Norges Bank Takes Position in Broadstone Net Lease, Inc. $BNL

Norges Bank purchased a new stake in Broadstone Net Lease, Inc. (NYSE:BNL) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 2,387,491 shares of the company’s stock, valued at approximately $41,471,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. American Century Companies Inc. boosted its position in shares of Broadstone Net Lease by 0.9% during the second quarter. American Century Companies Inc. now owns 77,865 shares of the company’s stock worth $1,250,000 after buying an additional 664 shares during the period. Alps Advisors Inc. boosted its position in shares of Broadstone Net Lease by 4.7% during the third quarter. Alps Advisors Inc. now owns 16,574 shares of the company’s stock worth $296,000 after buying an additional 737 shares during the period. Lazard Asset Management LLC boosted its position in shares of Broadstone Net Lease by 0.9% during the second quarter. Lazard Asset Management LLC now owns 89,265 shares of the company’s stock worth $1,432,000 after buying an additional 768 shares during the period. Arizona State Retirement System boosted its position in shares of Broadstone Net Lease by 1.4% during the third quarter. Arizona State Retirement System now owns 55,951 shares of the company’s stock worth $1,000,000 after buying an additional 779 shares during the period. Finally, FJ Capital Management LLC boosted its position in shares of Broadstone Net Lease by 8.2% during the second quarter. FJ Capital Management LLC now owns 12,754 shares of the company’s stock worth $205,000 after buying an additional 965 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on BNL shares. Truist Financial set a $22.00 price objective on Broadstone Net Lease in a research report on Monday. UBS Group increased their target price on shares of Broadstone Net Lease from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, March 9th. Cantor Fitzgerald increased their target price on shares of Broadstone Net Lease from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Finally, Weiss Ratings upgraded shares of Broadstone Net Lease from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Broadstone Net Lease has a consensus rating of “Moderate Buy” and an average target price of $20.56.

Broadstone Net Lease Stock Performance

Shares of NYSE BNL opened at $20.65 on Tuesday. The stock has a 50 day moving average price of $19.85 and a 200 day moving average price of $18.92. Broadstone Net Lease, Inc. has a 52 week low of $15.66 and a 52 week high of $20.83. The stock has a market capitalization of $3.95 billion, a PE ratio of 31.76 and a beta of 0.95.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.24 EPS for the quarter, beating 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 firm 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. As a group, research analysts forecast that Broadstone Net Lease, Inc. will post 1.51 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.2925 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.17 dividend on an annualized basis and a yield of 5.7%. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 180.00%.

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.