Arizona State Retirement System Has $949,000 Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Arizona State Retirement System lifted its position in shares of Broadstone Net Lease, Inc. (NYSE:BNLGet Rating) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,593 shares of the company’s stock after buying an additional 844 shares during the period. Arizona State Retirement System’s holdings in Broadstone Net Lease were worth $949,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Broadstone Net Lease during the first quarter valued at approximately $35,000. Bridgefront Capital LLC acquired a new position in Broadstone Net Lease during the fourth quarter valued at approximately $203,000. Cambria Investment Management L.P. boosted its position in Broadstone Net Lease by 14.3% during the fourth quarter. Cambria Investment Management L.P. now owns 9,600 shares of the company’s stock valued at $238,000 after purchasing an additional 1,200 shares during the last quarter. M&T Bank Corp boosted its position in Broadstone Net Lease by 18.1% during the fourth quarter. M&T Bank Corp now owns 10,112 shares of the company’s stock valued at $251,000 after purchasing an additional 1,548 shares during the last quarter. Finally, New York State Teachers Retirement System lifted its position in shares of Broadstone Net Lease by 3.8% in the first quarter. New York State Teachers Retirement System now owns 13,800 shares of the company’s stock valued at $301,000 after buying an additional 500 shares during the last quarter. 78.66% of the stock is owned by institutional investors and hedge funds.

Broadstone Net Lease Trading Down 1.1 %

Shares of NYSE BNL opened at $22.12 on Wednesday. The firm has a market cap of $3.75 billion, a P/E ratio of 33.02 and a beta of 0.95. Broadstone Net Lease, Inc. has a 1-year low of $18.96 and a 1-year high of $28.00. The business’s 50 day moving average is $21.18 and its 200-day moving average is $21.46.

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

Broadstone Net Lease Increases Dividend

The business also recently disclosed 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 4.88%. The ex-dividend date of this dividend was Wednesday, June 29th. This is a positive change from Broadstone Net Lease’s previous quarterly dividend of $0.27. Broadstone Net Lease’s dividend payout ratio (DPR) is 161.20%.

Analyst Ratings Changes

A number of research firms have recently issued reports on BNL. Morgan Stanley cut their price objective on Broadstone Net Lease from $25.00 to $21.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 12th. Truist Financial cut their price objective on Broadstone Net Lease from $25.00 to $22.00 and set a “hold” rating for the company in a research report on Tuesday, June 21st. Finally, The Goldman Sachs Group cut their price objective on Broadstone Net Lease from $25.00 to $22.00 and set a “neutral” rating for the company in a research 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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