Broadstone Net Lease, Inc. (NYSE:BNL) Stock Position Decreased by Sargent Investment Group LLC

Sargent Investment Group LLC lessened its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 7.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 77,775 shares of the company’s stock after selling 5,845 shares during the period. Sargent Investment Group LLC’s holdings in Broadstone Net Lease were worth $1,339,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of BNL. Principal Financial Group Inc. lifted its stake in shares of Broadstone Net Lease by 4.0% in the 3rd quarter. Principal Financial Group Inc. now owns 14,455,891 shares of the company’s stock worth $206,719,000 after acquiring an additional 551,241 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Broadstone Net Lease by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,624,863 shares of the company’s stock worth $37,536,000 after acquiring an additional 103,079 shares during the period. Aew Capital Management L P lifted its stake in shares of Broadstone Net Lease by 18.3% in the 4th quarter. Aew Capital Management L P now owns 2,425,180 shares of the company’s stock worth $41,762,000 after acquiring an additional 374,290 shares during the period. Northern Trust Corp lifted its stake in shares of Broadstone Net Lease by 3.9% in the 3rd quarter. Northern Trust Corp now owns 2,156,654 shares of the company’s stock worth $30,840,000 after acquiring an additional 81,612 shares during the period. Finally, Tritonpoint Wealth LLC acquired a new stake in shares of Broadstone Net Lease in the 4th quarter worth approximately $29,582,000. Institutional investors own 89.07% of the company’s stock.

Insider Activity

In other news, CFO Kevin Fennell bought 4,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were bought at an average cost of $14.63 per share, with a total value of $58,520.00. Following the transaction, 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 legal filing with the SEC, which can be accessed through this hyperlink. In other Broadstone Net Lease news, Director Michael A. Coke purchased 10,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were acquired at an average price of $14.67 per share, for a total transaction 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin Fennell acquired 4,000 shares of the firm’s 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 of the company’s stock, valued at approximately $929,824.28. The disclosure for this purchase can be found here. 0.62% of the stock is currently owned by corporate insiders.

Broadstone Net Lease Stock Performance

Shares of NYSE:BNL traded down $0.02 during mid-day trading on Friday, hitting $14.33. The stock had a trading volume of 863,403 shares, compared to its average volume of 1,023,648. The company has a market cap of $2.69 billion, a PE ratio of 17.48 and a beta of 1.09. Broadstone Net Lease, Inc. has a 12-month low of $13.68 and a 12-month high of $17.59. The company’s 50 day moving average is $14.90 and its 200-day moving average is $15.57.

Broadstone Net Lease Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 7.96%. The ex-dividend date of this dividend was Wednesday, March 27th. Broadstone Net Lease’s dividend payout ratio is currently 139.03%.

Wall Street Analysts Forecast Growth

BNL has been the subject of several recent research reports. 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. Wolfe Research reissued a “peer perform” rating on shares of Broadstone Net Lease in a research note on Tuesday, April 9th. TheStreet lowered shares of Broadstone Net Lease from a “b-” rating to a “c+” rating in a research note on Thursday, February 22nd. Finally, 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 target price for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.75.

Broadstone Net Lease Company 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.