Broadstone Net Lease, Inc. (NYSE:BNL) Stock Holdings Decreased by SG Americas Securities LLC

SG Americas Securities LLC lowered its stake in Broadstone Net Lease, Inc. (NYSE:BNLGet Rating) by 47.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 34,350 shares of the company’s stock after selling 31,220 shares during the period. SG Americas Securities LLC’s holdings in Broadstone Net Lease were worth $748,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BNL. State Street Corp increased its position in shares of Broadstone Net Lease by 11.2% in the 4th quarter. State Street Corp now owns 6,362,924 shares of the company’s stock worth $159,592,000 after purchasing an additional 638,386 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Broadstone Net Lease by 17.8% in the 4th quarter. Geode Capital Management LLC now owns 3,118,959 shares of the company’s stock valued at $77,412,000 after buying an additional 470,227 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Broadstone Net Lease by 3.8% in the 4th quarter. Principal Financial Group Inc. now owns 11,795,991 shares of the company’s stock valued at $292,774,000 after buying an additional 432,244 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Broadstone Net Lease in the 4th quarter valued at about $4,762,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Broadstone Net Lease in the 4th quarter valued at about $2,472,000. Institutional investors own 78.66% of the company’s stock.

Broadstone Net Lease Stock Down 1.3 %

Broadstone Net Lease stock opened at $22.37 on Tuesday. The firm has a 50-day moving average price of $21.15 and a two-hundred day moving average price of $21.46. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of 33.39 and a beta of 0.95. Broadstone Net Lease, Inc. has a 52-week low of $18.96 and a 52-week high of $28.00.

Broadstone Net Lease (NYSE:BNLGet Rating) last posted its earnings results on Tuesday, May 3rd. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. Broadstone Net Lease had a net margin of 27.15% and a return on equity of 3.86%. During the same quarter last year, the business posted $0.31 earnings per share. Research analysts expect that Broadstone Net Lease, Inc. will post 1.46 earnings per share for the current year.

Broadstone Net Lease Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.83%. This is a positive change from Broadstone Net Lease’s previous quarterly dividend of $0.27. The ex-dividend date was Wednesday, June 29th. Broadstone Net Lease’s payout ratio is presently 161.20%.

Wall Street Analyst Weigh In

BNL has been the subject of several research reports. Morgan Stanley decreased their price target on shares of Broadstone Net Lease from $25.00 to $21.00 and set an “equal weight” rating for the company in a report on Tuesday, July 12th. Truist Financial decreased their price target on shares of Broadstone Net Lease from $25.00 to $22.00 and set a “hold” rating for the company in a report on Tuesday, June 21st. Finally, The Goldman Sachs Group decreased their price target on shares of Broadstone Net Lease from $25.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, June 15th.

About Broadstone Net Lease

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BNL is an internally-managed 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. The Company utilizes an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting.

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

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