Edgestream Partners L.P. Buys Shares of 101,262 Broadstone Net Lease, Inc. (NYSE:BNL)

Edgestream Partners L.P. purchased a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) in the 1st quarter, Holdings Channel reports. The firm purchased 101,262 shares of the company’s stock, valued at approximately $1,587,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BNL. Principal Securities Inc. bought a new position in shares of Broadstone Net Lease in the 4th quarter valued at about $32,000. Federated Hermes Inc. acquired a new position in Broadstone Net Lease during the fourth quarter worth approximately $49,000. Tennessee Valley Asset Management Partners acquired a new position in Broadstone Net Lease during the fourth quarter worth approximately $86,000. Quotient Wealth Partners LLC acquired a new stake in shares of Broadstone Net Lease in the fourth quarter valued at approximately $186,000. Finally, Metis Global Partners LLC boosted its stake in shares of Broadstone Net Lease by 12.3% during the 4th quarter. Metis Global Partners LLC now owns 12,340 shares of the company’s stock worth $212,000 after acquiring an additional 1,356 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Wolfe Research restated a “peer perform” rating on shares of Broadstone Net Lease in a research note on Tuesday, April 9th. KeyCorp assumed 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 equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $16.75.

Broadstone Net Lease Trading Up 0.8 %

BNL stock traded up $0.13 during trading hours on Monday, hitting $17.41. 1,122,648 shares of the stock were exchanged, compared to its average volume of 1,195,830. The company has a 50-day simple moving average of $15.76 and a two-hundred day simple moving average of $15.54. The firm has a market capitalization of $3.28 billion, a P/E ratio of 18.14 and a beta of 1.11. Broadstone Net Lease, Inc. has a 12 month low of $13.68 and a 12 month high of $17.63.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $105.37 million for the quarter, compared to analyst estimates of $107.76 million. Broadstone Net Lease had a net margin of 42.23% and a return on equity of 5.60%. During the same period last year, the firm earned $0.34 earnings per share. On average, equities research analysts predict that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current year.

Broadstone Net Lease Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.66%. This is an increase from Broadstone Net Lease’s previous quarterly dividend of $0.29. The ex-dividend date was Friday, June 28th. Broadstone Net Lease’s payout ratio is presently 120.83%.

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.