BI Asset Management Fondsmaeglerselskab A S Buys 156,727 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

BI Asset Management Fondsmaeglerselskab A S lifted its stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 688.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 179,476 shares of the company's stock after acquiring an additional 156,727 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned 0.10% of Broadstone Net Lease worth $3,091,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BNL. New York State Teachers Retirement System lifted its holdings in Broadstone Net Lease by 8.4% during the 3rd quarter. New York State Teachers Retirement System now owns 16,701 shares of the company's stock worth $239,000 after buying an additional 1,294 shares in the last quarter. Advisor Partners II LLC acquired a new stake in Broadstone Net Lease during the 3rd quarter worth approximately $152,000. Teacher Retirement System of Texas lifted its holdings in Broadstone Net Lease by 21.9% during the 3rd quarter. Teacher Retirement System of Texas now owns 137,370 shares of the company's stock worth $1,964,000 after buying an additional 24,685 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Broadstone Net Lease by 4.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 59,817 shares of the company's stock worth $855,000 after buying an additional 2,291 shares in the last quarter. Finally, M&T Bank Corp lifted its holdings in Broadstone Net Lease by 9.9% during the 3rd quarter. M&T Bank Corp now owns 16,742 shares of the company's stock worth $239,000 after buying an additional 1,514 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Broadstone Net Lease news, CFO Kevin Fennell acquired 4,000 shares of the stock in a transaction on Monday, February 26th. The shares were bought at an average cost of $14.63 per share, with a total value of $58,520.00. Following the transaction, the chief financial officer now owns 63,556 shares of the company's stock, valued at approximately $929,824.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Broadstone Net Lease news, CFO Kevin Fennell acquired 4,000 shares of the stock in a transaction on Monday, February 26th. The shares were bought at an average cost of $14.63 per share, with a total value of $58,520.00. Following the transaction, the chief financial officer now owns 63,556 shares of the company's stock, valued at approximately $929,824.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael A. Coke acquired 10,000 shares of the stock in a transaction on Monday, February 26th. The shares were acquired 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 in the company, valued at approximately $510,765.39. The disclosure for this purchase can be found here. 0.62% of the stock is currently owned by insiders.

Analyst Ratings Changes

BNL has been the topic of a number of research reports. Truist Financial reduced their target price on shares of Broadstone Net Lease from $18.00 to $17.00 and set a "hold" rating on the stock in a report on Tuesday, February 27th. The Goldman Sachs Group initiated coverage on shares of Broadstone Net Lease in a research report on Thursday, March 7th. They issued a "sell" rating and a $14.00 price objective on the stock. TheStreet downgraded shares of Broadstone Net Lease from a "b-" rating to a "c+" rating in a research report on Thursday, February 22nd. Finally, Wolfe Research reissued a "peer perform" rating on shares of Broadstone Net Lease in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $16.75.

Broadstone Net Lease Trading Down 0.2 %

Shares of NYSE BNL traded down $0.03 during mid-day trading on Monday, reaching $15.66. The company had a trading volume of 674,990 shares, compared to its average volume of 1,241,495. The firm has a 50 day simple moving average of $14.99 and a two-hundred day simple moving average of $15.69. The stock has a market cap of $2.95 billion, a P/E ratio of 16.31 and a beta of 1.10. Broadstone Net Lease, Inc. has a 52-week low of $13.68 and a 52-week high of $17.59.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last posted its earnings results on Wednesday, May 1st. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. The firm had revenue of $105.37 million for the quarter, compared to the consensus estimate 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 firm posted $0.34 EPS. On average, equities analysts expect that Broadstone Net Lease, Inc. will post 1.38 EPS for the current year.

Broadstone Net Lease Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.29 per share. This is an increase from Broadstone Net Lease's previous quarterly dividend of $0.29. This represents a $1.16 annualized dividend and a yield of 7.41%. The ex-dividend date of this dividend is Friday, June 28th. Broadstone Net Lease's dividend payout ratio (DPR) 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.