Bank of New York Mellon Corp Takes $39.74 Million Position in Broadstone Net Lease, Inc. $BNL

Key Points

• Bank of New York Mellon purchased 1.92 million Broadstone Net Lease shares worth approximately $39.7 million, acquiring a 1.0% stake. Institutional investors collectively own 89.07% of the company.
• Analysts maintain a generally positive outlook, with seven Buy ratings and four Holds, a “Moderate Buy” consensus, and an average price target of $22.78.
• Broadstone Net Lease exceeded quarterly earnings expectations, reporting $0.21 EPS versus a $0.19 estimate, and declared a quarterly dividend of $0.2925, representing a 5.5% annualized yield.

Bank of New York Mellon Corp purchased a new position in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,922,855 shares of the company's stock, valued at approximately $39,745,000. Bank of New York Mellon Corp owned 1.00% of Broadstone Net Lease as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the business. Royal Bank of Canada increased its position in shares of Broadstone Net Lease by 69.9% in the first quarter. Royal Bank of Canada now owns 91,943 shares of the company's stock worth $1,566,000 after purchasing an additional 37,830 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Broadstone Net Lease by 52.8% in the 1st quarter. AQR Capital Management LLC now owns 25,599 shares of the company's stock worth $436,000 after buying an additional 8,848 shares during the last quarter. Millennium Management LLC raised its position in shares of Broadstone Net Lease by 2.3% during the 1st quarter. Millennium Management LLC now owns 1,147,372 shares of the company's stock valued at $19,551,000 after buying an additional 25,944 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Broadstone Net Lease by 5.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,283,889 shares of the company's stock worth $21,877,000 after acquiring an additional 70,534 shares during the last quarter. Finally, Jane Street Group LLC grew 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 worth $9,436,000 after acquiring an additional 412,604 shares in the last quarter. Institutional investors own 89.07% of the company's stock.

Analyst Ratings Changes

BNL has been the subject of several research analyst reports. Citigroup lowered Broadstone Net Lease from a "market perform" rating to a "market perform" rating in a research note on Friday, June 12th. Citizens Jmp lowered Broadstone Net Lease from an "outperform" rating to a "market perform" rating in a research note on Friday, June 12th. Cantor Fitzgerald lifted 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 note on Friday, July 31st. BTIG Research boosted their price objective on shares of Broadstone Net Lease from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Friday, June 26th. Finally, 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. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Broadstone Net Lease has an average rating of "Moderate Buy" and a consensus price target of $22.78.

Broadstone Net Lease Price Performance

Shares of Broadstone Net Lease stock opened at $21.13 on Friday. Broadstone Net Lease, Inc. has a 1 year low of $17.16 and a 1 year high of $23.10. The firm's 50-day moving average is $21.49 and its 200 day moving average is $20.33. The stock has a market cap of $4.05 billion, a price-to-earnings ratio of 27.80 and a beta of 0.92.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $122.31 million during the quarter, compared to analyst estimates 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, equities analysts expect that Broadstone Net Lease, Inc. will post 1.53 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued 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 payout ratio is presently 153.95%.

Insider Transactions at Broadstone Net Lease

In other Broadstone Net Lease news, Director Richard P. Imperiale acquired 5,000 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were acquired at an average cost of $21.22 per share, with a total value of $106,100.00. Following the transaction, the director owned 26,250 shares of the company's stock, valued at $557,025. The trade was a 23.53% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.02% of the company's stock.

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.

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