Zurcher Kantonalbank Increases Stake in Broadstone Net Lease, Inc.

Zurcher Kantonalbank Zurich Cantonalbank has significantly increased its investment in Broadstone Net Lease, Inc. (NYSE:BNL) by 44.8% during the fourth quarter. This increase was reflected in its recent Form 13F filing with the Securities and Exchange Commission (SEC), showing ownership of 97,960 shares after purchasing an additional 30,309 shares. The firm's stake in Broadstone is valued at approximately $1,554,000, constituting about 0.05% of the company's total shares.

Several other large investors have also altered their holdings in BNL. For example, Brookfield Corp ON acquired a new position in Broadstone Net Lease valued at $18,444,000 during the third quarter. Similarly, Wellington Management Group LLP added shares worth $12,574,000 in the same period. Additionally, Systematic Financial Management LP saw a massive 298.1% increase in its holdings, now owning 747,706 shares valued at $14,169,000 after acquiring 559,906 additional shares. Columbus Macro LLC entered the market with a new investment worth $6,269,000. Furthermore, Victory Capital Management Inc. increased its ownership by 35.5%, bringing its total to 1,454,507 shares valued at $27,563,000 after buying an extra 380,772 shares. Notably, institutional investors and hedge funds collectively hold 89.07% of Broadstone's stock.

Analyst Ratings

Recently, a number of research analysts provided insights on BNL shares. JMP Securities upgraded Broadstone Net Lease from a "market perform" rating to an "outperform" rating, assigning a price target of $21.00. Similarly, Citizens JMP raised their rating from "hold" to "strong-buy." Currently, the stock has mixed ratings: one analyst gives it a sell rating, four have a hold rating, two assigned a buy rating, and one rates it as a strong buy. According to MarketBeat.com, Broadstone Net Lease holds an average rating of "Hold" with a consensus price target of $18.60.

Broadstone Net Lease Price Performance

As of Tuesday, Broadstone Net Lease opened at $17.11. Over the past year, the stock reached a low of $14.21 and a high of $19.15. The 50-day moving average stands at $16.04, while the 200-day moving average is $17.06. The company boasts a market capitalization of $3.23 billion, a price-to-earnings (PE) ratio of 19.66, and a beta of 1.09.

Broadstone Net Lease (NYSE:BNL) recently reported its quarterly earnings on February 19, revealing earnings of $0.36 per share, surpassing the consensus of $0.20 by $0.16. The company's revenue was recorded at $112.13 million for the quarter, exceeding analysts' expectations of $109.80 million. Broadstone's return on equity stood at 5.10%, and it achieved a net margin of 37.62%. Looking ahead, analysts forecast that Broadstone Net Lease, Inc. will deliver an average of 1.43 earnings per share this year.

Dividend Information

The company has announced a quarterly dividend that is set to be distributed on Tuesday, April 15. Shareholders recorded by Monday, March 31, will receive a $0.29 dividend. The ex-dividend date for this payment is also March 31. This results in an annualized dividend of $1.16, which offers a dividend yield of 6.78%. Currently, Broadstone Net Lease has a payout ratio of 133.33%.

About Broadstone Net Lease

Broadstone Net Lease, Inc. is a Maryland corporation that has been structured as a real estate investment trust (REIT) since the taxable year ending December 31, 2008. The business operations are conducted primarily through its operating company, Broadstone Net Lease, LLC, which owns all of Broadstone's properties either directly or via subsidiaries.

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