Creative Planning Raises Stock Holdings in Broadstone Net Lease, Inc. $BNL

Creative Planning boosted its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 0.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 544,696 shares of the company’s stock after acquiring an additional 3,104 shares during the quarter. Creative Planning’s holdings in Broadstone Net Lease were worth $8,742,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Jane Street Group LLC boosted its position in Broadstone Net Lease by 292.3% in the first quarter. Jane Street Group LLC now owns 553,738 shares of the company’s stock valued at $9,436,000 after buying an additional 412,604 shares during the last quarter. LPL Financial LLC raised its position in Broadstone Net Lease by 17.1% during the 1st quarter. LPL Financial LLC now owns 131,654 shares of the company’s stock worth $2,243,000 after buying an additional 19,190 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Broadstone Net Lease by 20.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 543,987 shares of the company’s stock valued at $9,270,000 after acquiring an additional 92,909 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Broadstone Net Lease by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 27,711,994 shares of the company’s stock valued at $472,212,000 after acquiring an additional 266,900 shares during the last quarter. Finally, Canandaigua National Trust Co of Florida acquired a new stake in shares of Broadstone Net Lease in the second quarter worth $965,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BNL shares. Wall Street Zen upgraded shares of Broadstone Net Lease from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. BTIG Research reissued a “buy” rating and issued a $22.00 price objective on shares of Broadstone Net Lease in a report on Wednesday, October 1st. Cantor Fitzgerald began coverage on Broadstone Net Lease in a report on Wednesday, October 1st. They set an “overweight” rating and a $21.00 target price on the stock. The Goldman Sachs Group raised Broadstone Net Lease from a “sell” rating to a “buy” rating and set a $21.00 price target for the company in a report on Thursday, August 21st. Finally, Wolfe Research upgraded Broadstone Net Lease from a “peer perform” rating to an “outperform” rating and set a $19.00 price objective on the stock in a research report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Broadstone Net Lease currently has an average rating of “Moderate Buy” and an average price target of $19.89.

Broadstone Net Lease Stock Performance

Shares of Broadstone Net Lease stock opened at $18.24 on Wednesday. The firm has a 50-day simple moving average of $18.33 and a two-hundred day simple moving average of $17.15. Broadstone Net Lease, Inc. has a fifty-two week low of $13.96 and a fifty-two week high of $18.87. The company has a market cap of $3.45 billion, a P/E ratio of 38.80 and a beta of 1.00.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings results 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 business had revenue of $114.17 million during the quarter, compared to analysts’ expectations of $111.89 million. Broadstone Net Lease had a net margin of 20.04% and a return on equity of 2.91%. Broadstone Net Lease has set its FY 2025 guidance at 1.490-1.500 EPS. Equities research analysts forecast that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.

Broadstone Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend is Wednesday, December 31st. Broadstone Net Lease’s dividend payout ratio is presently 246.81%.

Broadstone Net Lease 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.