Sargent Investment Group LLC Has $1.34 Million Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Sargent Investment Group LLC cut its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 7.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 77,775 shares of the company’s stock after selling 5,845 shares during the period. Sargent Investment Group LLC’s holdings in Broadstone Net Lease were worth $1,339,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tritonpoint Wealth LLC acquired a new position in Broadstone Net Lease in the 4th quarter worth $29,582,000. Prime Capital Investment Advisors LLC acquired a new position in Broadstone Net Lease in the 4th quarter worth $10,074,000. Invesco Ltd. boosted its stake in Broadstone Net Lease by 11.9% in the 3rd quarter. Invesco Ltd. now owns 799,846 shares of the company’s stock worth $11,438,000 after purchasing an additional 84,801 shares during the period. Dark Forest Capital Management LP boosted its stake in Broadstone Net Lease by 254.6% in the 3rd quarter. Dark Forest Capital Management LP now owns 161,880 shares of the company’s stock worth $2,315,000 after purchasing an additional 116,225 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Broadstone Net Lease in the 3rd quarter worth $2,989,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BNL. Truist Financial reduced their target price on shares of Broadstone Net Lease from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Tuesday, February 27th. TheStreet cut shares of Broadstone Net Lease from a “b-” rating to a “c+” rating in a research report on Thursday, February 22nd. The Goldman Sachs Group initiated coverage on shares of Broadstone Net Lease in a research report on Thursday, March 7th. They set a “sell” rating and a $14.00 price target on the stock. Finally, Wolfe Research reissued a “peer perform” rating on shares of Broadstone Net Lease in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $16.75.

Broadstone Net Lease Stock Down 0.1 %

Shares of BNL stock traded down $0.02 on Friday, reaching $14.33. The stock had a trading volume of 863,403 shares, compared to its average volume of 1,023,648. The firm’s 50-day moving average is $14.90 and its two-hundred day moving average is $15.57. 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 12 month low of $13.68 and a 12 month high of $17.59.

Broadstone Net Lease Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a $0.285 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 7.96%. Broadstone Net Lease’s payout ratio is 139.03%.

Insider Activity

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

Broadstone Net Lease Company Profile

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.