Mirae Asset Global Investments Co. Ltd. Has $10.48 Million Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Mirae Asset Global Investments Co. Ltd. raised its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 608,567 shares of the company’s stock after buying an additional 8,926 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.32% of Broadstone Net Lease worth $10,480,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State of Wyoming bought a new position in shares of Broadstone Net Lease in the 2nd quarter valued at about $26,000. Lazard Asset Management LLC bought a new position in shares of Broadstone Net Lease in the 2nd quarter valued at about $30,000. Castleview Partners LLC bought a new position in shares of Broadstone Net Lease in the 3rd quarter valued at about $36,000. FMR LLC grew its position in shares of Broadstone Net Lease by 67.8% in the 2nd quarter. FMR LLC now owns 1,903 shares of the company’s stock valued at $39,000 after acquiring an additional 769 shares during the period. Finally, Comerica Bank grew its position in shares of Broadstone Net Lease by 1,195.0% in the 3rd quarter. Comerica Bank now owns 4,649 shares of the company’s stock valued at $66,000 after acquiring an additional 4,290 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on BNL shares. Truist Financial decreased their price objective on shares of Broadstone Net Lease from $18.00 to $17.00 and set a “hold” rating for the company in a research report on Tuesday, February 27th. The Goldman Sachs Group initiated coverage on shares of Broadstone Net Lease in a research report on Thursday, March 7th. They issued a “sell” rating and a $14.00 price objective for the company. JPMorgan Chase & Co. raised shares of Broadstone Net Lease from a “neutral” rating to an “overweight” rating and set a $19.00 target price for the company in a report on Monday, December 18th. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadstone Net Lease in a report on Tuesday. Finally, TheStreet downgraded shares of Broadstone Net Lease from a “b-” rating to a “c+” rating in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $16.75.

Broadstone Net Lease Stock Performance

Shares of BNL stock opened at $14.68 on Friday. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of 17.90 and a beta of 1.09. The company has a 50-day simple moving average of $15.18 and a 200 day simple moving average of $15.55. Broadstone Net Lease, Inc. has a 52 week low of $13.68 and a 52 week high of $17.59.

Broadstone Net Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 7.77%. The ex-dividend date is Wednesday, March 27th. Broadstone Net Lease’s dividend payout ratio is currently 139.02%.

Insider Buying and Selling at Broadstone Net Lease

In other Broadstone Net Lease news, Director Michael A. Coke acquired 10,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was purchased at an average price of $14.67 per share, with a total value of $146,700.00. Following the acquisition, the director now directly owns 34,817 shares of the company’s stock, valued at approximately $510,765.39. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Broadstone Net Lease news, Director Michael A. Coke acquired 10,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was purchased at an average price of $14.67 per share, with a total value of $146,700.00. Following the acquisition, the director now directly owns 34,817 shares of the company’s stock, valued at approximately $510,765.39. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevin Fennell acquired 4,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was acquired at an average cost of $14.63 per share, with a total value of $58,520.00. Following the acquisition, the chief financial officer now directly owns 63,556 shares in the company, valued at $929,824.28. The disclosure for this purchase can be found here. Insiders own 0.62% of the company’s stock.

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 September 30, 2023, BNL's diversified portfolio consisted of 800 individual net leased commercial properties with 793 properties located in 44 U.S.