Strs Ohio Lowers Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Strs Ohio trimmed its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 38,400 shares of the company’s stock after selling 1,000 shares during the quarter. Strs Ohio’s holdings in Broadstone Net Lease were worth $661,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in BNL. Castleview Partners LLC purchased a new stake in Broadstone Net Lease in the third quarter valued at $36,000. Covestor Ltd boosted its stake in shares of Broadstone Net Lease by 123.1% during the 3rd quarter. Covestor Ltd now owns 5,167 shares of the company’s stock worth $74,000 after acquiring an additional 2,851 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in shares of Broadstone Net Lease during the 4th quarter worth about $86,000. Evergreen Capital Management LLC purchased a new stake in shares of Broadstone Net Lease during the 3rd quarter worth about $147,000. Finally, Advisor Partners II LLC purchased a new stake in shares of Broadstone Net Lease during the 3rd quarter worth about $152,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Truist Financial lowered their target price on shares of 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. The Goldman Sachs Group began coverage on shares of Broadstone Net Lease in a research note on Thursday, March 7th. They set a “sell” rating and a $14.00 target price on the stock. Wolfe Research restated a “peer perform” rating on shares of Broadstone Net Lease in a research report on Tuesday, April 9th. Finally, TheStreet downgraded shares of Broadstone Net Lease from a “b-” rating to a “c+” rating in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $16.75.

Broadstone Net Lease Trading Down 0.7 %

BNL stock opened at $14.35 on Friday. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 17.49 and a beta of 1.09. Broadstone Net Lease, Inc. has a 12 month low of $13.68 and a 12 month high of $17.59. The firm has a 50-day moving average of $14.96 and a two-hundred day moving average of $15.57.

Broadstone Net Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued 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 yield of 7.95%. Broadstone Net Lease’s payout ratio is 139.03%.

Insider Buying and Selling at Broadstone Net Lease

In other Broadstone Net Lease news, Director Michael A. Coke acquired 10,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was bought at an average price of $14.67 per share, for a total transaction of $146,700.00. Following the acquisition, the director now owns 34,817 shares in the company, valued at $510,765.39. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Broadstone Net Lease news, Director Michael A. Coke acquired 10,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was bought at an average price of $14.67 per share, for a total transaction of $146,700.00. Following the acquisition, the director now owns 34,817 shares in the company, valued at $510,765.39. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin Fennell acquired 4,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was acquired at an average price of $14.63 per share, with a total value 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 disclosure for this purchase can be found here. 0.62% 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.