Prevail Innovative Wealth Advisors LLC Purchases 68,097 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Prevail Innovative Wealth Advisors LLC grew its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 62.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 177,588 shares of the company’s stock after buying an additional 68,097 shares during the quarter. Prevail Innovative Wealth Advisors LLC owned 0.09% of Broadstone Net Lease worth $2,818,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of BNL. Principal Securities Inc. purchased a new position in Broadstone Net Lease during the 4th quarter valued at $32,000. Arden Trust Co purchased a new stake in shares of Broadstone Net Lease during the second quarter valued at $180,000. Quotient Wealth Partners LLC bought a new position in shares of Broadstone Net Lease in the fourth quarter worth about $186,000. Versor Investments LP purchased a new position in Broadstone Net Lease in the 2nd quarter worth about $205,000. Finally, Pasadena Private Wealth LLC lifted its holdings in Broadstone Net Lease by 12.2% during the 1st quarter. Pasadena Private Wealth LLC now owns 13,330 shares of the company’s stock valued at $209,000 after buying an additional 1,449 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Broadstone Net Lease Stock Performance

NYSE:BNL opened at $18.30 on Friday. The firm has a 50-day simple moving average of $17.56 and a 200-day simple moving average of $15.97. Broadstone Net Lease, Inc. has a one year low of $13.68 and a one year high of $18.72. The firm has a market cap of $3.45 billion, a P/E ratio of 19.06 and a beta of 1.11.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.15). The business had revenue of $105.91 million for the quarter, compared to analysts’ expectations 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 business earned $0.35 earnings per share. On average, research analysts predict that Broadstone Net Lease, Inc. will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The business also recently disclosed 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 dividend yield of 6.34%. The ex-dividend date of this dividend is Monday, September 30th. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 120.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BNL shares. Wedbush began coverage on shares of Broadstone Net Lease in a research note on Monday, August 19th. They issued an “outperform” rating and a $20.00 target price on the stock. Truist Financial boosted their price target on Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a report on Friday, August 16th. Finally, KeyCorp started coverage on Broadstone Net Lease in a report on Wednesday, June 12th. They set a “sector weight” rating on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.