Systematic Financial Management LP Takes $2.98 Million Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Systematic Financial Management LP purchased a new stake in Broadstone Net Lease, Inc. (NYSE:BNL) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 187,800 shares of the company’s stock, valued at approximately $2,980,000. Systematic Financial Management LP owned about 0.10% of Broadstone Net Lease as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Arden Trust Co acquired a new stake in shares of Broadstone Net Lease in the second quarter valued at about $180,000. Xponance Inc. lifted its stake in shares of Broadstone Net Lease by 5.1% in the second quarter. Xponance Inc. now owns 11,922 shares of the company’s stock valued at $189,000 after buying an additional 580 shares during the period. Versor Investments LP bought a new stake in shares of Broadstone Net Lease in the second quarter valued at about $205,000. Pasadena Private Wealth LLC lifted its stake in shares of Broadstone Net Lease by 12.2% in the first quarter. Pasadena Private Wealth LLC now owns 13,330 shares of the company’s stock valued at $209,000 after buying an additional 1,449 shares during the period. Finally, Covestor Ltd lifted its stake in shares of Broadstone Net Lease by 53.4% in the first quarter. Covestor Ltd now owns 13,406 shares of the company’s stock valued at $210,000 after buying an additional 4,669 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Broadstone Net Lease Trading Up 0.6 %

NYSE:BNL opened at $18.84 on Monday. Broadstone Net Lease, Inc. has a 1 year low of $13.68 and a 1 year high of $19.10. The firm has a 50 day moving average of $18.02 and a 200-day moving average of $16.29. The stock has a market capitalization of $3.55 billion, a P/E ratio of 19.63 and a beta of 1.11.

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

Broadstone Net Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.16%. The ex-dividend date is Monday, September 30th. Broadstone Net Lease’s dividend payout ratio is currently 120.83%.

Analysts Set New Price Targets

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