Canandaigua National Bank & Trust Co. Invests $1.08 Million in Broadstone Net Lease, Inc. $BNL

Key Points

• Canandaigua National Bank & Trust acquired 52,087 Broadstone Net Lease shares worth approximately $1.08 million, while institutional investors collectively own 89.07% of BNL.
• Analysts maintain a positive outlook: seven rate BNL a Buy and four rate it Hold, producing a “Moderate Buy” consensus and an average price target of $22.78.
• Broadstone Net Lease exceeded quarterly earnings and revenue estimates, and declared a $0.2925 quarterly dividend, equivalent to a 5.5% annualized yield.

Canandaigua National Bank & Trust Co. bought a new position in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 52,087 shares of the company's stock, valued at approximately $1,077,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. CIBC Private Wealth Group LLC boosted its stake in shares of Broadstone Net Lease by 42.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,000 shares of the company's stock valued at $35,000 after purchasing an additional 600 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Broadstone Net Lease during the third quarter valued at about $61,000. EverSource Wealth Advisors LLC grew its stake in shares of Broadstone Net Lease by 80.9% during the second quarter. EverSource Wealth Advisors LLC now owns 4,261 shares of the company's stock valued at $68,000 after buying an additional 1,906 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of 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 buying an additional 1,385 shares during the period. Finally, KBC Group NV lifted its stake in shares of 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 acquiring an additional 2,028 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Weiss Ratings restated a "buy (b)" rating on shares of Broadstone Net Lease in a report 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 company a "buy" rating in a research report on Friday, June 26th. Truist Financial set a $22.00 target price on shares of Broadstone Net Lease in a report on Monday, June 8th. KeyCorp boosted their price target on Broadstone Net Lease from $20.00 to $24.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Finally, Cantor Fitzgerald lifted their price objective on Broadstone Net Lease from $22.00 to $24.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.78.

Broadstone Net Lease Stock Performance

NYSE:BNL opened at $21.23 on Thursday. The firm has a market cap of $4.06 billion, a P/E ratio of 27.93 and a beta of 0.92. Broadstone Net Lease, Inc. has a fifty-two week low of $16.48 and a fifty-two week high of $23.10. The firm has a 50-day simple moving average of $21.31 and a two-hundred day simple moving average of $20.04.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm 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. On average, equities research analysts predict that Broadstone Net Lease, Inc. will post 1.52 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The business also recently announced 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. The ex-dividend date is Wednesday, September 30th. This represents a $1.17 annualized dividend and a yield of 5.5%. Broadstone Net Lease's dividend payout ratio (DPR) 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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