New England Private Wealth Advisors LLC Has $28.14 Million Stake in Broadstone Net Lease, Inc. (NYSE:BNL)

New England Private Wealth Advisors LLC lowered its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 2.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,773,234 shares of the company’s stock after selling 45,968 shares during the quarter. Broadstone Net Lease accounts for 4.9% of New England Private Wealth Advisors LLC’s holdings, making the stock its 4th biggest holding. New England Private Wealth Advisors LLC owned approximately 0.94% of Broadstone Net Lease worth $28,141,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Broadstone Net Lease by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 27,962,340 shares of the company’s stock valued at $438,170,000 after buying an additional 178,102 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Broadstone Net Lease by 1.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,066,020 shares of the company’s stock worth $87,237,000 after purchasing an additional 55,833 shares in the last quarter. Cohen & Steers Inc. raised its holdings in shares of Broadstone Net Lease by 22.4% during the fourth quarter. Cohen & Steers Inc. now owns 3,752,300 shares of the company’s stock valued at $64,615,000 after acquiring an additional 686,765 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC raised its stake in Broadstone Net Lease by 74.3% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,860,534 shares of the company’s stock valued at $49,258,000 after purchasing an additional 1,219,509 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Broadstone Net Lease by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,788,999 shares of the company’s stock worth $48,027,000 after acquiring an additional 164,136 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Stock Down 0.1 %

Shares of BNL stock opened at $18.36 on Thursday. Broadstone Net Lease, Inc. has a 52 week low of $13.68 and a 52 week high of $18.72. The business has a 50 day moving average of $17.51 and a two-hundred day moving average of $15.95. The company has a market cap of $3.46 billion, a P/E ratio of 19.13 and a beta of 1.11.

Broadstone Net Lease (NYSE:BNL) last posted 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 firm had revenue of $105.91 million for 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 earned $0.35 earnings per share. Analysts expect that Broadstone Net Lease, Inc. will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders 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 dividend on an annualized basis and a dividend yield of 6.32%. Broadstone Net Lease’s dividend payout ratio (DPR) is 120.83%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. KeyCorp began coverage on shares of Broadstone Net Lease in a report on Wednesday, June 12th. They issued a “sector weight” rating for the company. Truist Financial raised their price objective on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a report on Friday, August 16th. Finally, Wedbush started coverage on shares of Broadstone Net Lease in a research note on Monday, August 19th. They issued an “outperform” rating and a $20.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Broadstone Net Lease currently has a consensus rating of “Hold” and an average price target of $17.60.

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.