Wealthedge Investment Advisors LLC Makes New Investment in Broadstone Net Lease, Inc. $BNL

Wealthedge Investment Advisors LLC acquired a new stake in Broadstone Net Lease, Inc. (NYSE:BNL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 66,612 shares of the company’s stock, valued at approximately $1,069,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Broadstone Net Lease by 10.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 108,124 shares of the company’s stock valued at $1,842,000 after purchasing an additional 10,164 shares in the last quarter. LPL Financial LLC lifted its position in shares of Broadstone Net Lease by 17.1% during the 1st quarter. LPL Financial LLC now owns 131,654 shares of the company’s stock worth $2,243,000 after buying an additional 19,190 shares during the last quarter. Natixis Advisors LLC grew its position in shares of Broadstone Net Lease by 6.0% in the 1st quarter. Natixis Advisors LLC now owns 126,446 shares of the company’s stock valued at $2,155,000 after buying an additional 7,206 shares during the last quarter. Bank of Nova Scotia purchased a new position in shares of Broadstone Net Lease in the 1st quarter valued at $4,910,000. Finally, Vanguard Group Inc. raised its stake in Broadstone Net Lease by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 27,711,994 shares of the company’s stock worth $472,212,000 after acquiring an additional 266,900 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BNL shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Broadstone Net Lease in a report on Wednesday, October 8th. KeyCorp raised Broadstone Net Lease from a “sector weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a research report on Tuesday, August 19th. Cantor Fitzgerald started coverage on shares of Broadstone Net Lease in a research report on Wednesday, October 1st. They set an “overweight” rating and a $21.00 target price on the stock. Truist Financial upped their price target on shares of Broadstone Net Lease from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Tuesday, November 25th. Finally, UBS Group increased their price target on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $20.11.

Broadstone Net Lease Price Performance

Shares of NYSE BNL opened at $17.57 on Monday. The stock has a fifty day moving average price of $18.23 and a 200 day moving average price of $17.25. Broadstone Net Lease, Inc. has a 1-year low of $13.96 and a 1-year high of $18.87. The company has a market cap of $3.32 billion, a PE ratio of 37.38 and a beta of 1.00.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.23). The firm had revenue of $114.17 million for the quarter, compared to analysts’ expectations of $111.89 million. Broadstone Net Lease had a return on equity of 2.91% and a net margin of 20.04%. Broadstone Net Lease has set its FY 2025 guidance at 1.490-1.500 EPS. Analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date of this dividend is Wednesday, December 31st. Broadstone Net Lease’s payout ratio is currently 246.81%.

Broadstone Net Lease Profile

Broadstone Net Lease, Inc (the Corporation) is a Maryland corporation formed on October 18, 2007, that elected to be taxed as a real estate investment trust (REIT) commencing with the taxable year ended December 31, 2008. Broadstone Net Lease, LLC (the Corporation’s operating company, or the OP), is the entity through which the Corporation conducts its business and owns (either directly or through subsidiaries) all of the Corporation’s properties.