Natixis Advisors LLC Has $1.11 Million Stock Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Natixis Advisors LLC increased its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 15.2% during the second quarter, Holdings Channel reports. The institutional investor owned 70,008 shares of the company’s stock after purchasing an additional 9,258 shares during the quarter. Natixis Advisors LLC’s holdings in Broadstone Net Lease were worth $1,111,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Broadstone Net Lease by 0.6% during the first quarter. Vanguard Group Inc. now owns 27,962,340 shares of the company’s stock worth $438,170,000 after buying an additional 178,102 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Broadstone Net Lease by 1.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,066,020 shares of the company’s stock worth $87,237,000 after buying an additional 55,833 shares in the last quarter. Cohen & Steers Inc. grew its position in Broadstone Net Lease by 22.4% during the fourth quarter. Cohen & Steers Inc. now owns 3,752,300 shares of the company’s stock worth $64,615,000 after buying an additional 686,765 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC grew its position in Broadstone Net Lease by 74.3% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,860,534 shares of the company’s stock worth $49,258,000 after buying an additional 1,219,509 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Broadstone Net Lease by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,788,999 shares of the company’s stock worth $48,027,000 after buying an additional 164,136 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Broadstone Net Lease Trading Down 0.1 %

NYSE:BNL opened at $18.36 on Thursday. Broadstone Net Lease, Inc. has a 1 year low of $13.68 and a 1 year high of $18.72. The firm has a 50 day moving average of $17.51 and a 200-day moving average of $15.95. The stock has a market capitalization of $3.46 billion, a P/E ratio of 19.13 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). Broadstone Net Lease had a net margin of 36.78% and a return on equity of 4.86%. The firm had revenue of $105.91 million during the quarter, compared to the consensus estimate of $105.95 million. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.32%. The ex-dividend date of this dividend is Monday, September 30th. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 120.83%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on BNL shares. Wedbush started 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. Truist Financial raised 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. Finally, KeyCorp started coverage on shares of Broadstone Net Lease in a research note on Wednesday, June 12th. They set a “sector weight” rating for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $17.60.

About Broadstone Net Lease

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.