Broadstone Net Lease, Inc. (NYSE:BNL) Shares Bought by Victory Capital Management Inc.

Posted by Defense World Staff on Nov 3rd, 2023

Victory Capital Management Inc. boosted its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL – Free Report) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,490 shares of the company’s stock after acquiring an additional 727 shares during the period. Victory Capital Management Inc.’s holdings in Broadstone Net Lease were worth $594,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Broadstone Net Lease by 67.8% during the second quarter. FMR LLC now owns 1,903 shares of the company’s stock worth $39,000 after buying an additional 769 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Broadstone Net Lease by 448.0% during the first quarter. Tower Research Capital LLC TRC now owns 6,362 shares of the company’s stock worth $108,000 after buying an additional 5,201 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Broadstone Net Lease by 89.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 8,835 shares of the company’s stock worth $136,000 after buying an additional 4,168 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Broadstone Net Lease by 11.9% during the first quarter. Mackenzie Financial Corp now owns 9,778 shares of the company’s stock worth $213,000 after buying an additional 1,038 shares in the last quarter. Finally, State of Wyoming purchased a new stake in shares of Broadstone Net Lease during the fourth quarter worth about $161,000. Institutional investors and hedge funds own 77.42% of the company’s stock.

Broadstone Net Lease Stock Up 1.9 %

BNL opened at $14.36 on Friday. Broadstone Net Lease, Inc. has a 52-week low of $13.68 and a 52-week high of $18.54. The company has a 50 day moving average of $15.03 and a two-hundred day moving average of $15.69. The company has a market cap of $2.69 billion, a P/E ratio of 16.14 and a beta of 1.09.

Broadstone Net Lease Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.285 per share. This is an increase from Broadstone Net Lease’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 7.94%. The ex-dividend date is Thursday, December 28th. Broadstone Net Lease’s payout ratio is currently 125.84%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Truist Financial lowered their price target on shares of Broadstone Net Lease from $19.00 to $18.00 in a report on Wednesday, August 30th. Wolfe Research upgraded shares of Broadstone Net Lease from a “peer perform” rating to an “outperform” rating and set a $17.00 target price for the company in a report on Wednesday, October 18th. JMP Securities initiated coverage on shares of Broadstone Net Lease in a report on Thursday, September 21st. They issued a “market perform” rating for the company. Finally, TheStreet downgraded shares of Broadstone Net Lease from a “b-” rating to a “c+” rating in a report on Friday, October 20th.

View Our Latest Stock Report on Broadstone Net Lease

Broadstone Net Lease Company Profile

(Free Report)

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.