VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Holdings in Broadstone Net Lease, Inc. $BNL

Key Points

• Virginia Retirement Systems acquired 63,134 shares of Broadstone Net Lease worth approximately $1.305 million during the second quarter. Institutional investors and hedge funds collectively own 89.07% of the company.
• Analysts remain generally positive, with seven Buy ratings and four Holds, resulting in 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 $0.2925 quarterly dividend. The annualized dividend of $1.17 represents a 5.7% yield.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 63,134 shares of the company's stock, valued at approximately $1,305,000.

Several other institutional investors also recently modified their holdings of the stock. Royal Bank of Canada raised its position in Broadstone Net Lease by 69.9% in the first quarter. Royal Bank of Canada now owns 91,943 shares of the company's stock valued at $1,566,000 after purchasing an additional 37,830 shares during the last quarter. AQR Capital Management LLC boosted its position in Broadstone Net Lease by 52.8% during the first quarter. AQR Capital Management LLC now owns 25,599 shares of the company's stock valued at $436,000 after acquiring an additional 8,848 shares during the last quarter. Millennium Management LLC grew its holdings in Broadstone Net Lease by 2.3% during the 1st quarter. Millennium Management LLC now owns 1,147,372 shares of the company's stock worth $19,551,000 after acquiring an additional 25,944 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Broadstone Net Lease by 5.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,283,889 shares of the company's stock worth $21,877,000 after acquiring an additional 70,534 shares in the last quarter. Finally, Jane Street Group LLC raised its position in shares of Broadstone Net Lease by 292.3% in the 1st quarter. Jane Street Group LLC now owns 553,738 shares of the company's stock worth $9,436,000 after acquiring an additional 412,604 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. KeyCorp upped their target price on Broadstone Net Lease from $20.00 to $24.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. BMO Capital Markets lifted their target price on Broadstone Net Lease from $24.00 to $26.00 and gave the stock an "outperform" rating in a report on Friday, July 10th. Cantor Fitzgerald increased their price target on Broadstone Net Lease from $22.00 to $24.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. BTIG Research raised 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. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Broadstone Net Lease in a research note on Friday, July 31st. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Broadstone Net Lease presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.78.

Insider Transactions at Broadstone Net Lease

In other Broadstone Net Lease news, Director Richard Imperiale purchased 5,000 shares of Broadstone Net Lease stock in a transaction that occurred on Thursday, August 20th. The stock was acquired at an average price of $21.22 per share, with a total value of $106,100.00. Following the transaction, the director owned 26,250 shares in the company, valued at $557,025. This trade represents a 23.53% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.02% of the company's stock.

Broadstone Net Lease Price Performance

Shares of BNL opened at $20.42 on Friday. The stock has a 50-day moving average of $21.44 and a 200-day moving average of $20.43. The company has a market cap of $3.92 billion, a PE ratio of 26.87 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 posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.21 earnings per share 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 business had revenue of $122.31 million for the quarter, compared to the consensus estimate of $121.63 million. Broadstone Net Lease has set its FY 2026 guidance at 1.550-1.570 EPS. Analysts expect that Broadstone Net Lease, Inc. will post 1.53 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.2925 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.17 annualized dividend and a yield of 5.7%. Broadstone Net Lease's dividend payout ratio (DPR) is presently 153.95%.

Broadstone Net Lease Company Profile

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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