Employees Retirement System of Texas Acquires Shares of 175,000 Broadstone Net Lease, Inc. $BNL

Employees Retirement System of Texas bought a new position in Broadstone Net Lease, Inc. (NYSE:BNL) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 175,000 shares of the company’s stock, valued at approximately $2,809,000. Employees Retirement System of Texas owned approximately 0.09% of Broadstone Net Lease as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BNL. Wolff Wiese Magana LLC bought a new position in Broadstone Net Lease in the 2nd quarter worth approximately $45,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Broadstone Net Lease during the 1st quarter valued at $115,000. CWM LLC lifted 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 acquiring an additional 6,984 shares in the last quarter. EMC Capital Management purchased a new stake in shares of Broadstone Net Lease during the second quarter worth $127,000. Finally, Arrow Investment Advisors LLC bought a new position in shares of Broadstone Net Lease in the second quarter worth $172,000. Institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BNL shares. UBS Group boosted their price objective on Broadstone Net Lease from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Friday, August 15th. Truist Financial upped their price target on Broadstone Net Lease from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Tuesday. JMP Securities restated a “market outperform” rating and issued a $21.00 price objective on shares of Broadstone Net Lease in a research report on Monday, September 29th. KeyCorp raised shares of Broadstone Net Lease from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research note on Tuesday, August 19th. Finally, BTIG Research reiterated a “buy” rating and issued a $22.00 target price on shares of Broadstone Net Lease in a research note on Wednesday, October 1st. One research 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.11.

Broadstone Net Lease Trading Down 0.9%

Shares of NYSE BNL opened at $17.57 on Thursday. The business has a 50-day moving average of $18.26 and a 200-day moving average of $17.22. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 37.37 and a beta of 1.00. Broadstone Net Lease, Inc. has a 12 month low of $13.96 and a 12 month high of $18.87.

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

Broadstone Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a $0.29 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $1.16 annualized dividend and a yield of 6.6%. Broadstone Net Lease’s payout ratio is 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.