Broadstone Net Lease, Inc. $BNL Shares Sold by Citigroup Inc.

Citigroup Inc. cut its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 42.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 240,303 shares of the company’s stock after selling 179,524 shares during the quarter. Citigroup Inc. owned about 0.13% of Broadstone Net Lease worth $4,294,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. grew its holdings in shares of Broadstone Net Lease by 96.9% in the third quarter. Blue Trust Inc. now owns 1,790 shares of the company’s stock valued at $32,000 after purchasing an additional 881 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Broadstone Net Lease by 80.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,261 shares of the company’s stock valued at $68,000 after purchasing an additional 1,906 shares during the last quarter. Covestor Ltd grew its stake in shares of Broadstone Net Lease by 15.2% in the 3rd quarter. Covestor Ltd now owns 5,928 shares of the company’s stock valued at $106,000 after buying an additional 781 shares during the period. EMC Capital Management acquired a new stake in shares of Broadstone Net Lease during the 2nd quarter worth approximately $127,000. Finally, Monument Capital Management acquired a new stake in shares of Broadstone Net Lease during the 3rd quarter worth approximately $199,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Trading Down 0.9%

BNL stock opened at $18.90 on Thursday. The business’s fifty day moving average price is $18.61 and its 200 day moving average price is $18.28. Broadstone Net Lease, Inc. has a 12-month low of $13.96 and a 12-month high of $19.91. The company has a market capitalization of $3.62 billion, a PE ratio of 37.80 and a beta of 0.99.

Broadstone Net Lease (NYSE:BNL) last released its earnings results on Wednesday, February 18th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.20). Broadstone Net Lease had a net margin of 21.25% and a return on equity of 3.17%. Broadstone Net Lease has set its FY 2026 guidance at 1.530-1.57 EPS. Research analysts predict that Broadstone Net Lease, Inc. will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.2925 per share. This is a boost from Broadstone Net Lease’s previous quarterly dividend of $0.29. The ex-dividend date is Tuesday, March 31st. This represents a $1.17 dividend on an annualized basis and a yield of 6.2%. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 232.00%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BNL shares. Cantor Fitzgerald upped their price objective on Broadstone Net Lease from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday, February 24th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Broadstone Net Lease in a research note on Thursday, December 4th. Wall Street Zen upgraded Broadstone Net Lease from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Truist Financial boosted their price objective on shares of Broadstone Net Lease from $18.00 to $20.00 and gave the company a “hold” rating in a report on Tuesday, November 25th. Finally, BTIG Research lowered their target price 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. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Broadstone Net Lease currently has an average rating of “Moderate Buy” and a consensus target price of $19.90.

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.