Short Interest in Broadstone Net Lease, Inc. (NYSE:BNL) Drops By 18.3%

Broadstone Net Lease, Inc. (NYSE:BNL) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totalling 2,630,000 shares, a drop of 18.3% from the August 15th total of 3,220,000 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,100,000 shares, the short-interest ratio is currently 2.4 days.

Broadstone Net Lease Stock Down 1.2 %

Broadstone Net Lease stock opened at $15.87 on Tuesday. The company has a fifty day simple moving average of $16.26 and a 200-day simple moving average of $16.22. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 17.83 and a beta of 1.07. Broadstone Net Lease has a 52-week low of $14.98 and a 52-week high of $19.07.

Broadstone Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 7.06%. The ex-dividend date is Thursday, September 28th. Broadstone Net Lease’s dividend payout ratio (DPR) is 125.84%.

Institutional Investors Weigh In On Broadstone Net Lease

A number of large investors have recently made changes to their positions in the stock. Cbre Investment Management Listed Real Assets LLC grew its holdings in shares of Broadstone Net Lease by 19,606.7% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,269,813 shares of the company’s stock valued at $36,794,000 after purchasing an additional 2,258,295 shares during the period. Norges Bank acquired a new stake in shares of Broadstone Net Lease during the 4th quarter worth approximately $28,358,000. BlackRock Inc. raised its position in shares of Broadstone Net Lease by 8.7% during the 2nd quarter. BlackRock Inc. now owns 17,809,717 shares of the company’s stock valued at $274,982,000 after buying an additional 1,423,529 shares during the period. State Street Corp lifted its holdings in Broadstone Net Lease by 16.8% in the first quarter. State Street Corp now owns 7,430,232 shares of the company’s stock valued at $163,754,000 after acquiring an additional 1,067,308 shares during the last quarter. Finally, Long Pond Capital LP purchased a new position in Broadstone Net Lease in the fourth quarter worth approximately $11,934,000. 77.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Truist Financial reduced their price objective on shares of Broadstone Net Lease from $19.00 to $18.00 in a research report on Wednesday, August 30th.

Broadstone Net Lease Company 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 June 30, 2023, BNL's diversified portfolio consisted of 801 individual net leased commercial properties with 794 properties located in 44 U.S.