U.S. Capital Wealth Advisors LLC Has $181,000 Position in Broadstone Net Lease, Inc. (NYSE:BNL)

U.S. Capital Wealth Advisors LLC lessened its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 32.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,529 shares of the company’s stock after selling 5,000 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Broadstone Net Lease were worth $181,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. New York State Teachers Retirement System raised its holdings in shares of Broadstone Net Lease by 8.4% during the third quarter. New York State Teachers Retirement System now owns 16,701 shares of the company’s stock worth $239,000 after acquiring an additional 1,294 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Broadstone Net Lease by 11.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 78,184 shares of the company’s stock worth $1,118,000 after purchasing an additional 8,300 shares in the last quarter. Advisor Partners II LLC acquired a new stake in shares of Broadstone Net Lease during the 3rd quarter valued at about $152,000. Perigon Wealth Management LLC grew its stake in shares of Broadstone Net Lease by 9.0% in the 3rd quarter. Perigon Wealth Management LLC now owns 80,858 shares of the company’s stock valued at $1,156,000 after buying an additional 6,691 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in Broadstone Net Lease by 21.9% in the third quarter. Teacher Retirement System of Texas now owns 137,370 shares of the company’s stock worth $1,964,000 after buying an additional 24,685 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling at Broadstone Net Lease

In related news, CFO Kevin Fennell acquired 4,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were bought at an average price of $14.63 per share, for a total transaction of $58,520.00. Following the acquisition, the chief financial officer now owns 63,556 shares in the company, valued at approximately $929,824.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Kevin Fennell acquired 4,000 shares of the stock in a transaction dated Monday, February 26th. The shares were acquired at an average cost of $14.63 per share, for a total transaction of $58,520.00. Following the completion of the transaction, the chief financial officer now owns 63,556 shares in the company, valued at approximately $929,824.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael A. Coke bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average price of $14.67 per share, with a total value of $146,700.00. Following the completion of the purchase, the director now directly owns 34,817 shares of the company’s stock, valued at approximately $510,765.39. The disclosure for this purchase can be found here. Insiders own 0.81% of the company’s stock.

Broadstone Net Lease Price Performance

Broadstone Net Lease stock opened at $15.01 on Thursday. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 15.64 and a beta of 1.10. The firm has a fifty day moving average price of $14.89 and a two-hundred day moving average price of $15.59. Broadstone Net Lease, Inc. has a fifty-two week low of $13.68 and a fifty-two week high of $17.59.

Broadstone Net Lease (NYSE:BNL) last announced its earnings results on Wednesday, May 1st. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. The firm had revenue of $105.37 million during the quarter, compared to the consensus estimate of $107.76 million. Broadstone Net Lease had a return on equity of 5.60% and a net margin of 42.23%. During the same quarter in the prior year, the company earned $0.34 EPS. As a group, sell-side analysts expect that Broadstone Net Lease, Inc. will post 1.38 earnings per share for the current year.

Broadstone Net Lease Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.29 per share. This is a boost from Broadstone Net Lease’s previous quarterly dividend of $0.29. This represents a $1.16 annualized dividend and a yield of 7.73%. The ex-dividend date is Friday, June 28th. Broadstone Net Lease’s dividend payout ratio is presently 118.75%.

Analyst Ratings Changes

A number of research firms have issued reports on BNL. 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 objective on shares of Broadstone Net Lease from $18.00 to $17.00 and set a “hold” rating for the company in a report on Tuesday, February 27th. The Goldman Sachs Group started coverage on Broadstone Net Lease in a report on Thursday, March 7th. They set a “sell” rating and a $14.00 target price on the stock. Finally, TheStreet downgraded 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 issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.