Daiwa Securities Group Inc. Trims Stock Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Daiwa Securities Group Inc. trimmed its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 3.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,877 shares of the company’s stock after selling 1,976 shares during the period. Daiwa Securities Group Inc.’s holdings in Broadstone Net Lease were worth $934,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of BNL. Principal Securities Inc. purchased a new position in Broadstone Net Lease in the 4th quarter valued at approximately $32,000. Arden Trust Co purchased a new position in Broadstone Net Lease in the 2nd quarter valued at approximately $180,000. Versor Investments LP bought a new position in Broadstone Net Lease in the 2nd quarter valued at $205,000. Pasadena Private Wealth LLC boosted its holdings in Broadstone Net Lease by 12.2% in the 1st quarter. Pasadena Private Wealth LLC now owns 13,330 shares of the company’s stock valued at $209,000 after purchasing an additional 1,449 shares during the period. Finally, Covestor Ltd boosted its holdings in Broadstone Net Lease by 53.4% in the 1st quarter. Covestor Ltd now owns 13,406 shares of the company’s stock valued at $210,000 after purchasing an additional 4,669 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Broadstone Net Lease Stock Performance

NYSE BNL opened at $18.64 on Monday. Broadstone Net Lease, Inc. has a 52-week low of $13.68 and a 52-week high of $18.72. The company has a market capitalization of $3.51 billion, a P/E ratio of 19.42 and a beta of 1.11. The company has a fifty day moving average of $17.62 and a 200-day moving average of $16.01.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.15). The business had revenue of $105.91 million during the quarter, compared to the consensus estimate of $105.95 million. Broadstone Net Lease had a return on equity of 4.86% and a net margin of 36.78%. During the same period in the prior year, the firm earned $0.35 earnings per share. As a group, analysts forecast that Broadstone Net Lease, Inc. will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 6.22%. The ex-dividend date of this dividend is Monday, September 30th. Broadstone Net Lease’s dividend payout ratio is presently 120.83%.

Wall Street Analyst Weigh In

BNL has been the subject of several analyst reports. Truist Financial raised their price target on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a report on Friday, August 16th. The Goldman Sachs Group raised their price target on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday. Wedbush initiated coverage on shares of Broadstone Net Lease in a report on Monday, August 19th. They issued an “outperform” rating and a $20.00 price target for the company. Finally, KeyCorp initiated coverage on shares of Broadstone Net Lease in a report on Wednesday, June 12th. They issued a “sector weight” rating for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $18.00.

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.