California State Teachers Retirement System Has $4.32 Million Position in Broadstone Net Lease, Inc. $BNL

Key Points

• California State Teachers Retirement System increased its Broadstone Net Lease stake by 30.2% to 236,627 shares, valued at approximately $4.32 million. Institutional investors collectively own 89.07% of the company.
• Analysts remain generally positive, with seven Buy ratings and four Hold ratings; the stock has an average “Moderate Buy” rating and a consensus price target of $22.78.
• Broadstone Net Lease beat quarterly earnings expectations, reporting $0.21 per share versus $0.19 expected, and declared a quarterly dividend of $0.2925 per share, representing a 5.6% annualized yield.

California State Teachers Retirement System boosted its holdings in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 30.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 236,627 shares of the company's stock after acquiring an additional 54,892 shares during the quarter. California State Teachers Retirement System owned 0.12% of Broadstone Net Lease worth $4,323,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC lifted its position 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 worth $35,000 after buying an additional 600 shares in the last quarter. Advisory Services Network LLC bought a new stake in Broadstone Net Lease during the third quarter worth $61,000. EverSource Wealth Advisors LLC lifted its holdings in Broadstone Net Lease by 80.9% during the second quarter. EverSource Wealth Advisors LLC now owns 4,261 shares of the company's stock worth $68,000 after acquiring an additional 1,906 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Broadstone Net Lease by 33.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,527 shares of the company's stock worth $96,000 after purchasing an additional 1,385 shares during the last quarter. Finally, KBC Group NV grew its stake in Broadstone Net Lease by 38.1% in the 1st quarter. KBC Group NV now owns 7,352 shares of the company's stock valued at $134,000 after purchasing an additional 2,028 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. BMO Capital Markets increased their price target 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. BTIG Research boosted their target price on shares of Broadstone Net Lease from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Friday, June 26th. Cantor Fitzgerald increased their target price 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. The Goldman Sachs Group raised their price target on shares of Broadstone Net Lease from $23.00 to $26.00 and gave the stock a "buy" rating in a research note on Saturday, August 1st. Finally, Truist Financial set a $22.00 price target on shares of Broadstone Net Lease in a report on Monday, June 8th. Seven investment 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 has an average rating of "Moderate Buy" and an average target price of $22.78.

Broadstone Net Lease Stock Performance

Broadstone Net Lease stock opened at $20.89 on Friday. Broadstone Net Lease, Inc. has a fifty-two week low of $16.48 and a fifty-two week high of $23.10. The stock has a market cap of $4.01 billion, a P/E ratio of 27.49 and a beta of 0.92. The firm's fifty day moving average price is $21.34 and its 200-day moving average price is $20.07.

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 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 for 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. Sell-side analysts predict that Broadstone Net Lease, Inc. will post 1.52 earnings per share for the current year.

Broadstone Net Lease Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders 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 yield of 5.6%. Broadstone Net Lease's dividend payout ratio is presently 153.95%.

About Broadstone Net Lease

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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