Perpetual Ltd Acquires 6,320 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Perpetual Ltd raised its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 8.2% in the third quarter, HoldingsChannel reports. The firm owned 83,489 shares of the company’s stock after buying an additional 6,320 shares during the quarter. Perpetual Ltd’s holdings in Broadstone Net Lease were worth $1,582,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Broadstone Net Lease by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 27,962,340 shares of the company’s stock worth $438,170,000 after acquiring an additional 178,102 shares during the period. Millennium Management LLC grew its holdings in shares of Broadstone Net Lease by 709.4% during the 2nd quarter. Millennium Management LLC now owns 3,177,459 shares of the company’s stock worth $50,426,000 after acquiring an additional 2,784,878 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Broadstone Net Lease by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,767,296 shares of the company’s stock worth $28,047,000 after acquiring an additional 54,885 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Broadstone Net Lease by 159.4% during the 1st quarter. Janus Henderson Group PLC now owns 1,394,892 shares of the company’s stock worth $21,858,000 after acquiring an additional 857,141 shares during the period. Finally, V3 Capital Management L.P. purchased a new position in shares of Broadstone Net Lease during the 1st quarter worth approximately $20,747,000. Institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

BNL has been the topic of a number of research analyst reports. Truist Financial upped their target price on Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Friday, August 16th. The Goldman Sachs Group upped their target price on Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, September 13th. Finally, Wedbush started coverage on Broadstone Net Lease in a research note on Monday, August 19th. They issued an “outperform” rating and a $20.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $18.00.

Broadstone Net Lease Trading Up 0.4 %

Shares of BNL opened at $18.14 on Friday. The business’s fifty day simple moving average is $18.15 and its two-hundred day simple moving average is $16.50. Broadstone Net Lease, Inc. has a 12 month low of $13.68 and a 12 month high of $19.15. The company has a market cap of $3.42 billion, a price-to-earnings ratio of 21.85 and a beta of 1.11.

Broadstone Net Lease (NYSE:BNL) last issued its earnings results on Tuesday, July 30th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.15). Broadstone Net Lease had a net margin of 36.78% and a return on equity of 4.86%. The business had revenue of $105.91 million for the quarter, compared to analysts’ expectations of $105.95 million. During the same quarter in the prior year, the business posted $0.35 earnings per share. As a group, research analysts forecast that Broadstone Net Lease, Inc. will post 1.39 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.29 per share. The ex-dividend date is Monday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 6.40%. Broadstone Net Lease’s payout ratio is 139.76%.

Broadstone Net Lease Company Profile

BNL is an industrial-focused, diversified net lease REIT that acquires, owns, and manages primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. Utilizing an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting, as of September 30, 2023, BNL's diversified portfolio consisted of 800 individual net leased commercial properties with 793 properties located in 44 U.S.