U.S. Capital Wealth Advisors LLC Reduces Stock Position in Broadstone Net Lease, Inc. (NYSE:BNL)

U.S. Capital Wealth Advisors LLC lowered its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 32.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 10,529 shares of the company’s stock after selling 5,000 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in Broadstone Net Lease were worth $181,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in Broadstone Net Lease by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 14,455,891 shares of the company’s stock valued at $206,719,000 after acquiring an additional 551,241 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of 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 in the last quarter. Aew Capital Management L P boosted its position in shares of Broadstone Net Lease by 18.3% in the 4th quarter. Aew Capital Management L P now owns 2,425,180 shares of the company’s stock worth $41,762,000 after purchasing an additional 374,290 shares in the last quarter. Northern Trust Corp increased its position in Broadstone Net Lease by 3.9% during the 3rd quarter. Northern Trust Corp now owns 2,156,654 shares of the company’s stock valued at $30,840,000 after buying an additional 81,612 shares in the last quarter. Finally, Tritonpoint Wealth LLC purchased a new position in Broadstone Net Lease during the fourth quarter valued at $29,582,000. Institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BNL shares. Truist Financial reduced their price target on Broadstone Net Lease from $18.00 to $17.00 and set a “hold” rating for the company in a report on Tuesday, February 27th. The Goldman Sachs Group began coverage on shares of Broadstone Net Lease in a research report on Thursday, March 7th. They set a “sell” rating and a $14.00 price target for the company. Wolfe Research reissued a “peer perform” rating on shares of Broadstone Net Lease in a report on Tuesday, April 9th. Finally, TheStreet cut Broadstone Net Lease from a “b-” rating to a “c+” rating in a research report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Broadstone Net Lease presently has an average rating of “Hold” and a consensus price target of $16.75.

Broadstone Net Lease Price Performance

BNL stock opened at $15.01 on Thursday. The company has a market cap of $2.82 billion, a P/E ratio of 15.64 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. The stock’s fifty day moving average price is $14.89 and its 200-day moving average price is $15.59.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Broadstone Net Lease had a return on equity of 5.60% and a net margin of 42.23%. The business had revenue of $105.37 million during the quarter, compared to the consensus estimate of $107.76 million. During the same period in the previous year, the company posted $0.34 EPS. As a group, analysts expect that Broadstone Net Lease, Inc. will post 1.38 earnings per share for the current year.

Broadstone Net Lease Increases Dividend

The firm also recently declared 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. The ex-dividend date is Friday, June 28th. This is an increase from Broadstone Net Lease’s previous quarterly dividend of $0.29. This represents a $1.16 annualized dividend and a yield of 7.73%. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 118.75%.

Insider Activity

In related news, CFO Kevin Fennell bought 4,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were bought 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 owns 63,556 shares in the company, valued at $929,824.28. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Broadstone Net Lease news, Director Michael A. Coke purchased 10,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was acquired at an average cost of $14.67 per share, for a total transaction of $146,700.00. Following the purchase, the director now directly 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 this link. Also, CFO Kevin Fennell acquired 4,000 shares of Broadstone Net Lease stock in a transaction dated Monday, February 26th. The shares were bought at an average price of $14.63 per share, for a total transaction of $58,520.00. Following the transaction, the chief financial officer now owns 63,556 shares of the company’s stock, valued at $929,824.28. The disclosure for this purchase can be found here. Insiders own 0.81% of the company’s stock.

Broadstone Net Lease 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.