Xponance Inc. Buys 580 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Xponance Inc. grew its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 5.1% during the second quarter, Holdings Channel reports. The firm owned 11,922 shares of the company’s stock after purchasing an additional 580 shares during the period. Xponance Inc.’s holdings in Broadstone Net Lease were worth $189,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BNL. V3 Capital Management L.P. bought a new position in shares of Broadstone Net Lease in the first quarter valued at approximately $20,747,000. Lasalle Investment Management Securities LLC bought a new position in shares of Broadstone Net Lease in the first quarter valued at approximately $18,226,000. Victory Capital Management Inc. lifted its holdings in shares of Broadstone Net Lease by 2,302.8% in the second quarter. Victory Capital Management Inc. now owns 1,073,735 shares of the company’s stock valued at $17,040,000 after purchasing an additional 1,029,048 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Broadstone Net Lease by 431.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,176,195 shares of the company’s stock valued at $18,431,000 after purchasing an additional 955,066 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Broadstone Net Lease by 159.4% in the first quarter. Janus Henderson Group PLC now owns 1,394,892 shares of the company’s stock valued at $21,858,000 after purchasing an additional 857,141 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on BNL shares. The Goldman Sachs Group increased their price target on Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a research report on Friday, September 13th. Wedbush started coverage on Broadstone Net Lease in a research report on Monday, August 19th. They set an “outperform” rating and a $20.00 price target for the company. KeyCorp started coverage on Broadstone Net Lease in a research report on Wednesday, June 12th. They set a “sector weight” rating for the company. Finally, Truist Financial increased their price target on Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $18.00.

Broadstone Net Lease Price Performance

NYSE:BNL opened at $18.48 on Thursday. The business has a fifty day simple moving average of $18.08 and a two-hundred day simple moving average of $16.36. Broadstone Net Lease, Inc. has a 1 year low of $13.68 and a 1 year high of $19.15. The company has a market capitalization of $3.48 billion, a P/E ratio of 19.24 and a beta of 1.11.

Broadstone Net Lease (NYSE:BNL) last released its earnings results on Tuesday, July 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). Broadstone Net Lease had a return on equity of 4.86% and a net margin of 36.78%. The firm had revenue of $105.91 million during the quarter, compared to analysts’ expectations of $105.95 million. During the same period in the prior year, the business earned $0.35 earnings per share. As a group, analysts anticipate that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current year.

Broadstone Net Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 6.28%. The ex-dividend date of this dividend is Monday, September 30th. Broadstone Net Lease’s dividend payout ratio is currently 120.83%.

Broadstone Net Lease Company Profile

BNL is an industrial-focused, diversified net lease REIT that acquires, owns, and manages primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. Utilizing an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting, as of September 30, 2023, BNL's diversified portfolio consisted of 800 individual net leased commercial properties with 793 properties located in 44 U.S.