Pensionfund Sabic Trims Stake in Broadstone Net Lease, Inc. (NYSE:BNL)

Pensionfund Sabic trimmed its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 19.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 62,000 shares of the company’s stock after selling 15,000 shares during the period. Pensionfund Sabic’s holdings in Broadstone Net Lease were worth $1,175,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in BNL. GAMMA Investing LLC lifted its stake in Broadstone Net Lease by 257.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $33,000 after acquiring an additional 1,272 shares during the period. Quarry LP raised its holdings in shares of Broadstone Net Lease by 93.1% during the second quarter. Quarry LP now owns 2,556 shares of the company’s stock valued at $41,000 after purchasing an additional 1,232 shares during the last quarter. Arden Trust Co bought a new position in Broadstone Net Lease during the second quarter valued at approximately $180,000. Xponance Inc. boosted its holdings in Broadstone Net Lease by 5.1% in the second quarter. Xponance Inc. now owns 11,922 shares of the company’s stock worth $189,000 after purchasing an additional 580 shares during the last quarter. Finally, Versor Investments LP purchased a new stake in Broadstone Net Lease in the second quarter worth approximately $205,000. 89.07% of the stock is owned by institutional investors.

Broadstone Net Lease Price Performance

Shares of BNL stock opened at $18.07 on Friday. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 18.82 and a beta of 1.11. Broadstone Net Lease, Inc. has a 1 year low of $13.68 and a 1 year high of $19.15. The firm has a fifty day moving average price of $18.14 and a 200-day moving average price of $16.48.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings results 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). Broadstone Net Lease had a net margin of 36.78% and a return on equity of 4.86%. The company had revenue of $105.91 million for the quarter, compared to the consensus estimate of $105.95 million. During the same period in the prior year, the firm posted $0.35 EPS. Equities research analysts expect that Broadstone Net Lease, Inc. will post 1.39 EPS for the current year.

Broadstone Net Lease Announces Dividend

The company 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 $0.29 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.42%. Broadstone Net Lease’s payout ratio is currently 120.83%.

Analyst Ratings Changes

A number of brokerages have weighed in on BNL. Wedbush began coverage on shares of Broadstone Net Lease in a research note on Monday, August 19th. They set an “outperform” rating and a $20.00 target price for the company. Truist Financial upped their price objective on Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Finally, The Goldman Sachs Group raised their target price on Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Friday, September 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $18.00.

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.