Edgestream Partners L.P. Buys Shares of 101,262 Broadstone Net Lease, Inc. (NYSE:BNL)

Edgestream Partners L.P. purchased a new stake in Broadstone Net Lease, Inc. (NYSE:BNL) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 101,262 shares of the company’s stock, valued at approximately $1,587,000. Edgestream Partners L.P. owned approximately 0.05% of Broadstone Net Lease as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tritonpoint Wealth LLC purchased a new position in Broadstone Net Lease during the fourth quarter worth $29,582,000. GSI Capital Advisors LLC raised its stake in 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 during the last quarter. Prime Capital Investment Advisors LLC purchased a new position in Broadstone Net Lease in the 4th quarter valued at about $10,074,000. Evermay Wealth Management LLC boosted its stake in shares of Broadstone Net Lease by 27.9% during the 4th quarter. Evermay Wealth Management LLC now owns 42,999 shares of the company’s stock worth $744,000 after purchasing an additional 9,385 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Broadstone Net Lease by 431.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,176,195 shares of the company’s stock worth $18,431,000 after buying an additional 955,066 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Stock Performance

Broadstone Net Lease stock traded up $0.13 during trading on Monday, reaching $17.41. The company had a trading volume of 1,122,648 shares, compared to its average volume of 1,195,830. Broadstone Net Lease, Inc. has a 12-month low of $13.68 and a 12-month high of $17.63. The stock’s 50 day moving average price is $15.76 and its two-hundred day moving average price is $15.54. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 18.14 and a beta of 1.11.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $105.37 million during the quarter, compared to analysts’ expectations of $107.76 million. Broadstone Net Lease had a net margin of 42.23% and a return on equity of 5.60%. During the same period in the previous year, the company earned $0.34 EPS. As a group, research analysts expect that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current year.

Broadstone Net Lease Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.66%. This is an increase from Broadstone Net Lease’s previous quarterly dividend of $0.29. The ex-dividend date was Friday, June 28th. Broadstone Net Lease’s dividend payout ratio (DPR) is 120.83%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BNL shares. KeyCorp started coverage on shares of Broadstone Net Lease in a research note on Wednesday, June 12th. They set a “sector weight” rating on the stock. Wolfe Research restated a “peer perform” rating on shares of Broadstone Net Lease in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $16.75.

Broadstone Net Lease 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.