Handelsbanken Fonder AB Grows Stock Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Handelsbanken Fonder AB boosted its position in Broadstone Net Lease, Inc. (NYSE:BNL) by 32.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,700 shares of the company’s stock after buying an additional 15,500 shares during the period. Handelsbanken Fonder AB’s holdings in Broadstone Net Lease were worth $1,188,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BNL. Quarry LP boosted its holdings in shares of Broadstone Net Lease by 93.1% in the second quarter. Quarry LP now owns 2,556 shares of the company’s stock valued at $41,000 after acquiring an additional 1,232 shares in the last quarter. Arden Trust Co purchased a new stake in shares of Broadstone Net Lease during the 2nd quarter worth approximately $180,000. Xponance Inc. grew its holdings in shares of Broadstone Net Lease by 5.1% in the 2nd quarter. Xponance Inc. now owns 11,922 shares of the company’s stock worth $189,000 after acquiring an additional 580 shares during the period. Versor Investments LP acquired a new stake in shares of Broadstone Net Lease in the 2nd quarter worth approximately $205,000. Finally, Pasadena Private Wealth LLC increased its stake 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 in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BNL has been the topic of several research reports. The Goldman Sachs Group upped their target price on Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, September 13th. Truist Financial boosted their price objective on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Finally, Wedbush began coverage on shares of Broadstone Net Lease in a report on Monday, August 19th. They set an “outperform” rating and a $20.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Broadstone Net Lease currently has an average rating of “Hold” and an average price target of $18.00.

Broadstone Net Lease Stock Up 0.4 %

NYSE BNL opened at $18.14 on Friday. Broadstone Net Lease, Inc. has a fifty-two week low of $13.68 and a fifty-two week high of $19.15. The business has a fifty day moving average of $18.15 and a 200-day moving average of $16.50. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 21.85 and a beta of 1.11.

Broadstone Net Lease (NYSE:BNL) last announced its 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 firm had revenue of $105.91 million during the quarter, compared to analyst estimates 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 period in the previous year, the firm posted $0.35 EPS. As a group, analysts anticipate that Broadstone Net Lease, Inc. will post 1.39 EPS for the current year.

Broadstone Net Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 6.40%. The ex-dividend date of this dividend is Monday, September 30th. Broadstone Net Lease’s payout ratio is 139.76%.

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.