Wellington Management Group LLP purchased a new stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,727,563 shares of the company’s stock, valued at approximately $35,709,000. Wellington Management Group LLP owned about 0.90% of Broadstone Net Lease as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BNL. CIBC Private Wealth Group LLC increased its holdings in shares of Broadstone Net Lease by 42.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,000 shares of the company’s stock worth $35,000 after buying an additional 600 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Broadstone Net Lease by 0.9% in the 2nd quarter. American Century Companies Inc. now owns 77,865 shares of the company’s stock worth $1,250,000 after acquiring an additional 664 shares in the last quarter. Lazard Asset Management LLC grew its position in Broadstone Net Lease by 0.9% during the 2nd quarter. Lazard Asset Management LLC now owns 89,265 shares of the company’s stock worth $1,432,000 after acquiring an additional 768 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in Broadstone Net Lease by 5.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 19,294 shares of the company’s stock worth $335,000 after acquiring an additional 944 shares during the last quarter. Finally, FJ Capital Management LLC increased its holdings in Broadstone Net Lease by 8.2% during the 2nd quarter. FJ Capital Management LLC now owns 12,754 shares of the company’s stock valued at $205,000 after purchasing an additional 965 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In related news, Director Richard Imperiale purchased 5,000 shares of the stock in a transaction dated Thursday, August 20th. The stock was bought at an average cost of $21.22 per share, with a total value of $106,100.00. Following the purchase, the director directly owned 26,250 shares in the company, valued at $557,025. The trade was a 23.53% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.02% of the company’s stock.
Broadstone Net Lease Stock Performance
Broadstone Net Lease (NYSE:BNL – Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. Broadstone Net Lease had a return on equity of 4.83% and a net margin of 30.61%.The company had revenue of $122.31 million for the quarter, compared to the consensus estimate of $121.63 million. Broadstone Net Lease has set its FY 2026 guidance at 1.550-1.570 EPS. As a group, sell-side analysts predict that Broadstone Net Lease, Inc. will post 1.53 earnings per share for the current fiscal year.
Broadstone Net Lease Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Wednesday, September 30th. Broadstone Net Lease’s payout ratio is presently 153.95%.
Analyst Ratings Changes
A number of equities analysts have commented on the company. Citigroup lowered Broadstone Net Lease from a “market perform” rating to a “market perform” rating in a research note on Friday, June 12th. Cantor Fitzgerald lifted their price target on Broadstone Net Lease from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, July 31st. BTIG Research upped their price target on shares of Broadstone Net Lease from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. KeyCorp upped their price target on shares of Broadstone Net Lease from $20.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Finally, BMO Capital Markets increased their price objective on shares of Broadstone Net Lease from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, July 10th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.78.
Check Out Our Latest Research Report on Broadstone Net Lease
Broadstone Net Lease Company Profile
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.
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