Farther Finance Advisors LLC Has $669,000 Stock Position in Broadstone Net Lease, Inc. $BNL

Farther Finance Advisors LLC reduced its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 48.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 37,428 shares of the company’s stock after selling 35,247 shares during the quarter. Farther Finance Advisors LLC’s holdings in Broadstone Net Lease were worth $669,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of BNL. Prairiewood Capital LLC raised its stake in shares of Broadstone Net Lease by 6.9% during the third quarter. Prairiewood Capital LLC now owns 364,858 shares of the company’s stock worth $6,520,000 after buying an additional 23,524 shares during the last quarter. Brighton Jones LLC raised its position in shares of Broadstone Net Lease by 14.2% during the 3rd quarter. Brighton Jones LLC now owns 16,397 shares of the company’s stock valued at $293,000 after acquiring an additional 2,039 shares during the last quarter. Corient Private Wealth LLC acquired a new position in shares of Broadstone Net Lease in the 2nd quarter valued at $672,000. Orion Porfolio Solutions LLC bought a new position in shares of Broadstone Net Lease in the 2nd quarter worth $368,000. Finally, Thrivent Financial for Lutherans boosted its position in shares of Broadstone Net Lease by 3.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 574,710 shares of the company’s stock worth $9,224,000 after purchasing an additional 17,379 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Stock Performance

Shares of BNL stock opened at $17.56 on Wednesday. Broadstone Net Lease, Inc. has a 52 week low of $13.96 and a 52 week high of $18.87. The company’s 50 day moving average price is $17.86 and its two-hundred day moving average price is $17.49. The company has a market capitalization of $3.32 billion, a P/E ratio of 37.36 and a beta of 1.03.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings results 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). Broadstone Net Lease had a net margin of 20.04% and a return on equity of 2.93%. The company had revenue of $114.17 million during the quarter, compared to analyst estimates of $111.89 million. Broadstone Net Lease has set its FY 2025 guidance at 1.490-1.500 EPS. Analysts forecast that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a $0.29 dividend. The ex-dividend date of this dividend 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%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Broadstone Net Lease in a report on Wednesday, October 8th. Truist Financial increased their price target on shares of Broadstone Net Lease from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Tuesday, November 25th. Wall Street Zen upgraded shares of Broadstone Net Lease from a “sell” rating to a “hold” rating in a report on Sunday, November 30th. Morgan Stanley increased their target price on shares of Broadstone Net Lease from $18.00 to $19.00 and gave the stock a “positive” rating in a report on Monday. Finally, JMP Securities reissued a “market outperform” rating and issued a $21.00 price target on shares of Broadstone Net Lease in a report on Monday, September 29th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Broadstone Net Lease has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Broadstone Net Lease Profile

Broadstone Net Lease, Inc (NYSE: BNL) is a publicly traded real estate investment trust focused on owning and operating single-tenant commercial properties under long-term net leases. The company specializes in acquiring properties that are leased to creditworthy tenants, allowing it to generate predictable, stable rental income while transferring most operating expenses and responsibilities to its lessees.

Broadstone Net Lease’s portfolio spans a variety of property types, including industrial facilities, distribution centers, manufacturing plants, life science and office buildings, and essential retail locations.