Broadstone Net Lease, Inc. (NYSE:BNL) Stock Holdings Boosted by California Public Employees Retirement System

California Public Employees Retirement System lifted its position in Broadstone Net Lease, Inc. (NYSE:BNL) by 1.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 300,158 shares of the company’s stock after buying an additional 5,153 shares during the period. California Public Employees Retirement System owned approximately 0.16% of Broadstone Net Lease worth $5,169,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of BNL. Principal Financial Group Inc. raised its position in Broadstone Net Lease by 4.0% in the third quarter. Principal Financial Group Inc. now owns 14,455,891 shares of the company’s stock worth $206,719,000 after acquiring an additional 551,241 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Broadstone Net Lease by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,624,863 shares of the company’s stock valued at $37,536,000 after purchasing an additional 103,079 shares during the last quarter. Northern Trust Corp boosted its holdings in Broadstone Net Lease by 3.9% during the third quarter. Northern Trust Corp now owns 2,156,654 shares of the company’s stock worth $30,840,000 after buying an additional 81,612 shares in the last quarter. Aew Capital Management L P grew its position in Broadstone Net Lease by 143.0% in the third quarter. Aew Capital Management L P now owns 2,050,890 shares of the company’s stock worth $29,328,000 after buying an additional 1,206,830 shares during the last quarter. Finally, Tritonpoint Wealth LLC bought a new position in shares of Broadstone Net Lease in the fourth quarter valued at $29,582,000. Institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling at Broadstone Net Lease

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

Analysts Set New Price Targets

BNL has been the subject of several research reports. The Goldman Sachs Group started coverage on Broadstone Net Lease in a research note on Thursday, March 7th. They set a “sell” rating and a $14.00 price objective for the company. Wolfe Research reissued a “peer perform” rating on shares of Broadstone Net Lease in a research note on Tuesday, April 9th. Truist Financial reduced 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 note on Tuesday, February 27th. Finally, TheStreet downgraded shares of Broadstone Net Lease from a “b-” rating to a “c+” rating in a research report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Broadstone Net Lease currently has a consensus rating of “Hold” and an average price target of $16.75.

Broadstone Net Lease Trading Down 0.1 %

Shares of BNL stock opened at $15.23 on Friday. The stock’s fifty day simple moving average is $14.86 and its 200-day simple moving average is $15.57. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of 15.86 and a beta of 1.10. Broadstone Net Lease, Inc. has a 1-year low of $13.68 and a 1-year high of $17.59.

Broadstone Net Lease (NYSE:BNL) last released its earnings results on Wednesday, May 1st. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $105.37 million for the quarter, compared to analysts’ expectations of $107.76 million. Broadstone Net Lease had a return on equity of 5.59% and a net margin of 42.23%. During the same quarter in the previous year, the business posted $0.34 EPS. On average, sell-side analysts predict that Broadstone Net Lease, Inc. will post 1.38 EPS for the current year.

Broadstone Net Lease Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.29 dividend. This is an increase from Broadstone Net Lease’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, June 28th. This represents a $1.16 dividend on an annualized basis and a yield of 7.62%. Broadstone Net Lease’s dividend payout ratio is presently 118.75%.

About Broadstone Net Lease

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.