Van ECK Associates Corp Reduces Position in Broadstone Net Lease, Inc. $BNL

Van ECK Associates Corp lessened its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 49.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,158 shares of the company's stock after selling 52,958 shares during the quarter. Van ECK Associates Corp's holdings in Broadstone Net Lease were worth $1,119,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Broadstone Net Lease during the 2nd quarter valued at approximately $712,332,000. Invesco Ltd. grew its stake in Broadstone Net Lease by 391.1% in the 4th quarter. Invesco Ltd. now owns 4,565,429 shares of the company's stock valued at $79,302,000 after buying an additional 3,635,809 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in 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 buying an additional 2,951,207 shares in the last quarter. Norges Bank bought a new stake in Broadstone Net Lease during the 4th quarter valued at $41,471,000. Finally, Bank of New York Mellon Corp bought a new stake in Broadstone Net Lease during the 2nd quarter valued at $39,745,000. Institutional investors own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BNL. Citizens Jmp lowered Broadstone Net Lease from an "outperform" rating to a "market perform" rating in a report on Friday, June 12th. BTIG Research boosted their price objective on Broadstone Net Lease from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Friday, June 26th. Weiss Ratings reissued a "buy (b)" rating on shares of Broadstone Net Lease in a report on Friday, July 31st. KeyCorp raised their target price on Broadstone Net Lease from $20.00 to $24.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Finally, Cantor Fitzgerald lifted their target price on Broadstone Net Lease from $22.00 to $24.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Broadstone Net Lease currently has an average rating of "Moderate Buy" and a consensus price target of $22.78.

Broadstone Net Lease Price Performance

Shares of NYSE:BNL opened at $20.78 on Friday. The firm has a fifty day moving average price of $21.48 and a two-hundred day moving average price of $20.38. The company has a market cap of $3.99 billion, a price-to-earnings ratio of 27.34 and a beta of 0.91. Broadstone Net Lease, Inc. has a one year low of $17.16 and a one year 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 earnings per share 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 analysts' expectations of $121.63 million. Broadstone Net Lease has set its FY 2026 guidance at 1.550-1.570 EPS. Equities research analysts expect that Broadstone Net Lease, Inc. will post 1.53 EPS for the current fiscal year.

Broadstone Net Lease Dividend Announcement

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

Insiders Place Their Bets

In other Broadstone Net Lease news, Director Richard Imperiale purchased 5,000 shares of the stock in a transaction on Thursday, August 20th. The shares were purchased at an average price 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 approximately $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 is available through the SEC website. 1.02% of the stock is owned by corporate 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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