Greenland Capital Management LP Takes Position in Broadstone Net Lease, Inc. $BNL

Greenland Capital Management LP bought a new stake in Broadstone Net Lease, Inc. (NYSE:BNL) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 50,000 shares of the company’s stock, valued at approximately $1,034,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in Broadstone Net Lease during the second quarter worth $999,000. EP Wealth Advisors LLC acquired a new stake in shares of Broadstone Net Lease during the 2nd quarter valued at about $245,000. Ieq Capital LLC acquired a new stake in shares of Broadstone Net Lease during the 2nd quarter valued at about $406,000. Fund Advisors of America Inc FL purchased a new position in shares of Broadstone Net Lease in the 2nd quarter valued at about $362,000. Finally, Allworth Financial LP purchased a new position in shares of Broadstone Net Lease in the 2nd quarter valued at about $34,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Broadstone Net Lease Stock Down 0.6%

BNL stock opened at $21.08 on Friday. Broadstone Net Lease, Inc. has a 52 week low of $17.16 and a 52 week high of $23.10. The firm has a 50-day simple moving average of $21.43 and a 200-day simple moving average of $20.25. The stock has a market capitalization of $4.05 billion, a P/E ratio of 27.74 and a beta of 0.92.

Broadstone Net Lease (NYSE:BNL) last issued 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 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. On average, analysts expect that Broadstone Net Lease, Inc. will post 1.53 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. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.2925 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 5.6%. Broadstone Net Lease’s dividend payout ratio is presently 153.95%.

Analysts Set New Price Targets

A number of research firms recently weighed in on BNL. Cantor Fitzgerald upped their price target on Broadstone Net Lease from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Truist Financial set a $22.00 price objective on Broadstone Net Lease in a research report on Monday, June 8th. Citizens Jmp downgraded Broadstone Net Lease from an “outperform” rating to a “market perform” rating in a research note on Friday, June 12th. The Goldman Sachs Group increased their target price on Broadstone Net Lease from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Broadstone Net Lease in a research note on Friday, July 31st. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Broadstone Net Lease presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.78.

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.