Bank of Montreal Can Buys 9,997 Shares of Broadstone Net Lease, Inc. $BNL

Bank of Montreal Can grew its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,210,630 shares of the company’s stock after purchasing an additional 9,997 shares during the period. Bank of Montreal Can owned approximately 0.64% of Broadstone Net Lease worth $19,564,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Wolff Wiese Magana LLC acquired a new position in Broadstone Net Lease during the 2nd quarter worth approximately $45,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Broadstone Net Lease during the first quarter valued at approximately $115,000. CWM LLC raised its position in shares of Broadstone Net Lease by 885.2% during the second quarter. CWM LLC now owns 7,773 shares of the company’s stock worth $125,000 after purchasing an additional 6,984 shares during the period. Arrow Investment Advisors LLC bought a new position in shares of Broadstone Net Lease in the 2nd quarter worth $172,000. Finally, FJ Capital Management LLC bought a new position in shares of Broadstone Net Lease in the 1st quarter worth $201,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Broadstone Net Lease from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. JMP Securities restated a “market outperform” rating and issued a $21.00 target price on shares of Broadstone Net Lease in a report on Monday, September 29th. Cantor Fitzgerald assumed coverage on shares of Broadstone Net Lease in a research report on Wednesday, October 1st. They issued an “overweight” rating and a $21.00 price target on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Broadstone Net Lease in a report on Wednesday, October 8th. Finally, UBS Group raised their target price on Broadstone Net Lease from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given 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 price target of $19.89.

Broadstone Net Lease Stock Performance

Shares of BNL stock opened at $18.13 on Friday. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 38.56 and a beta of 1.00. Broadstone Net Lease, Inc. has a 52-week low of $13.96 and a 52-week high of $18.87. The company has a 50-day simple moving average of $18.38 and a two-hundred day simple moving average of $17.03.

Broadstone Net Lease (NYSE:BNL) last announced its earnings results on Wednesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.23). The business had revenue of $114.17 million during the quarter, compared to analysts’ expectations of $111.89 million. Broadstone Net Lease had a return on equity of 2.91% and a net margin of 20.04%. Broadstone Net Lease has set its FY 2025 guidance at 1.490-1.500 EPS. On average, sell-side analysts forecast that Broadstone Net Lease, Inc. will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be given a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.16 annualized dividend and a yield of 6.4%. Broadstone Net Lease’s payout ratio is currently 246.81%.

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.