Broadstone Net Lease, Inc. (NYSE:BNL) Stock Holdings Boosted by Aew Capital Management L P

Aew Capital Management L P raised its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 18.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,425,180 shares of the company’s stock after buying an additional 374,290 shares during the period. Broadstone Net Lease comprises about 1.5% of Aew Capital Management L P’s investment portfolio, making the stock its 24th biggest holding. Aew Capital Management L P’s holdings in Broadstone Net Lease were worth $41,762,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Castleview Partners LLC acquired a new stake in Broadstone Net Lease during the third quarter worth about $36,000. Federated Hermes Inc. acquired a new stake in Broadstone Net Lease during the fourth quarter worth about $49,000. Tennessee Valley Asset Management Partners acquired a new stake in Broadstone Net Lease during the fourth quarter worth about $86,000. Covestor Ltd grew its position in Broadstone Net Lease by 123.1% during the third quarter. Covestor Ltd now owns 5,167 shares of the company’s stock worth $74,000 after buying an additional 2,851 shares in the last quarter. Finally, Evergreen Capital Management LLC acquired a new stake in Broadstone Net Lease during the third quarter worth about $147,000. 89.07% of the stock is owned by institutional investors.

Broadstone Net Lease Price Performance

Shares of NYSE:BNL traded down $0.01 during trading on Friday, reaching $14.34. The stock had a trading volume of 863,396 shares, compared to its average volume of 1,267,809. The stock has a market capitalization of $2.69 billion, a PE ratio of 17.48 and a beta of 1.09. The business’s 50-day moving average price is $14.90 and its 200 day moving average price is $15.56. Broadstone Net Lease, Inc. has a 52 week low of $13.68 and a 52 week high of $17.59.

Broadstone Net Lease Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 7.95%. The ex-dividend date of this dividend was Wednesday, March 27th. Broadstone Net Lease’s dividend payout ratio is currently 139.02%.

Insider Activity at Broadstone Net Lease

In related news, CFO Kevin Fennell purchased 4,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was acquired at an average price of $14.63 per share, with a total value of $58,520.00. Following the completion of the acquisition, the chief financial officer now directly owns 63,556 shares in the company, valued at approximately $929,824.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Kevin Fennell purchased 4,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was acquired at an average price of $14.63 per share, with a total value of $58,520.00. Following the completion of the acquisition, the chief financial officer now directly owns 63,556 shares in the company, valued at approximately $929,824.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael A. Coke purchased 10,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was bought at an average cost of $14.67 per share, with a total value of $146,700.00. Following the acquisition, the director now owns 34,817 shares of the company’s stock, valued at $510,765.39. The disclosure for this purchase can be found here. 0.62% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BNL shares. The Goldman Sachs Group initiated coverage on shares of Broadstone Net Lease in a research note on Thursday, March 7th. They set a “sell” rating and a $14.00 price target for the company. Wolfe Research reiterated a “peer perform” rating on shares of Broadstone Net Lease in a research note on Tuesday, April 9th. Truist Financial cut their target price on shares of Broadstone Net Lease from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Tuesday, February 27th. Finally, TheStreet cut shares of Broadstone Net Lease from a “b-” rating to a “c+” rating in a research note on Thursday, February 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $16.75.

Broadstone Net Lease 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.