Broadstone Net Lease, Inc. (NYSE:BNL) Shares Acquired by Aew Capital Management L P

Aew Capital Management L P grew its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 18.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,425,180 shares of the company’s stock after purchasing an additional 374,290 shares during the period. Broadstone Net Lease makes up 1.5% of Aew Capital Management L P’s investment portfolio, making the stock its 24th largest position. Aew Capital Management L P owned 1.30% of Broadstone Net Lease worth $41,762,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of BNL. Castleview Partners LLC purchased a new stake in shares of Broadstone Net Lease in the 3rd quarter valued at $36,000. Federated Hermes Inc. purchased a new stake in shares of Broadstone Net Lease in the 4th quarter valued at $49,000. Covestor Ltd raised its holdings in shares of Broadstone Net Lease by 123.1% in the 3rd quarter. Covestor Ltd now owns 5,167 shares of the company’s stock valued at $74,000 after buying an additional 2,851 shares during the period. Tennessee Valley Asset Management Partners purchased a new stake in shares of Broadstone Net Lease in the 4th quarter valued at $86,000. Finally, Evergreen Capital Management LLC purchased a new stake in shares of Broadstone Net Lease in the 3rd quarter valued at $147,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Activity at Broadstone Net Lease

In other news, Director Michael A. Coke bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average cost of $14.67 per share, with a total value of $146,700.00. Following the transaction, the director now directly owns 34,817 shares in the company, valued at $510,765.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Kevin Fennell acquired 4,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was 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 owns 63,556 shares of the company’s stock, valued at $929,824.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael A. Coke acquired 10,000 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were bought at an average cost of $14.67 per share, with a total value of $146,700.00. Following the completion of the transaction, the director now directly owns 34,817 shares in the company, valued at approximately $510,765.39. The disclosure for this purchase can be found here. Insiders own 0.62% of the company’s stock.

Broadstone Net Lease Stock Performance

Shares of NYSE:BNL traded down $0.01 on Friday, hitting $14.34. 863,396 shares of the company’s stock were exchanged, compared to its average volume of 1,267,809. The firm’s 50-day moving average is $14.90 and its 200 day moving average is $15.56. The company has a market capitalization of $2.69 billion, a PE ratio of 17.48 and a beta of 1.09. Broadstone Net Lease, Inc. has a 1-year low of $13.68 and a 1-year high of $17.59.

Broadstone Net Lease Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a $0.285 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 7.95%. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 139.02%.

Analysts Set New Price Targets

BNL has been the topic of several research analyst reports. The Goldman Sachs Group initiated coverage on Broadstone Net Lease in a report on Thursday, March 7th. They issued a “sell” rating and a $14.00 price objective on the stock. Wolfe Research restated a “peer perform” rating on shares of Broadstone Net Lease in a report on Tuesday, April 9th. TheStreet downgraded Broadstone Net Lease from a “b-” rating to a “c+” rating in a report on Thursday, February 22nd. Finally, Truist Financial lowered their price objective on Broadstone Net Lease from $18.00 to $17.00 and set a “hold” rating for the company in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Broadstone Net Lease presently has a consensus rating of “Hold” and an average price target 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.