Broadstone Net Lease, Inc. (NYSE:BNL) Stock Holdings Lessened by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado cut its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 13.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,863 shares of the company’s stock after selling 2,727 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Broadstone Net Lease were worth $268,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BNL. Arden Trust Co purchased a new position in shares of Broadstone Net Lease during the 2nd quarter valued at $180,000. Versor Investments LP purchased a new position in Broadstone Net Lease in the second quarter valued at about $205,000. Pasadena Private Wealth LLC increased its position 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 worth $209,000 after purchasing an additional 1,449 shares during the last quarter. Covestor Ltd increased its position in Broadstone Net Lease by 53.4% in the 1st quarter. Covestor Ltd now owns 13,406 shares of the company’s stock worth $210,000 after purchasing an additional 4,669 shares during the last quarter. Finally, Shepherd Financial Partners LLC purchased a new stake in shares of Broadstone Net Lease during the 4th quarter worth about $233,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Stock Up 0.6 %

NYSE:BNL opened at $18.84 on Friday. The company’s 50 day moving average is $18.02 and its 200-day moving average is $16.28. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 19.63 and a beta of 1.11. Broadstone Net Lease, Inc. has a 12 month low of $13.68 and a 12 month high of $19.10.

Broadstone Net Lease (NYSE:BNL) last released its earnings results on Tuesday, July 30th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The firm had revenue of $105.91 million for the quarter, compared to analyst estimates 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 EPS. Research analysts predict that Broadstone Net Lease, Inc. will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Dividend Announcement

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 given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 6.16%. The ex-dividend date is Monday, September 30th. Broadstone Net Lease’s dividend payout ratio is currently 120.83%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BNL shares. KeyCorp initiated coverage on Broadstone Net Lease in a report on Wednesday, June 12th. They issued a “sector weight” rating on the stock. Truist Financial increased their price target on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. The Goldman Sachs Group lifted their price objective on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Friday, September 13th. Finally, Wedbush initiated coverage on shares of Broadstone Net Lease in a research report on Monday, August 19th. They set an “outperform” rating and a $20.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.