Tritonpoint Wealth LLC Increases Stock Position in Broadstone Net Lease, Inc. $BNL

Tritonpoint Wealth LLC raised its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 5.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 840,491 shares of the company’s stock after purchasing an additional 42,327 shares during the period. Broadstone Net Lease accounts for approximately 1.3% of Tritonpoint Wealth LLC’s holdings, making the stock its 13th biggest position. Tritonpoint Wealth LLC’s holdings in Broadstone Net Lease were worth $15,263,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Monument Capital Management purchased a new stake in shares of Broadstone Net Lease in the third quarter worth about $199,000. Prairiewood Capital LLC increased its stake in Broadstone Net Lease by 6.9% in the 3rd quarter. Prairiewood Capital LLC now owns 364,858 shares of the company’s stock worth $6,520,000 after acquiring an additional 23,524 shares during the last quarter. Brighton Jones LLC raised its holdings 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 worth $293,000 after acquiring an additional 2,039 shares in the last quarter. Corient Private Wealth LLC purchased a new stake in shares of Broadstone Net Lease during the 2nd quarter worth approximately $672,000. Finally, Orion Porfolio Solutions LLC bought a new position in shares of Broadstone Net Lease during the 2nd quarter valued at approximately $368,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

BNL has been the topic of several research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Broadstone Net Lease in a research report on Wednesday, October 8th. BTIG Research dropped their price objective on shares of Broadstone Net Lease from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, December 5th. Cantor Fitzgerald restated an “overweight” rating on shares of Broadstone Net Lease in a research report on Thursday, December 4th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Broadstone Net Lease in a report on Thursday, December 4th. Finally, Truist Financial boosted their price objective on Broadstone Net Lease from $18.00 to $20.00 and gave the stock a “hold” rating in a research note on Tuesday, November 25th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.10.

Broadstone Net Lease Trading Up 1.3%

Shares of BNL opened at $17.49 on Thursday. The company’s fifty day simple moving average is $17.95 and its 200-day simple moving average is $17.45. The company has a market cap of $3.31 billion, a P/E ratio of 37.21 and a beta of 1.03. Broadstone Net Lease, Inc. has a twelve month low of $13.96 and a twelve month high of $18.87.

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 analysts’ consensus estimates of $0.37 by ($0.23). The firm had revenue of $114.17 million during the quarter, compared to analysts’ expectations of $111.89 million. Broadstone Net Lease had a return on equity of 2.93% and a net margin of 20.04%.Broadstone Net Lease has set its FY 2025 guidance at 1.490-1.500 EPS. 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 6.6%. The ex-dividend date is Wednesday, December 31st. Broadstone Net Lease’s dividend payout ratio is presently 246.81%.

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.