Columbus Macro LLC grew its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL – Free Report) by 5.0% in the third quarter, HoldingsChannel.com reports. The fund owned 836,598 shares of the company’s stock after acquiring an additional 39,657 shares during the quarter. Broadstone Net Lease accounts for 1.5% of Columbus Macro LLC’s holdings, making the stock its 13th biggest position. Columbus Macro LLC’s holdings in Broadstone Net Lease were worth $15,477,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently bought and sold shares of BNL. Canandaigua National Trust Co of Florida acquired a new position in shares of Broadstone Net Lease in the 3rd quarter valued at about $1,226,000. QRG Capital Management Inc. grew its stake in Broadstone Net Lease by 3.3% during the second quarter. QRG Capital Management Inc. now owns 19,899 shares of the company’s stock worth $411,000 after purchasing an additional 639 shares during the period. Engineers Gate Manager LP acquired a new stake in Broadstone Net Lease during the second quarter worth approximately $1,479,000. NewEdge Advisors LLC acquired a new stake in Broadstone Net Lease during the second quarter worth approximately $499,000. Finally, Arizona State Retirement System increased its holdings in Broadstone Net Lease by 1.7% in the second quarter. Arizona State Retirement System now owns 52,865 shares of the company’s stock worth $1,093,000 after purchasing an additional 865 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on the company. Truist Financial raised Broadstone Net Lease from a “hold” rating to a “buy” rating and dropped their price target for the company from $22.00 to $21.00 in a research note on Thursday, October 1st. KeyCorp restated an “overweight” rating on shares of Broadstone Net Lease in a report on Tuesday, September 15th. BTIG Research increased their price target on Broadstone Net Lease from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, June 26th. The Goldman Sachs Group raised their price objective on shares of Broadstone Net Lease from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Saturday, August 1st. Finally, BMO Capital Markets raised their price objective on shares of Broadstone Net Lease from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, July 10th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.67.
Broadstone Net Lease Stock Down 1.8%
NYSE:BNL traded down $0.33 during trading hours on Wednesday, reaching $18.00. The company had a trading volume of 2,324,618 shares, compared to its average volume of 2,156,240. Broadstone Net Lease, Inc. has a twelve month low of $17.16 and a twelve month high of $23.10. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 23.68 and a beta of 0.91. The business’s 50-day simple moving average is $20.05 and its two-hundred day simple moving average is $20.39.
Broadstone Net Lease (NYSE:BNL – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.02. Broadstone Net Lease had a net margin of 30.61% and a return on equity of 4.83%. The firm had revenue of $122.31 million for the quarter, compared to analyst estimates of $121.63 million. Broadstone Net Lease has set its FY 2026 guidance at 1.550-1.570 EPS. As a group, equities analysts predict that Broadstone Net Lease, Inc. will post 1.51 earnings per share for the current year.
Broadstone Net Lease Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $0.2925 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.17 annualized dividend and a dividend yield of 6.5%. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 153.95%.
Insider Buying and Selling
In other news, Director Richard Imperiale bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was acquired at an average cost of $21.22 per share, with a total value of $106,100.00. Following the transaction, the director directly owned 26,250 shares of the company’s stock, valued at approximately $557,025. This represents a 23.53% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.02% of the stock is owned by insiders.
About Broadstone Net Lease
Broadstone Net Lease, Inc is a real estate investment trust (REIT) that owns and manages a diversified portfolio of single-tenant commercial properties. The company primarily invests in properties subject to long-term, triple-net leases, under which tenants generally are responsible for property taxes, insurance and maintenance costs.
Broadstone’s portfolio includes industrial, healthcare, restaurant and other commercial properties leased to tenants across a range of industries. Its business activities include acquiring, owning, leasing and managing income-producing real estate, with an emphasis on properties that can provide stable rental income over extended lease terms.
Founded in 2007, Broadstone Net Lease completed its initial public offering in 2020.
Read More
- Five stocks we like better than Broadstone Net Lease
- Tesla Wants to Make Its Own Chips—What Could Go Wrong?
- IREN Limited’s AI Pivot Gains Traction—But Can Its Data Centers Deliver?
- PBF Energy’s Stunning Rally Faces a Critical Test
- Citi Stock Falls Despite Earnings Beat: What Investors Need to Know
Want to see what other hedge funds are holding BNL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadstone Net Lease, Inc. (NYSE:BNL – Free Report).
Receive News & Ratings for Broadstone Net Lease Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadstone Net Lease and related companies with MarketBeat.com's FREE daily email newsletter.
