Engineers Gate Manager LP Invests $1.48 Million in Broadstone Net Lease, Inc. $BNL

Key Points

• Engineers Gate Manager LP acquired 71,554 shares of Broadstone Net Lease in the second quarter, worth approximately $1.48 million. Institutional investors collectively own 89.07% of the REIT.
• 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.
• Broadstone Net Lease reported quarterly EPS of $0.21, exceeding estimates of $0.19, and declared a quarterly dividend of $0.2925, equivalent to a 6.0% annualized yield.

Engineers Gate Manager LP acquired a new stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 71,554 shares of the company's stock, valued at approximately $1,479,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. acquired a new position in Broadstone Net Lease during the second quarter valued at approximately $712,332,000. Dimensional Fund Advisors LP increased its position in shares of Broadstone Net Lease by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,696,795 shares of the company's stock worth $49,273,000 after purchasing an additional 103,091 shares during the last quarter. Norges Bank acquired a new position in shares of Broadstone Net Lease during the 4th quarter worth approximately $41,471,000. Bank of America Corp DE raised its stake in shares of Broadstone Net Lease by 8.7% during the 1st quarter. Bank of America Corp DE now owns 2,231,816 shares of the company's stock worth $40,775,000 after purchasing an additional 178,546 shares in the last quarter. Finally, LSV Asset Management raised its stake in shares of Broadstone Net Lease by 60.9% during the 4th quarter. LSV Asset Management now owns 2,156,500 shares of the company's stock worth $37,458,000 after purchasing an additional 816,100 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. BMO Capital Markets raised their target price on shares of Broadstone Net Lease from $24.00 to $26.00 and gave the company an "outperform" rating in a research note on Friday, July 10th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Broadstone Net Lease in a research report on Friday, July 31st. Citigroup cut shares of Broadstone Net Lease from a "market perform" rating to a "market perform" rating in a research note on Friday, June 12th. Truist Financial set a $22.00 price objective on shares of Broadstone Net Lease in a research report on Monday, June 8th. Finally, The Goldman Sachs Group boosted their price objective 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. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Broadstone Net Lease has an average rating of "Moderate Buy" and an average target price of $22.78.

Insider Transactions at Broadstone Net Lease

In other news, Director Richard Imperiale acquired 5,000 shares of the firm's stock in a transaction on Thursday, August 20th. The shares were purchased at an average cost of $21.22 per share, with a total value of $106,100.00. Following the acquisition, the director directly owned 26,250 shares in the company, valued at $557,025. This represents a 23.53% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 1.02% of the stock is owned by company insiders.

Broadstone Net Lease Stock Down 2.7%

Broadstone Net Lease stock opened at $19.43 on Thursday. The company's 50-day moving average price is $21.35 and its two-hundred day moving average price is $20.45. The stock has a market cap of $3.73 billion, a P/E ratio of 25.56 and a beta of 0.91. Broadstone Net Lease, Inc. has a twelve month low of $17.16 and a twelve month high of $23.10.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.02. Broadstone Net Lease had a return on equity of 4.83% and a net margin of 30.61%.The company had revenue of $122.31 million during the quarter, compared to analysts' expectations of $121.63 million. Broadstone Net Lease has set its FY 2026 guidance at 1.550-1.570 EPS. Equities analysts anticipate that Broadstone Net Lease, Inc. will post 1.53 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.2925 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.17 annualized dividend and a yield of 6.0%. Broadstone Net Lease's payout ratio is 153.95%.

About Broadstone Net Lease

Broadstone Net Lease, Inc NYSE: BNL is a real estate investment trust (REIT) that owns and manages a diversified portfolio of primarily single-tenant commercial properties. The company leases these properties to businesses under long-term, net lease agreements, in which tenants generally assume responsibility for property taxes, insurance and maintenance.

Broadstone's portfolio is diversified across industries and includes properties used for healthcare, industrial, office, retail, restaurant and other business purposes.

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