Broadstone Net Lease, Inc. (NYSE:BNL – Get Free Report) hit a new 52-week low during trading on Friday . The company traded as low as $14.92 and last traded at $14.94, with a volume of 73843 shares changing hands. The stock had previously closed at $15.06.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on BNL. TheStreet upgraded Broadstone Net Lease from a “c+” rating to a “b” rating in a research note on Monday, September 18th. Truist Financial decreased their target price on Broadstone Net Lease from $19.00 to $18.00 in a research note on Wednesday, August 30th. Finally, JMP Securities began coverage on Broadstone Net Lease in a research note on Thursday. They set a “market perform” rating for the company. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.50.
Read Our Latest Stock Analysis on Broadstone Net Lease
Broadstone Net Lease Stock Performance
Broadstone Net Lease Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be given a $0.28 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.54%. Broadstone Net Lease’s dividend payout ratio is currently 125.84%.
Institutional Trading of Broadstone Net Lease
A number of hedge funds have recently modified their holdings of BNL. Bank of New York Mellon Corp lifted its position in shares of Broadstone Net Lease by 3.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,070,969 shares of the company’s stock worth $23,327,000 after acquiring an additional 36,452 shares during the period. Bank of Montreal Can bought a new stake in shares of Broadstone Net Lease in the 1st quarter worth approximately $478,000. MetLife Investment Management LLC lifted 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 acquiring an additional 30,458 shares during the period. Great West Life Assurance Co. Can lifted its position 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 buying an additional 7,051 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Broadstone Net Lease by 57.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 35,252 shares of the company’s stock worth $768,000 after buying an additional 12,911 shares during the period. Institutional investors own 77.42% of the company’s stock.
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 June 30, 2023, BNL's diversified portfolio consisted of 801 individual net leased commercial properties with 794 properties located in 44 U.S.
Featured Stories
- Five stocks we like better than Broadstone Net Lease
- Investing in Vaccines 101: How to Invest in Vaccine Stocks
- 3 Reasons This Sleeping Giant Is About To Wake Up
- Why Are Stock Sectors Important to Successful Investing?
- MarketBeat Week in Review – 9/18 – 9/22
- How to Invest in Small Cap Stocks
- 52-week Low Names To Tip The Upside Scale In Your Favor
Receive News & Ratings for Broadstone Net Lease Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadstone Net Lease and related companies with MarketBeat.com's FREE daily email newsletter.
