Arden Trust Co Makes New Investment in Broadstone Net Lease, Inc. (NYSE:BNL)

Arden Trust Co bought a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,333 shares of the company’s stock, valued at approximately $180,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Securities Inc. acquired a new stake in Broadstone Net Lease during the fourth quarter worth $32,000. Federated Hermes Inc. acquired a new stake in Broadstone Net Lease during the fourth quarter worth $49,000. Tennessee Valley Asset Management Partners purchased a new position in shares of Broadstone Net Lease during the fourth quarter worth $86,000. Quotient Wealth Partners LLC purchased a new position in shares of Broadstone Net Lease during the fourth quarter worth $186,000. Finally, Pasadena Private Wealth LLC boosted its position in shares of Broadstone Net Lease by 12.2% during the first quarter. Pasadena Private Wealth LLC now owns 13,330 shares of the company’s stock worth $209,000 after buying an additional 1,449 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on BNL shares. KeyCorp started coverage on Broadstone Net Lease in a research report on Wednesday, June 12th. They set a “sector weight” rating for the company. Wolfe Research restated a “peer perform” rating on shares of Broadstone Net Lease in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Broadstone Net Lease presently has a consensus rating of “Hold” and a consensus price target of $16.75.

Broadstone Net Lease Trading Down 0.4 %

NYSE:BNL traded down $0.07 during midday trading on Wednesday, reaching $17.13. The company had a trading volume of 1,203,314 shares, compared to its average volume of 1,224,783. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 17.83 and a beta of 1.11. The stock’s fifty day simple moving average is $16.22 and its 200-day simple moving average is $15.59. Broadstone Net Lease, Inc. has a 12-month low of $13.68 and a 12-month high of $18.10.

Broadstone Net Lease (NYSE:BNL) last released 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 company had revenue of $105.91 million during the quarter, compared to analysts’ expectations of $105.95 million. Broadstone Net Lease had a net margin of 36.78% and a return on equity of 4.85%. During the same quarter last year, the business posted $0.35 earnings per share. As a group, sell-side analysts expect that Broadstone Net Lease, Inc. will post 1.39 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.29 per share. The ex-dividend date is Monday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 6.77%. Broadstone Net Lease’s dividend payout ratio is currently 120.83%.

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.