VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Position in Broadstone Net Lease, Inc. $BNL

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) in the second quarter, Holdings Channel.com reports. The firm purchased 63,134 shares of the company’s stock, valued at approximately $1,305,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Broadstone Net Lease in the second quarter worth approximately $712,332,000. California State Teachers Retirement System boosted its position in shares of Broadstone Net Lease by 1,911.3% during the second quarter. California State Teachers Retirement System now owns 4,759,288 shares of the company’s stock valued at $98,374,000 after buying an additional 4,522,661 shares during the last quarter. Invesco Ltd. grew its holdings in Broadstone Net Lease by 391.1% during the fourth quarter. Invesco Ltd. now owns 4,565,429 shares of the company’s stock worth $79,302,000 after buying an additional 3,635,809 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in Broadstone Net Lease by 213.2% during the second quarter. Balyasny Asset Management L.P. now owns 4,335,166 shares of the company’s stock worth $69,579,000 after buying an additional 2,951,207 shares in the last quarter. Finally, Norges Bank purchased a new stake in Broadstone Net Lease in the 4th quarter valued at $41,471,000. 89.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Citigroup cut Broadstone Net Lease from a “market perform” rating to a “market perform” rating in a research note on Friday, June 12th. Citizens Jmp lowered shares of Broadstone Net Lease from an “outperform” rating to a “market perform” rating in a research note on Friday, June 12th. KeyCorp increased their target price on shares of Broadstone Net Lease from $20.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. BTIG Research increased their target price on shares of Broadstone Net Lease from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, June 26th. Finally, Cantor Fitzgerald raised their price target on shares of Broadstone Net Lease from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.78.

Broadstone Net Lease Stock Down 0.5%

BNL stock opened at $20.42 on Friday. The firm has a market cap of $3.92 billion, a PE ratio of 26.87 and a beta of 0.91. The business has a 50 day moving average of $21.44 and a 200-day moving average of $20.43. 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 issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. Broadstone Net Lease had a return on equity of 4.83% and a net margin of 30.61%.The business had revenue of $122.31 million for the quarter, compared to analyst estimates of $121.63 million. Broadstone Net Lease has set its FY 2026 guidance at 1.550-1.570 EPS. On average, research analysts expect that Broadstone Net Lease, Inc. will post 1.53 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.2925 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.17 annualized dividend and a dividend yield of 5.7%. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 153.95%.

Insider Activity at Broadstone Net Lease

In other Broadstone Net Lease news, Director Richard Imperiale bought 5,000 shares of the stock in a transaction dated Thursday, August 20th. The shares were bought at an average cost of $21.22 per share, for a total transaction of $106,100.00. Following the purchase, the director directly owned 26,250 shares of the company’s stock, valued at approximately $557,025. This trade represents a 23.53% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.02% of the stock is owned by insiders.

Broadstone Net Lease Company Profile

Broadstone Net Lease, Inc (NYSE: BNL) is a real estate investment trust (REIT) that owns and manages a diversified portfolio of primarily single-tenant commercial properties. The company leases these properties to businesses under long-term, net lease agreements, in which tenants generally assume responsibility for property taxes, insurance and maintenance.

Broadstone’s portfolio is diversified across industries and includes properties used for healthcare, industrial, office, retail, restaurant and other business purposes.