Bank of New York Mellon Corp Sells 29,066 Shares of Broadstone Net Lease, Inc. $BNL

Bank of New York Mellon Corp lessened its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 2.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,362,698 shares of the company’s stock after selling 29,066 shares during the period. Bank of New York Mellon Corp owned 0.71% of Broadstone Net Lease worth $24,896,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in BNL. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Broadstone Net Lease by 187.3% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 103,751 shares of the company’s stock valued at $1,802,000 after purchasing an additional 67,637 shares in the last quarter. Resonant Capital Advisors LLC bought a new position in shares of Broadstone Net Lease during the fourth quarter worth $514,000. Indivisible Partners acquired a new position in shares of Broadstone Net Lease in the 4th quarter valued at $1,465,000. Columbus Macro LLC grew its holdings in shares of Broadstone Net Lease by 10.0% in the 4th quarter. Columbus Macro LLC now owns 676,361 shares of the company’s stock valued at $11,748,000 after buying an additional 61,363 shares during the period. Finally, Prairiewood Capital LLC grew its holdings in shares of Broadstone Net Lease by 7.9% in the 4th quarter. Prairiewood Capital LLC now owns 393,547 shares of the company’s stock valued at $6,836,000 after buying an additional 28,689 shares during the period. Institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Price Performance

BNL opened at $22.42 on Tuesday. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of 34.50 and a beta of 0.94. The business’s 50-day moving average price is $21.15 and its two-hundred day moving average price is $19.88. Broadstone Net Lease, Inc. has a 1 year low of $15.77 and a 1 year high of $23.10.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.06. Broadstone Net Lease had a return on equity of 4.17% and a net margin of 27.01%.The company had revenue of $121.40 million during the quarter, compared to analysts’ expectations of $118.84 million. Broadstone Net Lease has set its FY 2026 guidance at 1.530-1.570 EPS. Sell-side analysts anticipate that Broadstone Net Lease, Inc. will post 1.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on BNL. Citigroup downgraded Broadstone Net Lease from a “market perform” rating to a “market perform” rating in a research note on Friday, June 12th. BMO Capital Markets boosted their target price on Broadstone Net Lease from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, July 10th. Cantor Fitzgerald increased their price target on Broadstone Net Lease from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Weiss Ratings raised Broadstone Net Lease from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Finally, Citizens Jmp cut Broadstone Net Lease from an “outperform” rating to a “market perform” rating in a report on Friday, June 12th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Broadstone Net Lease currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

About Broadstone Net Lease

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.