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

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

Several other large investors have also recently bought and sold shares of BNL. Cohen & Steers Inc. grew its position in Broadstone Net Lease by 22.4% during the fourth quarter. Cohen & Steers Inc. now owns 3,752,300 shares of the company's stock worth $64,615,000 after buying an additional 686,765 shares during the period. HGI Capital Management LLC increased its stake in Broadstone Net Lease by 2.5% in the 4th quarter. HGI Capital Management LLC now owns 43,238 shares of the company's stock valued at $745,000 after purchasing an additional 1,055 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its holdings in Broadstone Net Lease by 268.0% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 78,768 shares of the company's stock worth $1,356,000 after purchasing an additional 57,362 shares during the last quarter. Shepherd Financial Partners LLC purchased a new stake in Broadstone Net Lease during the fourth quarter worth $233,000. Finally, Cbre Investment Management Listed Real Assets LLC boosted its position in Broadstone Net Lease by 74.3% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,860,534 shares of the company's stock worth $49,258,000 after purchasing an additional 1,219,509 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.


Analyst Ratings Changes

Several research analysts have recently issued reports on the company. TheStreet downgraded Broadstone Net Lease from a "b-" rating to a "c+" rating in a research note on Thursday, February 22nd. The Goldman Sachs Group initiated coverage on shares of Broadstone Net Lease in a report on Thursday, March 7th. They issued a "sell" rating and a $14.00 price target on the stock. Wolfe Research reissued a "peer perform" rating on shares of Broadstone Net Lease in a research note on Tuesday, April 9th. KeyCorp assumed coverage on Broadstone Net Lease in a research note on Wednesday, June 12th. They issued a "sector weight" rating on the stock. Finally, Truist Financial lowered their target price on Broadstone Net Lease from $18.00 to $17.00 and set a "hold" rating on the stock in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $16.75.

Check Out Our Latest Stock Report on BNL

Broadstone Net Lease Stock Up 0.9 %

Shares of NYSE:BNL traded up $0.14 during trading on Friday, reaching $15.73. The stock had a trading volume of 2,278,640 shares, compared to its average volume of 1,201,481. The stock has a market cap of $2.96 billion, a P/E ratio of 16.39 and a beta of 1.10. The business has a fifty day moving average price of $15.08 and a 200-day moving average price of $15.67. Broadstone Net Lease, Inc. has a fifty-two week low of $13.68 and a fifty-two week high of $17.59.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. Broadstone Net Lease had a return on equity of 5.60% and a net margin of 42.23%. The company had revenue of $105.37 million during the quarter, compared to the consensus estimate of $107.76 million. During the same period in the previous year, the firm posted $0.34 EPS. As a group, equities analysts forecast that Broadstone Net Lease, Inc. will post 1.39 EPS for the current year.

Broadstone Net Lease Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 7.37%. This is a positive change from Broadstone Net Lease's previous quarterly dividend of $0.29. The ex-dividend date is Friday, June 28th. Broadstone Net Lease's dividend payout ratio (DPR) is presently 118.75%.

Broadstone Net Lease Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Broadstone Net Lease (NYSE:BNL)

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