Prime Capital Investment Advisors LLC Has $5.86 Million Stock Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Prime Capital Investment Advisors LLC lessened its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 11.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 369,330 shares of the company’s stock after selling 49,638 shares during the quarter. Prime Capital Investment Advisors LLC owned 0.20% of Broadstone Net Lease worth $5,861,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. GSI Capital Advisors LLC boosted its holdings in shares of Broadstone Net Lease by 39.6% in the 4th quarter. GSI Capital Advisors LLC now owns 241,085 shares of the company’s stock valued at $4,151,000 after purchasing an additional 68,370 shares in the last quarter. Evermay Wealth Management LLC boosted its holdings in shares of Broadstone Net Lease by 27.9% in the 4th quarter. Evermay Wealth Management LLC now owns 42,999 shares of the company’s stock valued at $744,000 after purchasing an additional 9,385 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Broadstone Net Lease by 431.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,176,195 shares of the company’s stock valued at $18,431,000 after acquiring an additional 955,066 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Broadstone Net Lease by 688.9% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 179,476 shares of the company’s stock valued at $3,091,000 after acquiring an additional 156,727 shares in the last quarter. Finally, QRG Capital Management Inc. acquired a new stake in shares of Broadstone Net Lease during the 4th quarter valued at $232,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Stock Up 1.9 %

Shares of BNL stock opened at $18.64 on Monday. The firm has a 50 day moving average of $17.62 and a 200-day moving average of $16.01. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 19.42 and a beta of 1.11. Broadstone Net Lease, Inc. has a 52 week low of $13.68 and a 52 week high of $18.72.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). Broadstone Net Lease had a return on equity of 4.86% and a net margin of 36.78%. The company had revenue of $105.91 million during the quarter, compared to analyst estimates of $105.95 million. During the same quarter in the previous year, the business posted $0.35 earnings per share. Analysts anticipate that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 6.22%. The ex-dividend date is Monday, September 30th. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 120.83%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BNL shares. Wedbush started coverage on Broadstone Net Lease in a report on Monday, August 19th. They set an “outperform” rating and a $20.00 price objective on the stock. The Goldman Sachs Group raised their price objective on Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday. KeyCorp started coverage on Broadstone Net Lease in a report on Wednesday, June 12th. They set a “sector weight” rating on the stock. Finally, Truist Financial raised their price objective on Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.00.

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.