New England Private Wealth Advisors LLC Has $32.76 Million Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

New England Private Wealth Advisors LLC lowered its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 7.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,902,283 shares of the company’s stock after selling 152,166 shares during the quarter. Broadstone Net Lease makes up approximately 6.0% of New England Private Wealth Advisors LLC’s investment portfolio, making the stock its 3rd largest position. New England Private Wealth Advisors LLC owned 1.02% of Broadstone Net Lease worth $32,757,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Victory Capital Management Inc. raised its holdings in Broadstone Net Lease by 1.8% in the 3rd quarter. Victory Capital Management Inc. now owns 39,179 shares of the company’s stock valued at $560,000 after buying an additional 689 shares during the last quarter. Handelsbanken Fonder AB grew its position in Broadstone Net Lease by 2.4% in the 4th quarter. Handelsbanken Fonder AB now owns 29,900 shares of the company’s stock valued at $515,000 after purchasing an additional 700 shares during the period. Arizona State Retirement System grew its position in Broadstone Net Lease by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 53,302 shares of the company’s stock valued at $762,000 after purchasing an additional 720 shares during the period. Van ECK Associates Corp grew its position in Broadstone Net Lease by 4.3% in the 3rd quarter. Van ECK Associates Corp now owns 22,018 shares of the company’s stock valued at $315,000 after purchasing an additional 912 shares during the period. Finally, Perigon Wealth Management LLC grew its position in Broadstone Net Lease by 1.1% in the 4th quarter. Perigon Wealth Management LLC now owns 81,773 shares of the company’s stock valued at $1,408,000 after purchasing an additional 915 shares during the period. Institutional investors own 89.07% of the company’s stock.

Insider Activity at Broadstone Net Lease

In other Broadstone Net Lease news, CFO Kevin Fennell bought 4,000 shares of Broadstone Net Lease stock in a transaction dated Monday, February 26th. The stock was purchased at an average price of $14.63 per share, for a total transaction of $58,520.00. Following the completion of the purchase, the chief financial officer now directly owns 63,556 shares of the company’s stock, valued at $929,824.28. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Michael A. Coke purchased 10,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was purchased at an average cost of $14.67 per share, with a total value of $146,700.00. Following the completion of the acquisition, the director now directly owns 34,817 shares of the company’s stock, valued at $510,765.39. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevin Fennell purchased 4,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was bought at an average cost of $14.63 per share, with a total value of $58,520.00. Following the completion of the acquisition, 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. 0.62% of the stock is currently owned by company insiders.

Broadstone Net Lease Price Performance

Shares of NYSE BNL traded down $0.01 during mid-day trading on Friday, reaching $14.34. 863,396 shares of the company’s stock were exchanged, compared to its average volume of 1,267,809. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 17.48 and a beta of 1.09. Broadstone Net Lease, Inc. has a 52 week low of $13.68 and a 52 week high of $17.59. The firm has a 50-day moving average price of $14.90 and a two-hundred day moving average price of $15.56.

Broadstone Net Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 7.95%. The ex-dividend date was Wednesday, March 27th. Broadstone Net Lease’s payout ratio is 139.02%.

Wall Street Analyst Weigh In

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

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.