Broadstone Net Lease, Inc. (NYSE:BNL) Shares Sold by Alesco Advisors LLC

Alesco Advisors LLC cut its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 154,949 shares of the company’s stock after selling 4,735 shares during the period. Alesco Advisors LLC owned approximately 0.08% of Broadstone Net Lease worth $2,668,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Tritonpoint Wealth LLC acquired a new position in shares of Broadstone Net Lease in the fourth quarter valued at approximately $29,582,000. Aew Capital Management L P grew its holdings in shares of Broadstone Net Lease by 143.0% in the third quarter. Aew Capital Management L P now owns 2,050,890 shares of the company’s stock valued at $29,328,000 after purchasing an additional 1,206,830 shares in the last quarter. HighTower Advisors LLC acquired a new position in shares of Broadstone Net Lease in the third quarter valued at approximately $11,016,000. Prime Capital Investment Advisors LLC acquired a new position in shares of Broadstone Net Lease in the fourth quarter valued at approximately $10,074,000. Finally, Principal Financial Group Inc. grew its holdings in shares of Broadstone Net Lease by 4.0% in the third quarter. Principal Financial Group Inc. now owns 14,455,891 shares of the company’s stock valued at $206,719,000 after purchasing an additional 551,241 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Broadstone Net Lease

In related news, CFO Kevin Fennell acquired 4,000 shares of Broadstone Net Lease stock in a transaction dated Monday, February 26th. The stock was acquired at an average price of $14.63 per share, for a total transaction 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 legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Kevin Fennell acquired 4,000 shares of Broadstone Net Lease stock in a transaction dated Monday, February 26th. The stock was acquired at an average price of $14.63 per share, for a total transaction 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael A. Coke acquired 10,000 shares of Broadstone Net Lease stock in a transaction dated Monday, February 26th. The shares were bought at an average price 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 approximately $510,765.39. The disclosure for this purchase can be found here. Insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Broadstone Net Lease in a report on Thursday, March 7th. They issued a “sell” rating and a $14.00 price objective for the company. Wolfe Research reiterated a “peer perform” rating on shares of Broadstone Net Lease in a research note on Tuesday, April 9th. Truist Financial decreased their price target on shares of Broadstone Net Lease from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Tuesday, February 27th. Finally, TheStreet downgraded shares of Broadstone Net Lease from a “b-” rating to a “c+” rating in a research note on Thursday, February 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $16.75.

Broadstone Net Lease Stock Down 0.1 %

Broadstone Net Lease stock traded down $0.01 during trading on Friday, reaching $14.34. The stock had a trading volume of 863,396 shares, compared to its average volume of 1,267,809. Broadstone Net Lease, Inc. has a 52-week low of $13.68 and a 52-week high of $17.59. The business has a 50 day moving average price of $14.90 and a 200 day moving average price of $15.56. The stock has a market cap of $2.69 billion, a PE ratio of 17.48 and a beta of 1.09.

Broadstone Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a dividend of $0.285 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.14 annualized dividend and a dividend yield of 7.95%. Broadstone Net Lease’s dividend payout ratio is presently 139.02%.

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.