Meritage Portfolio Management Sells 368,623 Shares of Broadstone Net Lease, Inc. $BNL

Meritage Portfolio Management lowered its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 95.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,205 shares of the company’s stock after selling 368,623 shares during the quarter. Meritage Portfolio Management’s holdings in Broadstone Net Lease were worth $307,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Franklin Resources Inc. increased its stake in Broadstone Net Lease by 14.6% during the second quarter. Franklin Resources Inc. now owns 649,748 shares of the company’s stock valued at $10,428,000 after acquiring an additional 82,779 shares during the period. Columbus Macro LLC lifted its position in shares of Broadstone Net Lease by 13.0% in the 3rd quarter. Columbus Macro LLC now owns 614,998 shares of the company’s stock worth $10,990,000 after acquiring an additional 70,823 shares during the period. BTC Capital Management Inc. grew its holdings in shares of Broadstone Net Lease by 9.9% during the 2nd quarter. BTC Capital Management Inc. now owns 158,289 shares of the company’s stock worth $2,505,000 after purchasing an additional 14,318 shares in the last quarter. Boston Partners increased its position in shares of Broadstone Net Lease by 339.0% during the second quarter. Boston Partners now owns 2,079,251 shares of the company’s stock valued at $33,372,000 after purchasing an additional 1,605,603 shares during the period. Finally, Asset Management One Co. Ltd. raised its stake in shares of Broadstone Net Lease by 0.4% in the second quarter. Asset Management One Co. Ltd. now owns 374,475 shares of the company’s stock valued at $6,010,000 after purchasing an additional 1,381 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Broadstone Net Lease Stock Up 0.9%

Shares of BNL stock opened at $18.71 on Friday. Broadstone Net Lease, Inc. has a 12-month low of $13.96 and a 12-month high of $18.87. The company has a market capitalization of $3.54 billion, a P/E ratio of 39.80 and a beta of 1.01. The firm has a 50-day moving average price of $17.79 and a 200 day moving average price of $17.63.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.23). The firm had revenue of $114.17 million for the quarter, compared to the consensus estimate of $111.89 million. Broadstone Net Lease had a return on equity of 2.93% and a net margin of 20.04%.Broadstone Net Lease has set its FY 2025 guidance at 1.490-1.500 EPS. As a group, research analysts expect that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date of this dividend was Wednesday, December 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 246.81%.

Analyst Upgrades and Downgrades

BNL has been the topic of several analyst reports. Cantor Fitzgerald set a $20.00 price target on shares of Broadstone Net Lease in a report on Monday, January 5th. BTIG Research lowered their target price on shares of Broadstone Net Lease from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, December 5th. Truist Financial raised their price target on shares of Broadstone Net Lease from $18.00 to $20.00 and gave the stock a “hold” rating in a research note on Tuesday, November 25th. Wall Street Zen raised Broadstone Net Lease from a “sell” rating to a “hold” rating in a report on Saturday. Finally, JMP Securities reiterated a “market outperform” rating and issued a $21.00 price objective on shares of Broadstone Net Lease in a research note on Monday, September 29th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.91.

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.