Bank of America Corp DE Raises Position in Broadstone Net Lease, Inc. $BNL

Key Points

• Bank of America increased its Broadstone Net Lease stake by 8.7% in the first quarter, adding 178,546 shares to own 2.23 million shares valued at approximately $40.8 million. Institutional investors collectively own 89.07% of BNL.
• Analysts maintain a generally positive outlook, with seven Buy ratings and four Holds producing a “Moderate Buy” consensus and an average price target of $22.78. Several firms recently raised their targets, including Goldman Sachs to $26.
• Broadstone Net Lease exceeded quarterly earnings and revenue expectations, reporting EPS of $0.21 versus the $0.19 consensus and revenue of $122.31 million. The company also declared a quarterly dividend of $0.2925, equivalent to a 5.5% annualized yield.

Bank of America Corp DE boosted its holdings in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 8.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,231,816 shares of the company's stock after acquiring an additional 178,546 shares during the quarter. Bank of America Corp DE owned 1.17% of Broadstone Net Lease worth $40,775,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of research firms recently issued reports on BNL. Weiss Ratings reissued a "buy (b)" rating on shares of Broadstone Net Lease in a report on Friday, July 31st. Truist Financial set a $22.00 target price on shares of Broadstone Net Lease in a research report on Monday, June 8th. The Goldman Sachs Group upped their target price on shares of Broadstone Net Lease from $23.00 to $26.00 and gave the company a "buy" rating in a report on Saturday, August 1st. Cantor Fitzgerald increased their price target on shares of Broadstone Net Lease from $22.00 to $24.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Finally, KeyCorp lifted their price target on shares of Broadstone Net Lease from $20.00 to $24.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.78.

Broadstone Net Lease Price Performance

Shares of BNL opened at $21.24 on Friday. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of 27.95 and a beta of 0.92. Broadstone Net Lease, Inc. has a 1 year low of $16.58 and a 1 year high of $23.10. The business's 50 day simple moving average is $21.40 and its 200-day simple moving average is $20.14.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. The firm had revenue of $122.31 million for the quarter, compared to analysts' expectations of $121.63 million. Broadstone Net Lease had a net margin of 30.61% and a return on equity of 4.83%. Broadstone Net Lease has set its FY 2026 guidance at 1.550-1.570 EPS. On average, sell-side analysts expect that Broadstone Net Lease, Inc. will post 1.52 earnings per share for the current year.

Broadstone Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date is Wednesday, September 30th. Broadstone Net Lease's dividend payout ratio is currently 153.95%.

Broadstone Net Lease 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.

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