Public Employees Retirement System of Ohio Takes Position in Broadstone Net Lease, Inc. $BNL

Key Points

• Public Employees Retirement System of Ohio acquired 219,856 Broadstone Net Lease shares worth approximately $4.54 million, while institutional investors collectively owned 89.07% of the REIT.
• Broadstone Net Lease reported quarterly earnings of $0.21 per share, beating estimates by $0.02, on revenue of $122.31 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $22.78.
• The company declared a quarterly dividend of $0.2925, or $1.17 annually, representing a 5.6% yield; a director also purchased 5,000 shares worth $106,100.

Public Employees Retirement System of Ohio acquired a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 219,856 shares of the company's stock, valued at approximately $4,544,000. Public Employees Retirement System of Ohio owned about 0.11% of Broadstone Net Lease at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BNL. BlackRock Inc. acquired a new stake in Broadstone Net Lease in the second quarter valued at $712,332,000. Invesco Ltd. boosted its position in shares of Broadstone Net Lease by 391.1% during the 4th quarter. Invesco Ltd. now owns 4,565,429 shares of the company's stock worth $79,302,000 after acquiring an additional 3,635,809 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of Broadstone Net Lease by 213.2% in the 2nd quarter. Balyasny Asset Management L.P. now owns 4,335,166 shares of the company's stock valued at $69,579,000 after acquiring an additional 2,951,207 shares during the last quarter. Norges Bank purchased a new position in shares of Broadstone Net Lease in the 4th quarter valued at about $41,471,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Broadstone Net Lease during the 2nd quarter worth about $39,745,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Broadstone Net Lease Stock Up 1.1%

Shares of NYSE BNL opened at $21.05 on Thursday. The business has a 50-day moving average price of $21.49 and a 200 day moving average price of $20.37. The stock has a market cap of $4.04 billion, a PE ratio of 27.70 and a beta of 0.91. Broadstone Net Lease, Inc. has a 52-week low of $17.16 and a 52-week high of $23.10.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.21 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $121.63 million. Broadstone Net Lease has set its FY 2026 guidance at 1.550-1.570 EPS. Sell-side analysts anticipate that Broadstone Net Lease, Inc. will post 1.53 earnings per share for the current year.

Broadstone Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders 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 dividend yield of 5.6%. The ex-dividend date of this dividend is Wednesday, September 30th. Broadstone Net Lease's payout ratio is presently 153.95%.

Analyst Ratings Changes

Several research firms recently weighed in on BNL. Citigroup cut Broadstone Net Lease from a "market perform" rating to a "market perform" rating in a research note on Friday, June 12th. Citizens Jmp lowered shares of Broadstone Net Lease from an "outperform" rating to a "market perform" rating in a research note on Friday, June 12th. BMO Capital Markets raised their price objective on shares of Broadstone Net Lease from $24.00 to $26.00 and gave the stock an "outperform" rating in a report on Friday, July 10th. Truist Financial set a $22.00 price objective on shares of Broadstone Net Lease in a research report on Monday, June 8th. Finally, KeyCorp upped 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 analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $22.78.

Insider Activity at Broadstone Net Lease

In other Broadstone Net Lease news, Director Richard P. Imperiale purchased 5,000 shares of Broadstone Net Lease stock in a transaction that occurred on Thursday, August 20th. The stock was purchased at an average price of $21.22 per share, for a total transaction of $106,100.00. Following the transaction, the director directly owned 26,250 shares in the company, valued at $557,025. This trade represents a 23.53% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.02% of the stock is owned by insiders.

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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