Prime Capital Investment Advisors LLC Takes $10.07 Million Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Prime Capital Investment Advisors LLC purchased a new stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 585,032 shares of the company's stock, valued at approximately $10,074,000. Prime Capital Investment Advisors LLC owned approximately 0.31% of Broadstone Net Lease as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in BNL. State of Wyoming acquired a new stake in Broadstone Net Lease in the 2nd quarter worth approximately $26,000. Lazard Asset Management LLC acquired a new position in shares of Broadstone Net Lease during the second quarter worth approximately $30,000. Castleview Partners LLC acquired a new position in shares of Broadstone Net Lease during the third quarter worth approximately $36,000. FMR LLC lifted its holdings in shares of Broadstone Net Lease by 67.8% during the second quarter. FMR LLC now owns 1,903 shares of the company's stock worth $39,000 after buying an additional 769 shares during the last quarter. Finally, Comerica Bank lifted its holdings in shares of Broadstone Net Lease by 1,195.0% during the third quarter. Comerica Bank now owns 4,649 shares of the company's stock worth $66,000 after buying an additional 4,290 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Insider Activity at Broadstone Net Lease

In other news, CFO Kevin Fennell bought 4,000 shares of the business's stock in a transaction that occurred on Monday, February 26th. The stock was acquired at an average cost of $14.63 per share, for a total transaction of $58,520.00. Following the completion of the purchase, the chief financial officer now owns 63,556 shares of the company's stock, valued at approximately $929,824.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Michael A. Coke purchased 10,000 shares of the stock in a transaction on Monday, February 26th. The shares were purchased at an average cost of $14.67 per share, for a total transaction of $146,700.00. Following the completion of the transaction, the director now directly owns 34,817 shares of the company's stock, valued at approximately $510,765.39. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin Fennell purchased 4,000 shares of the stock in a transaction on Monday, February 26th. The stock was bought at an average price of $14.63 per share, for a total transaction of $58,520.00. Following the completion of the transaction, the chief financial officer now directly owns 63,556 shares of the company's stock, valued at $929,824.28. The disclosure for this purchase can be found here. 0.62% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. TheStreet lowered Broadstone Net Lease from a "b-" rating to a "c+" rating in a report on Thursday, February 22nd. Truist Financial cut their price target on Broadstone Net Lease from $18.00 to $17.00 and set a "hold" rating for the company in a report on Tuesday, February 27th. JPMorgan Chase & Co. upgraded Broadstone Net Lease from a "neutral" rating to an "overweight" rating and set a $19.00 price target for the company in a report on Monday, December 18th. Finally, The Goldman Sachs Group assumed coverage on Broadstone Net Lease in a report on Thursday, March 7th. They set a "sell" rating and a $14.00 price target for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $16.75.

Broadstone Net Lease Price Performance

Shares of NYSE BNL traded up $0.18 during trading hours on Friday, reaching $15.06. The stock had a trading volume of 768,222 shares, compared to its average volume of 1,674,669. The business's fifty day moving average is $15.31 and its two-hundred day moving average is $15.56. The company has a market cap of $2.83 billion, a price-to-earnings ratio of 18.37 and a beta of 1.09. Broadstone Net Lease, Inc. has a twelve month low of $13.68 and a twelve month high of $17.59.

Broadstone Net Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 7.57%. Broadstone Net Lease's payout ratio is 139.03%.

About Broadstone Net Lease

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.