Hsbc Holdings PLC Lowers Stock Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Hsbc Holdings PLC reduced its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 62.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 380,152 shares of the company’s stock after selling 636,610 shares during the period. Hsbc Holdings PLC owned 0.20% of Broadstone Net Lease worth $6,023,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Norges Bank bought a new position in Broadstone Net Lease in the fourth quarter worth approximately $36,180,000. V3 Capital Management L.P. bought a new position in shares of Broadstone Net Lease during the 1st quarter worth $20,747,000. Cbre Investment Management Listed Real Assets LLC increased its stake in shares of Broadstone Net Lease by 74.3% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,860,534 shares of the company’s stock valued at $49,258,000 after buying an additional 1,219,509 shares during the period. Lasalle Investment Management Securities LLC bought a new stake in shares of Broadstone Net Lease in the first quarter valued at about $18,226,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Broadstone Net Lease by 2,302.8% in the second quarter. Victory Capital Management Inc. now owns 1,073,735 shares of the company’s stock valued at $17,040,000 after acquiring an additional 1,029,048 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on BNL shares. KeyCorp initiated coverage on shares of Broadstone Net Lease in a research report on Wednesday, June 12th. They set a “sector weight” rating on the stock. The Goldman Sachs Group lifted their price objective on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, September 13th. Wedbush began coverage on Broadstone Net Lease in a report on Monday, August 19th. They set an “outperform” rating and a $20.00 target price for the company. Finally, Truist Financial increased their target price on Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $18.00.

Broadstone Net Lease Stock Up 1.0 %

Shares of BNL opened at $18.92 on Tuesday. The company has a 50 day moving average of $17.90 and a two-hundred day moving average of $16.18. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 19.71 and a beta of 1.11. Broadstone Net Lease, Inc. has a twelve month low of $13.68 and a twelve month high of $19.10.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). Broadstone Net Lease had a return on equity of 4.86% and a net margin of 36.78%. The business had revenue of $105.91 million during the quarter, compared to analyst estimates of $105.95 million. During the same period in the previous year, the business earned $0.35 EPS. On average, sell-side analysts expect that Broadstone Net Lease, Inc. will post 1.39 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 6.13%. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 120.83%.

Broadstone Net Lease 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.