00 and set a "buy" rating for the company in a report on Friday, December 5th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Broadstone Net Lease in a research note on Thursday, December 4th. Finally, Truist Financial lifted their price target on Broadstone Net Lease from $18.00 to $20.00 and gave the stock a "hold" rating in a report on Tuesday, November 25th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Broadstone Net Lease has an average rating of "Moderate Buy" and a consensus price target of $20.20.

Broadstone Net Lease Stock Performance

BNL stock opened at $19.35 on Friday. The firm has a market cap of $3.70 billion, a PE ratio of 38.70 and a beta of 0.99. The firm's 50 day moving average price is $18.97 and its 200-day moving average price is $18.38. Broadstone Net Lease, Inc. has a one year low of $13.96 and a one year high of $19.91.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.20). Broadstone Net Lease had a return on equity of 3.17% and a net margin of 21.25%.Broadstone Net Lease has set its FY 2026 guidance at 1.530-1.57 EPS. Equities research analysts predict that Broadstone Net Lease, Inc. will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.2925 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.17 dividend on an annualized basis and a dividend yield of 6.0%. This is a boost from Broadstone Net Lease's previous quarterly dividend of $0.29. Broadstone Net Lease's dividend payout ratio (DPR) is currently 232.00%.

About Broadstone Net Lease

Broadstone Net Lease, Inc NYSE: BNL is a publicly traded real estate investment trust focused on owning and operating single-tenant commercial properties under long-term net leases. The company specializes in acquiring properties that are leased to creditworthy tenants, allowing it to generate predictable, stable rental income while transferring most operating expenses and responsibilities to its lessees.

Broadstone Net Lease’s portfolio spans a variety of property types, including industrial facilities, distribution centers, manufacturing plants, life science and office buildings, and essential retail locations.

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