Legal & General Group Plc Makes New $24.54 Million Investment in Broadstone Net Lease, Inc. $BNL

Legal & General Group Plc bought a new stake in Broadstone Net Lease, Inc. (NYSE:BNL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,187,067 shares of the company’s stock, valued at approximately $24,537,000. Legal & General Group Plc owned approximately 0.62% of Broadstone Net Lease as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. CIBC Private Wealth Group LLC lifted its holdings in 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 acquiring an additional 600 shares during the period. American Century Companies Inc. increased its position in shares of Broadstone Net Lease by 0.9% during the 2nd quarter. American Century Companies Inc. now owns 77,865 shares of the company’s stock valued at $1,250,000 after purchasing an additional 664 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of 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 purchasing an additional 768 shares during the period. Rockefeller Capital Management L.P. raised its stake in shares of 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 purchasing an additional 944 shares during the period. Finally, FJ Capital Management LLC boosted its holdings in shares of Broadstone Net Lease by 8.2% in the 2nd 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 last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Richard P. Imperiale purchased 5,000 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was purchased at an average cost of $21.22 per share, with a total value of $106,100.00. Following the completion of the acquisition, the director directly owned 26,250 shares of the company’s stock, valued at approximately $557,025. The trade was a 23.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 1.02% of the stock is currently owned by corporate insiders.

Broadstone Net Lease Price Performance

NYSE BNL opened at $21.13 on Friday. The company has a market cap of $4.05 billion, a PE ratio of 27.80 and a beta of 0.92. Broadstone Net Lease, Inc. has a 52 week low of $17.16 and a 52 week high of $23.10. The firm’s 50-day simple moving average is $21.49 and its two-hundred day simple moving average is $20.33.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. The company had revenue of $122.31 million for the quarter, compared to analyst estimates of $121.63 million. Broadstone Net Lease had a net margin of 30.61% and a return on equity of 4.83%. Broadstone Net Lease has set its FY 2026 guidance at 1.550-1.570 EPS. As a group, equities research analysts anticipate that Broadstone Net Lease, Inc. will post 1.53 EPS for the current year.

Broadstone Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.2925 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.17 annualized dividend and a dividend yield of 5.5%. Broadstone Net Lease’s dividend payout ratio is currently 153.95%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BNL shares. KeyCorp increased their price target on shares of Broadstone Net Lease from $20.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. BMO Capital Markets lifted 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. Truist Financial set a $22.00 target price on shares of Broadstone Net Lease in a research note on Monday, June 8th. Cantor Fitzgerald increased their target price on shares of Broadstone Net Lease from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Finally, The Goldman Sachs Group raised their price target on shares of Broadstone Net Lease from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Saturday, August 1st. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.78.

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.