Broadstone Net Lease, Inc. (NYSE:BNL) Stock Position Decreased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. cut its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 4.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,963 shares of the company’s stock after selling 2,854 shares during the period. Daiwa Securities Group Inc.’s holdings in Broadstone Net Lease were worth $981,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tritonpoint Wealth LLC purchased a new stake in shares of Broadstone Net Lease during the 4th quarter worth about $29,582,000. Prime Capital Investment Advisors LLC purchased a new stake in shares of Broadstone Net Lease during the 4th quarter worth about $10,074,000. Invesco Ltd. raised its stake in shares of Broadstone Net Lease by 11.9% during the 3rd quarter. Invesco Ltd. now owns 799,846 shares of the company’s stock worth $11,438,000 after purchasing an additional 84,801 shares in the last quarter. Dark Forest Capital Management LP raised its stake in shares of Broadstone Net Lease by 254.6% in the 3rd quarter. Dark Forest Capital Management LP now owns 161,880 shares of the company’s stock valued at $2,315,000 after acquiring an additional 116,225 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Broadstone Net Lease in the 3rd quarter valued at approximately $2,989,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Broadstone Net Lease news, CFO Kevin Fennell purchased 4,000 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 63,556 shares in the company, valued at approximately $929,824.28. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Kevin Fennell acquired 4,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were bought at an average price 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 of the company’s stock, valued at $929,824.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael A. Coke acquired 10,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were purchased at an average cost of $14.67 per share, for a total transaction of $146,700.00. Following the acquisition, the director now directly owns 34,817 shares in the company, valued at approximately $510,765.39. The disclosure for this purchase can be found here. Company insiders own 0.81% of the company’s stock.

Analyst Upgrades and Downgrades

BNL has been the topic of a number of recent analyst reports. TheStreet downgraded Broadstone Net Lease from a “b-” rating to a “c+” rating in a research note on Thursday, February 22nd. Wolfe Research reissued a “peer perform” rating on shares of Broadstone Net Lease in a research note on Tuesday, April 9th. Truist Financial cut their price objective on Broadstone Net Lease from $18.00 to $17.00 and set a “hold” rating on the stock in a research note on Tuesday, February 27th. Finally, The Goldman Sachs Group initiated coverage on Broadstone Net Lease in a research note on Thursday, March 7th. They issued a “sell” rating and a $14.00 price objective on the stock. One 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $16.75.

Broadstone Net Lease Stock Down 0.8 %

Shares of NYSE BNL opened at $14.44 on Thursday. The business’s 50 day moving average is $14.98 and its two-hundred day moving average is $15.58. The company has a market cap of $2.71 billion, a P/E ratio of 17.60 and a beta of 1.09. Broadstone Net Lease, Inc. has a 12 month low of $13.68 and a 12 month high of $17.59.

Broadstone Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 7.90%. The ex-dividend date was Wednesday, March 27th. Broadstone Net Lease’s dividend payout ratio is currently 139.03%.

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.