SG Americas Securities LLC Buys 63,056 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

SG Americas Securities LLC grew its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 110.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 120,371 shares of the company’s stock after acquiring an additional 63,056 shares during the quarter. SG Americas Securities LLC owned about 0.06% of Broadstone Net Lease worth $2,073,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in BNL. Bank of New York Mellon Corp grew its stake in Broadstone Net Lease by 3.5% in the first quarter. Bank of New York Mellon Corp now owns 1,070,969 shares of the company’s stock valued at $23,327,000 after purchasing an additional 36,452 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Broadstone Net Lease in the 1st quarter valued at about $478,000. MetLife Investment Management LLC grew its position in shares of Broadstone Net Lease by 56.0% in the 1st quarter. MetLife Investment Management LLC now owns 84,816 shares of the company’s stock worth $1,847,000 after buying an additional 30,458 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Broadstone Net Lease by 5.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 140,459 shares of the company’s stock worth $3,175,000 after acquiring an additional 7,051 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Broadstone Net Lease by 57.8% during the first quarter. Dimensional Fund Advisors LP now owns 35,252 shares of the company’s stock valued at $768,000 after acquiring an additional 12,911 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Broadstone Net Lease Price Performance

Shares of BNL stock opened at $15.45 on Thursday. The business has a fifty day moving average of $15.50 and a 200 day moving average of $15.60. Broadstone Net Lease, Inc. has a 1 year low of $13.68 and a 1 year high of $17.59. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 18.84 and a beta of 1.08.

Broadstone Net Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 7.38%. The ex-dividend date of this dividend is Wednesday, March 27th. Broadstone Net Lease’s dividend payout ratio (DPR) is 139.02%.

Analyst Upgrades and Downgrades

BNL has been the topic of several analyst reports. 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 target on the stock. TheStreet downgraded Broadstone Net Lease from a “b-” rating to a “c+” rating in a research note on Thursday, February 22nd. JPMorgan Chase & Co. upgraded Broadstone Net Lease from a “neutral” rating to an “overweight” rating and set a $19.00 price target for the company in a research note on Monday, December 18th. Finally, Truist Financial dropped their price target on Broadstone Net Lease from $18.00 to $17.00 and set a “hold” rating on the stock in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $16.75.

Insider Activity at Broadstone Net Lease

In other Broadstone Net Lease news, Director Michael A. Coke purchased 10,000 shares of Broadstone Net Lease stock in a transaction on Monday, February 26th. The stock was bought at an average cost of $14.67 per share, with a total value of $146,700.00. Following the transaction, the director now owns 34,817 shares of the company’s stock, valued at approximately $510,765.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Michael A. Coke acquired 10,000 shares of Broadstone Net Lease stock in a transaction on Monday, February 26th. The stock was acquired at an average price of $14.67 per share, for a total transaction of $146,700.00. Following the purchase, the director now owns 34,817 shares of the company’s stock, valued at approximately $510,765.39. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kevin Fennell bought 4,000 shares of the stock in a transaction dated Monday, February 26th. The stock was bought at an average price of $14.63 per share, for a total transaction of $58,520.00. Following the purchase, the chief financial officer now directly owns 63,556 shares of the company’s stock, valued at $929,824.28. The disclosure for this purchase can be found here. 0.84% of the stock is owned by insiders.

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.