Canandaigua National Trust Co of Florida Makes New Investment in Broadstone Net Lease, Inc. $BNL

Key Points

• Canandaigua National Trust Co. of Florida bought 66,256 Broadstone Net Lease shares worth approximately $1.23 million in the third quarter. Institutional investors collectively own 89.07% of the company.
• Broadstone Net Lease reported quarterly EPS of $0.21, exceeding the $0.19 analyst consensus, while revenue reached $122.31 million. Analysts maintain a consensus “Moderate Buy” rating with a $22.67 target price.
• The REIT declared a quarterly dividend of $0.2925 per share, or $1.17 annualized, representing a 6.4% yield; shares recently traded at $18.27.

Canandaigua National Trust Co of Florida bought a new stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 66,256 shares of the company's stock, valued at approximately $1,226,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. purchased a new position in Broadstone Net Lease in the 2nd quarter worth about $712,332,000. Dimensional Fund Advisors LP lifted its stake in Broadstone Net Lease by 4.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,696,795 shares of the company's stock valued at $49,273,000 after buying an additional 103,091 shares in the last quarter. Norges Bank purchased a new stake in Broadstone Net Lease during the fourth quarter valued at about $41,471,000. Bank of America Corp DE lifted its stake in Broadstone Net Lease by 8.7% during the first quarter. Bank of America Corp DE now owns 2,231,816 shares of the company's stock valued at $40,775,000 after buying an additional 178,546 shares in the last quarter. Finally, Alyeska Investment Group L.P. boosted its holdings in shares of Broadstone Net Lease by 7.8% in the second quarter. Alyeska Investment Group L.P. now owns 2,050,198 shares of the company's stock worth $42,378,000 after buying an additional 148,533 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Broadstone Net Lease Stock Performance

Shares of NYSE BNL traded down $0.36 during mid-day trading on Wednesday, reaching $18.27. The company had a trading volume of 1,857,720 shares, compared to its average volume of 2,160,760. The stock has a fifty day moving average of $20.37 and a two-hundred day moving average of $20.41. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 24.03 and a beta of 0.91. 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 - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.02. The firm had revenue of $122.31 million for the quarter, compared to the consensus estimate 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. Sell-side analysts forecast that Broadstone Net Lease, Inc. will post 1.51 earnings per share for the current fiscal year.

Broadstone Net Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a dividend yield of 6.4%. The ex-dividend date is Wednesday, September 30th. Broadstone Net Lease's payout ratio is currently 153.95%.

Insider Buying and Selling at Broadstone Net Lease

In related news, Director Richard Imperiale purchased 5,000 shares of the company's stock in a transaction dated 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 completion of the purchase, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.02% of the company's stock.

Wall Street Analysts Forecast Growth

BNL has been the topic of a number of recent analyst reports. Citigroup lowered shares of Broadstone Net Lease from a "market perform" rating to a "market perform" rating in a report on Friday, June 12th. Cantor Fitzgerald raised their price objective 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 lifted their price objective on shares of Broadstone Net Lease from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Friday, June 26th. Weiss Ratings reissued a "buy (b)" rating on shares of Broadstone Net Lease in a research note on Friday, July 31st. Finally, Citizens Jmp lowered Broadstone Net Lease from an "outperform" rating to a "market perform" rating in a report on Friday, June 12th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Broadstone Net Lease presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.67.

Broadstone Net Lease Profile

Broadstone Net Lease, Inc is a real estate investment trust (REIT) that owns and manages a diversified portfolio of single-tenant commercial properties. The company primarily invests in properties subject to long-term, triple-net leases, under which tenants generally are responsible for property taxes, insurance and maintenance costs.

Broadstone's portfolio includes industrial, healthcare, restaurant and other commercial properties leased to tenants across a range of industries. Its business activities include acquiring, owning, leasing and managing income-producing real estate, with an emphasis on properties that can provide stable rental income over extended lease terms.

Founded in 2007, Broadstone Net Lease completed its initial public offering in 2020.

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