Handelsbanken Fonder AB Purchases 4,700 Shares of Broadstone Net Lease, Inc. $BNL

Handelsbanken Fonder AB boosted its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 6.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,900 shares of the company’s stock after buying an additional 4,700 shares during the period. Handelsbanken Fonder AB’s holdings in Broadstone Net Lease were worth $1,170,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BNL. EMC Capital Management purchased a new stake in shares of Broadstone Net Lease during the 2nd quarter worth approximately $127,000. LSV Asset Management raised its stake in Broadstone Net Lease by 135.9% during the second quarter. LSV Asset Management now owns 976,200 shares of the company’s stock valued at $15,668,000 after purchasing an additional 562,400 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Broadstone Net Lease by 3.5% during the second quarter. Nomura Asset Management Co. Ltd. now owns 268,500 shares of the company’s stock valued at $4,309,000 after purchasing an additional 9,200 shares in the last quarter. Intech Investment Management LLC lifted its position in Broadstone Net Lease by 6.3% during the second quarter. Intech Investment Management LLC now owns 131,074 shares of the company’s stock valued at $2,104,000 after purchasing an additional 7,826 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of Broadstone Net Lease by 26.6% in the 2nd quarter. Cetera Investment Advisers now owns 539,431 shares of the company’s stock worth $8,658,000 after buying an additional 113,429 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Stock Performance

BNL opened at $17.57 on Friday. Broadstone Net Lease, Inc. has a one year low of $13.96 and a one year high of $18.87. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 37.37 and a beta of 1.00. The stock’s 50 day moving average price is $18.24 and its 200-day moving average price is $17.22.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $114.17 million for the quarter, compared to analysts’ expectations of $111.89 million. Broadstone Net Lease has set its FY 2025 guidance at 1.490-1.500 EPS. As a group, analysts predict that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 6.6%. The ex-dividend date of this dividend is Wednesday, December 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 246.81%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. KeyCorp raised shares of Broadstone Net Lease from a “sector weight” rating to an “overweight” rating and set a $20.00 price target for the company in a report on Tuesday, August 19th. BTIG Research restated a “buy” rating and set a $22.00 price objective on shares of Broadstone Net Lease in a research report on Wednesday, October 1st. Cantor Fitzgerald started coverage on Broadstone Net Lease in a research note on Wednesday, October 1st. They issued an “overweight” rating and a $21.00 price objective for the company. UBS Group boosted their target price on Broadstone Net Lease from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Friday, August 15th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Broadstone Net Lease in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.11.

Broadstone Net Lease Company Profile

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.