Boston Partners Increases Holdings in Broadstone Net Lease, Inc. $BNL

Boston Partners lifted its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 339.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,079,251 shares of the company’s stock after purchasing an additional 1,605,603 shares during the period. Boston Partners owned about 1.10% of Broadstone Net Lease worth $33,372,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BNL. Jane Street Group LLC raised its position in Broadstone Net Lease by 292.3% in the first quarter. Jane Street Group LLC now owns 553,738 shares of the company’s stock worth $9,436,000 after acquiring an additional 412,604 shares during the period. LPL Financial LLC grew its position in shares of Broadstone Net Lease by 17.1% during the 1st quarter. LPL Financial LLC now owns 131,654 shares of the company’s stock valued at $2,243,000 after acquiring an additional 19,190 shares during the period. Vanguard Group Inc. increased its stake in shares of Broadstone Net Lease by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 27,711,994 shares of the company’s stock worth $472,212,000 after purchasing an additional 266,900 shares during the last quarter. Canandaigua National Trust Co of Florida bought a new stake in shares of Broadstone Net Lease in the 2nd quarter worth approximately $965,000. Finally, Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Broadstone Net Lease in the 1st quarter worth approximately $4,870,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Broadstone Net Lease Stock Down 0.9%

BNL stock opened at $17.57 on Friday. The stock has a 50-day simple moving average of $18.24 and a two-hundred day simple moving average of $17.22. Broadstone Net Lease, Inc. has a twelve month low of $13.96 and a twelve month high of $18.87. The firm has a market capitalization of $3.32 billion, a PE ratio of 37.37 and a beta of 1.00.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.14 EPS 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 the consensus estimate of $111.89 million. Broadstone Net Lease had a net margin of 20.04% and a return on equity of 2.91%. Broadstone Net Lease has set its FY 2025 guidance at 1.490-1.500 EPS. On average, equities research analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

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

Analysts Set New Price Targets

BNL has been the subject of several research reports. Truist Financial increased their price objective on Broadstone Net Lease from $18.00 to $20.00 and gave the company a “hold” rating in a report on Tuesday. KeyCorp raised Broadstone Net Lease from a “sector weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a research report on Tuesday, August 19th. Wall Street Zen lowered Broadstone Net Lease from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. UBS Group upped their price objective on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, August 15th. Finally, Cantor Fitzgerald assumed coverage on shares of Broadstone Net Lease in a research report on Wednesday, October 1st. They set an “overweight” rating and a $21.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.11.

Broadstone Net Lease Company Profile

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.