Broadstone Net Lease, Inc. (NYSE:BNL) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC lowered its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 22.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 318,032 shares of the company's stock after selling 93,183 shares during the period. Fisher Asset Management LLC owned about 0.17% of Broadstone Net Lease worth $5,477,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Victory Capital Management Inc. increased its holdings in shares of Broadstone Net Lease by 12.2% during the fourth quarter. Victory Capital Management Inc. now owns 43,950 shares of the company's stock valued at $757,000 after acquiring an additional 4,771 shares in the last quarter. Van ECK Associates Corp grew its holdings in Broadstone Net Lease by 19.7% in the fourth quarter. Van ECK Associates Corp now owns 26,351 shares of the company's stock valued at $454,000 after purchasing an additional 4,333 shares during the period. Aew Capital Management L P raised its position in Broadstone Net Lease by 18.3% during the fourth quarter. Aew Capital Management L P now owns 2,425,180 shares of the company's stock worth $41,762,000 after acquiring an additional 374,290 shares during the period. Kovack Advisors Inc. lifted its stake in Broadstone Net Lease by 15.2% in the 4th quarter. Kovack Advisors Inc. now owns 22,547 shares of the company's stock valued at $388,000 after buying an additional 2,977 shares in the last quarter. Finally, Wolverine Asset Management LLC purchased a new position in shares of Broadstone Net Lease in the fourth quarter valued at approximately $730,000. 89.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Broadstone Net Lease news, CFO Kevin Fennell purchased 4,000 shares of Broadstone Net Lease stock in a transaction on Monday, February 26th. The shares were bought at an average price of $14.63 per share, with a total value of $58,520.00. Following the purchase, the chief financial officer now directly owns 63,556 shares in the company, valued at approximately $929,824.28. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Kevin Fennell bought 4,000 shares of Broadstone Net Lease stock in a transaction dated Monday, February 26th. The shares were acquired at an average cost of $14.63 per share, with a total value of $58,520.00. Following the completion of the transaction, the chief financial officer now owns 63,556 shares in the company, valued at approximately $929,824.28. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael A. Coke bought 10,000 shares of the company's stock in a transaction dated Monday, February 26th. The stock was bought at an average cost of $14.67 per share, with a total value of $146,700.00. Following the transaction, the director now directly owns 34,817 shares in the company, valued at approximately $510,765.39. The disclosure for this purchase can be found here. Insiders own 0.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BNL shares. TheStreet lowered shares of Broadstone Net Lease from a "b-" rating to a "c+" rating in a research note on Thursday, February 22nd. Wolfe Research reaffirmed a "peer perform" rating on shares of Broadstone Net Lease in a research report on Tuesday, April 9th. Truist Financial reduced their price target on Broadstone Net Lease from $18.00 to $17.00 and set a "hold" rating on the stock in a research report on Tuesday, February 27th. Finally, The Goldman Sachs Group started coverage on Broadstone Net Lease in a research note on Thursday, March 7th. They issued a "sell" rating and a $14.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Broadstone Net Lease presently has a consensus rating of "Hold" and an average target price of $16.75.

Broadstone Net Lease Trading Down 1.1 %

Shares of NYSE:BNL traded down $0.17 on Wednesday, reaching $15.01. 1,179,490 shares of the company were exchanged, compared to its average volume of 1,267,240. Broadstone Net Lease, Inc. has a 1-year low of $13.68 and a 1-year high of $17.59. The company has a 50-day moving average of $14.89 and a 200-day moving average of $15.59. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 15.64 and a beta of 1.10.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last issued its earnings results on Wednesday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. The company had revenue of $105.37 million during the quarter, compared to analysts' expectations of $107.76 million. Broadstone Net Lease had a net margin of 42.23% and a return on equity of 5.60%. During the same period last year, the company posted $0.34 earnings per share. As a group, analysts forecast that Broadstone Net Lease, Inc. will post 1.38 earnings per share for the current year.

Broadstone Net Lease Increases Dividend

The company also recently declared 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 is Friday, June 28th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.73%. 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 118.75%.

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.