Elo Mutual Pension Insurance Co Makes New $280,000 Investment in Broadstone Net Lease, Inc. $BNL

Elo Mutual Pension Insurance Co acquired a new stake in Broadstone Net Lease, Inc. (NYSE:BNL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,471 shares of the company’s stock, valued at approximately $280,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in BNL. Wolff Wiese Magana LLC bought a new stake in Broadstone Net Lease in the 2nd quarter valued at $45,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Broadstone Net Lease during the first quarter worth $115,000. CWM LLC increased its holdings in shares of Broadstone Net Lease by 885.2% in the second quarter. CWM LLC now owns 7,773 shares of the company’s stock valued at $125,000 after purchasing an additional 6,984 shares during the last quarter. EMC Capital Management acquired a new position in shares of Broadstone Net Lease in the second quarter valued at $127,000. Finally, Arrow Investment Advisors LLC bought a new position in shares of Broadstone Net Lease in the second quarter valued at about $172,000. 89.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. BTIG Research reiterated a “buy” rating and issued a $22.00 price target on shares of Broadstone Net Lease in a research note on Wednesday, October 1st. Wall Street Zen raised Broadstone Net Lease from a “sell” rating to a “hold” rating in a research report on Sunday. Truist Financial lifted their price target on Broadstone Net Lease from $18.00 to $20.00 and gave the stock a “hold” rating in a report on Tuesday. UBS Group upped their price objective on Broadstone Net Lease from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, August 15th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Broadstone Net Lease in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Broadstone Net Lease presently has an average rating of “Moderate Buy” and a consensus price target of $20.11.

Broadstone Net Lease Stock Performance

BNL opened at $17.57 on Friday. Broadstone Net Lease, Inc. has a 52-week low of $13.96 and a 52-week high of $18.87. The firm has a market cap of $3.32 billion, a P/E ratio of 37.38 and a beta of 1.00. The business’s fifty day moving average is $18.23 and its 200-day moving average is $17.24.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.23). The firm had revenue of $114.17 million for the quarter, compared to the consensus estimate of $111.89 million. Broadstone Net Lease had a return on equity of 2.91% and a net margin of 20.04%. Broadstone Net Lease has set its FY 2025 guidance at 1.490-1.500 EPS. On average, research analysts predict that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a dividend of $0.29 per share. The ex-dividend date is Wednesday, December 31st. This represents a $1.16 annualized dividend and a dividend yield of 6.6%. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 246.81%.

About Broadstone Net Lease

Broadstone Net Lease, Inc (the Corporation) is a Maryland corporation formed on October 18, 2007, that elected to be taxed as a real estate investment trust (REIT) commencing with the taxable year ended December 31, 2008. Broadstone Net Lease, LLC (the Corporation’s operating company, or the OP), is the entity through which the Corporation conducts its business and owns (either directly or through subsidiaries) all of the Corporation’s properties.