31,072 Shares in Broadstone Net Lease, Inc. (NYSE:BNL) Acquired by SteelPeak Wealth LLC

SteelPeak Wealth LLC purchased a new position in Broadstone Net Lease, Inc. (NYSE:BNL) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 31,072 shares of the company’s stock, valued at approximately $496,000.

A number of other hedge funds also recently modified their holdings of the stock. Handelsbanken Fonder AB grew its stake in Broadstone Net Lease by 2.4% in the 4th quarter. Handelsbanken Fonder AB now owns 29,900 shares of the company’s stock valued at $515,000 after buying an additional 700 shares in the last quarter. Natixis Advisors L.P. grew its stake in Broadstone Net Lease by 1.3% in the 4th quarter. Natixis Advisors L.P. now owns 64,207 shares of the company’s stock valued at $1,105,000 after buying an additional 821 shares in the last quarter. Perigon Wealth Management LLC grew its stake in Broadstone Net Lease by 1.1% in the 4th quarter. Perigon Wealth Management LLC now owns 81,773 shares of the company’s stock valued at $1,408,000 after buying an additional 915 shares in the last quarter. HGI Capital Management LLC grew its stake in Broadstone Net Lease by 2.5% in the 4th quarter. HGI Capital Management LLC now owns 43,238 shares of the company’s stock valued at $745,000 after buying an additional 1,055 shares in the last quarter. Finally, Metis Global Partners LLC grew its position 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 valued at $212,000 after purchasing an additional 1,356 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on BNL. KeyCorp began coverage on shares of Broadstone Net Lease in a research report on Wednesday, June 12th. They set a “sector weight” rating for the company. The Goldman Sachs Group began coverage on shares of Broadstone Net Lease in a research report on Thursday, March 7th. They set a “sell” rating and a $14.00 price target for the company. Finally, Wolfe Research restated a “peer perform” rating on shares of Broadstone Net Lease in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Broadstone Net Lease presently has a consensus rating of “Hold” and an average price target of $16.75.

Broadstone Net Lease Stock Up 2.4 %

NYSE:BNL traded up $0.37 during midday trading on Friday, hitting $15.87. The company had a trading volume of 2,830,179 shares, compared to its average volume of 1,107,827. Broadstone Net Lease, Inc. has a 52-week low of $13.68 and a 52-week high of $17.59. The stock’s fifty day moving average price is $15.24 and its 200-day moving average price is $15.63. The company has a market capitalization of $2.99 billion, a PE ratio of 16.53 and a beta of 1.10.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. The business had revenue of $105.37 million during the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $0.34 earnings per share. As a group, research analysts forecast 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 will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, June 28th. This is an increase from Broadstone Net Lease’s previous quarterly dividend of $0.29. This represents a $1.16 annualized dividend and a yield of 7.31%. Broadstone Net Lease’s payout ratio is currently 118.75%.

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.