Broadstone Net Lease, Inc. $BNL Stock Position Raised by Franklin Resources Inc.

Franklin Resources Inc. lifted its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 14.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 649,748 shares of the company’s stock after purchasing an additional 82,779 shares during the period. Franklin Resources Inc. owned approximately 0.34% of Broadstone Net Lease worth $10,428,000 at the end of the most recent quarter.

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

Broadstone Net Lease Stock Up 0.1%

BNL stock opened at $17.57 on Friday. The firm has a 50 day moving average of $18.23 and a two-hundred day moving average of $17.24. Broadstone Net Lease, Inc. has a 12 month low of $13.96 and a 12 month high of $18.87. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 37.38 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.23). The business had revenue of $114.17 million during the quarter, compared to analyst estimates 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, research analysts expect that Broadstone Net Lease, Inc. will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.29 per share. 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 246.81%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BNL shares. Wall Street Zen upgraded Broadstone Net Lease from a “sell” rating to a “hold” rating in a report on Sunday. JMP Securities reiterated a “market outperform” rating and issued a $21.00 price objective on shares of Broadstone Net Lease in a research note on Monday, September 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Broadstone Net Lease in a research note on Wednesday, October 8th. The Goldman Sachs Group raised shares of Broadstone Net Lease from a “sell” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Thursday, August 21st. Finally, KeyCorp upgraded Broadstone Net Lease from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a report on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Broadstone Net Lease currently has an average rating of “Moderate Buy” and an average target price of $20.11.

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.