Sei Investments Co. Sells 84,839 Shares of Broadstone Net Lease, Inc. $BNL

Sei Investments Co. lessened its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 10.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 748,210 shares of the company's stock after selling 84,839 shares during the period. Sei Investments Co. owned approximately 0.39% of Broadstone Net Lease worth $13,670,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. State of Wyoming lifted its position in shares of Broadstone Net Lease by 95.1% during the first quarter. State of Wyoming now owns 15,039 shares of the company's stock worth $275,000 after purchasing an additional 7,329 shares during the last quarter. Cetera Investment Advisers grew its stake in Broadstone Net Lease by 19.9% in the first quarter. Cetera Investment Advisers now owns 795,584 shares of the company's stock worth $14,535,000 after purchasing an additional 131,951 shares in the last quarter. NewEdge Wealth LLC increased its holdings in Broadstone Net Lease by 57.8% during the 1st quarter. NewEdge Wealth LLC now owns 22,461 shares of the company's stock worth $410,000 after purchasing an additional 8,228 shares during the period. First Trust Advisors LP raised its position in Broadstone Net Lease by 155.1% during the 1st quarter. First Trust Advisors LP now owns 204,286 shares of the company's stock valued at $3,732,000 after purchasing an additional 124,218 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in shares of Broadstone Net Lease in the 1st quarter worth $145,000. Institutional investors own 89.07% of the company's stock.

Broadstone Net Lease Stock Down 3.0%

NYSE:BNL opened at $21.48 on Friday. Broadstone Net Lease, Inc. has a 52 week low of $16.05 and a 52 week high of $23.10. The firm has a 50 day moving average of $21.24 and a 200 day moving average of $19.96. The stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of 28.26 and a beta of 0.94.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.02. The company had revenue of $122.31 million during the quarter, compared to the consensus estimate of $121.63 million. Broadstone Net Lease had a net margin of 30.61% and a return on equity of 4.82%. Broadstone Net Lease has set its FY 2026 guidance at 1.550-1.570 EPS. As a group, analysts expect that Broadstone Net Lease, Inc. will post 1.52 EPS for the current year.

Broadstone Net Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $0.2925 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.17 dividend on an annualized basis and a yield of 5.4%. Broadstone Net Lease's dividend payout ratio (DPR) is 153.95%.

Analysts Set New Price Targets

A number of research firms recently weighed in on BNL. Cantor Fitzgerald upped their price objective on shares of Broadstone Net Lease from $21.00 to $22.00 and gave the stock an "overweight" rating in a research note on Monday, May 4th. BTIG Research raised their target price on shares of Broadstone Net Lease from $21.00 to $23.00 and gave the company a "buy" rating in a research report on Friday, June 26th. BMO Capital Markets boosted their price target on shares of Broadstone Net Lease from $24.00 to $26.00 and gave the company an "outperform" rating in a report on Friday, July 10th. KeyCorp upped their price target on shares of Broadstone Net Lease from $20.00 to $24.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Finally, Truist Financial set a $22.00 price objective on shares of Broadstone Net Lease in a research note on Monday, June 8th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Broadstone Net Lease currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.00.

Broadstone Net Lease Profile

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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