abrdn plc Has $768,000 Stock Position in Broadstone Net Lease, Inc. (NYSE:BNL)

abrdn plc raised its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNLGet Rating) by 5.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,920 shares of the company’s stock after purchasing an additional 1,671 shares during the quarter. abrdn plc’s holdings in Broadstone Net Lease were worth $768,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in BNL. New York State Teachers Retirement System acquired a new stake in Broadstone Net Lease during the fourth quarter valued at approximately $330,000. Van ECK Associates Corp boosted its holdings in Broadstone Net Lease by 69.8% during the fourth quarter. Van ECK Associates Corp now owns 12,250 shares of the company’s stock valued at $304,000 after purchasing an additional 5,036 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Broadstone Net Lease during the fourth quarter valued at approximately $4,762,000. Qube Research & Technologies Ltd acquired a new stake in Broadstone Net Lease during the fourth quarter valued at approximately $546,000. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in Broadstone Net Lease by 5.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 133,500 shares of the company’s stock valued at $3,313,000 after purchasing an additional 6,400 shares in the last quarter. 78.66% of the stock is owned by institutional investors and hedge funds.

Broadstone Net Lease Price Performance

BNL stock opened at $22.12 on Wednesday. The company has a 50 day moving average price of $21.18 and a 200 day moving average price of $21.46. Broadstone Net Lease, Inc. has a fifty-two week low of $18.96 and a fifty-two week high of $28.00. The stock has a market capitalization of $3.75 billion, a PE ratio of 33.02 and a beta of 0.95.

Broadstone Net Lease (NYSE:BNLGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate 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 period in the previous year, the firm posted $0.31 earnings per share. As a group, equities analysts expect that Broadstone Net Lease, Inc. will post 1.46 earnings per share for the current fiscal year.

Broadstone Net Lease Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.88%. The ex-dividend date of this dividend was Wednesday, June 29th. This is a boost from Broadstone Net Lease’s previous quarterly dividend of $0.27. Broadstone Net Lease’s payout ratio is 161.20%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Morgan Stanley reduced their target price on Broadstone Net Lease from $25.00 to $21.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 12th. Truist Financial reduced their target price on Broadstone Net Lease from $25.00 to $22.00 and set a “hold” rating on the stock in a report on Tuesday, June 21st. Finally, The Goldman Sachs Group reduced their target price on Broadstone Net Lease from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Wednesday, June 15th.

About Broadstone Net Lease

(Get Rating)

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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