Bank of Montreal Can Boosts Holdings in Broadstone Net Lease, Inc. $BNL

Bank of Montreal Can boosted its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,210,630 shares of the company’s stock after acquiring an additional 9,997 shares during the period. Bank of Montreal Can’s holdings in Broadstone Net Lease were worth $19,564,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Nuveen LLC bought a new stake in shares of Broadstone Net Lease in the 1st quarter worth approximately $28,127,000. Van Lanschot Kempen Investment Management N.V. purchased a new stake in Broadstone Net Lease in the first quarter worth $11,646,000. Allianz Asset Management GmbH raised its stake in shares of Broadstone Net Lease by 87.3% in the first quarter. Allianz Asset Management GmbH now owns 1,288,892 shares of the company’s stock valued at $21,963,000 after buying an additional 600,633 shares during the period. Boston Partners purchased a new position in shares of Broadstone Net Lease during the 1st quarter valued at $8,071,000. Finally, Cetera Investment Advisers bought a new position in shares of Broadstone Net Lease during the 1st quarter worth $7,259,000. 89.07% of the stock is owned by institutional investors.

Broadstone Net Lease Trading Up 1.9%

BNL stock opened at $18.13 on Friday. The firm has a 50 day moving average of $18.38 and a 200-day moving average of $17.03. Broadstone Net Lease, Inc. has a 12 month low of $13.96 and a 12 month high of $18.87. The firm has a market capitalization of $3.43 billion, a P/E ratio of 38.56 and a beta of 1.00.

Broadstone Net Lease (NYSE:BNL) last posted its earnings results on Wednesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.23). Broadstone Net Lease had a return on equity of 2.91% and a net margin of 20.04%.The firm had revenue of $114.17 million for the quarter, compared to the consensus estimate of $111.89 million. Broadstone Net Lease has set its FY 2025 guidance at 1.490-1.500 EPS. Sell-side analysts predict that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.

Broadstone Net Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date is Wednesday, December 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is 246.81%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BNL shares. Cantor Fitzgerald assumed coverage on Broadstone Net Lease in a research note on Wednesday, October 1st. They issued an “overweight” rating and a $21.00 price objective on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Broadstone Net Lease in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Broadstone Net Lease from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. The Goldman Sachs Group raised shares of Broadstone Net Lease from a “sell” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Thursday, August 21st. Finally, BTIG Research reissued a “buy” rating and set a $22.00 target price on shares of Broadstone Net Lease in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Broadstone Net Lease currently has a consensus rating of “Moderate Buy” and an average target price of $19.89.

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.