Wellington Management Group LLP Acquires New Shares in Broadstone Net Lease, Inc. $BNL

Wellington Management Group LLP bought a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,727,563 shares of the company’s stock, valued at approximately $35,709,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC increased its holdings in shares of Broadstone Net Lease by 42.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,000 shares of the company’s stock worth $35,000 after acquiring an additional 600 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Broadstone Net Lease by 0.9% during the 2nd quarter. American Century Companies Inc. now owns 77,865 shares of the company’s stock valued at $1,250,000 after purchasing an additional 664 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of Broadstone Net Lease by 0.9% in the 2nd quarter. Lazard Asset Management LLC now owns 89,265 shares of the company’s stock valued at $1,432,000 after purchasing an additional 768 shares during the period. Rockefeller Capital Management L.P. grew its position in shares of Broadstone Net Lease by 5.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 19,294 shares of the company’s stock valued at $335,000 after purchasing an additional 944 shares during the period. Finally, FJ Capital Management LLC increased its stake in Broadstone Net Lease by 8.2% during the 2nd quarter. FJ Capital Management LLC now owns 12,754 shares of the company’s stock worth $205,000 after purchasing an additional 965 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on BNL. The Goldman Sachs Group raised their target price on shares of Broadstone Net Lease from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Saturday, August 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Broadstone Net Lease in a research report on Friday, July 31st. KeyCorp raised their price objective on shares of Broadstone Net Lease from $20.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. BMO Capital Markets boosted their price objective on shares of Broadstone Net Lease from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, July 10th. Finally, Truist Financial set a $22.00 target price on Broadstone Net Lease in a report on Monday, June 8th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Broadstone Net Lease currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.78.

Insider Buying and Selling at Broadstone Net Lease

In related news, Director Richard Imperiale bought 5,000 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were acquired at an average price of $21.22 per share, with a total value of $106,100.00. Following the completion of the transaction, the director owned 26,250 shares in the company, valued at $557,025. The trade was a 23.53% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.02% of the stock is owned by insiders.

Broadstone Net Lease Stock Down 0.4%

NYSE BNL opened at $20.78 on Friday. The firm’s 50 day moving average is $21.48 and its 200-day moving average is $20.38. The company has a market capitalization of $3.99 billion, a PE ratio of 27.34 and a beta of 0.91. Broadstone Net Lease, Inc. has a 12-month low of $17.16 and a 12-month high of $23.10.

Broadstone Net Lease (NYSE:BNL) last released its earnings results on Wednesday, July 29th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. Broadstone Net Lease had a net margin of 30.61% and a return on equity of 4.83%. The business had revenue of $122.31 million during the quarter, compared to the consensus estimate of $121.63 million. Broadstone Net Lease has set its FY 2026 guidance at 1.550-1.570 EPS. As a group, sell-side analysts expect that Broadstone Net Lease, Inc. will post 1.53 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Wednesday, September 30th. Broadstone Net Lease’s dividend payout ratio is currently 153.95%.

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.