The Manufacturers Life Insurance Company Buys New Shares in Broadstone Net Lease, Inc. $BNL

Key Points

• The Manufacturers Life Insurance Company initiated a position in Broadstone Net Lease by purchasing 94,747 shares valued at approximately $1.96 million. Institutional investors and hedge funds collectively own 89.07% of BNL.
• Analysts maintain a generally positive view, with seven Buy ratings and four Holds, producing a “Moderate Buy” consensus and an average price target of $22.78.
• Broadstone Net Lease exceeded quarterly earnings and revenue estimates, while declaring a quarterly dividend of $0.2925 per share, equivalent to a 5.6% annualized yield.

The Manufacturers Life Insurance Company bought a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 94,747 shares of the company's stock, valued at approximately $1,958,000.

A number of other large investors have also bought and sold shares of BNL. Allworth Financial LP acquired a new position in shares of Broadstone Net Lease during the second quarter valued at about $34,000. CIBC Private Wealth Group LLC increased its position in 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 buying an additional 600 shares in the last quarter. Advisory Services Network LLC acquired a new position in Broadstone Net Lease during the 3rd quarter worth approximately $61,000. EverSource Wealth Advisors LLC raised its stake in Broadstone Net Lease by 80.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,261 shares of the company's stock worth $68,000 after buying an additional 1,906 shares during the period. Finally, Global Retirement Partners LLC bought a new position in Broadstone Net Lease in the second quarter worth approximately $74,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Broadstone Net Lease

In other news, Director Richard Imperiale bought 5,000 shares of Broadstone Net Lease stock in a transaction dated 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 purchase, the director directly owned 26,250 shares in the company, valued at $557,025. The trade was a 23.53% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.02% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on BNL. Weiss Ratings restated a "buy (b)" rating on shares of Broadstone Net Lease in a report on Friday, July 31st. The Goldman Sachs Group increased their target price on Broadstone Net Lease from $23.00 to $26.00 and gave the stock a "buy" rating in a report on Saturday, August 1st. Truist Financial set a $22.00 price target on shares of Broadstone Net Lease in a research report on Monday, June 8th. Citizens Jmp downgraded shares of Broadstone Net Lease from an "outperform" rating to a "market perform" rating in a report on Friday, June 12th. Finally, Cantor Fitzgerald upped their price objective on shares of Broadstone Net Lease from $22.00 to $24.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $22.78.

Broadstone Net Lease Stock Performance

Shares of BNL opened at $20.90 on Friday. The firm has a market capitalization of $4.01 billion, a P/E ratio of 27.50 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. The stock has a 50 day moving average price of $21.48 and a two-hundred day moving average price of $20.38.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last posted 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 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. On average, equities analysts forecast that Broadstone Net Lease, Inc. will post 1.53 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Wednesday, September 30th. Broadstone Net Lease's payout ratio is currently 153.95%.

Broadstone Net Lease Company 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.

Want to see what other hedge funds are holding BNL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadstone Net Lease, Inc. (NYSE:BNL - Free Report).

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