Legal & General Group Plc Acquires New Holdings in Broadstone Net Lease, Inc. $BNL

Legal & General Group Plc bought a new position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) during the second quarter, Holdings Channel reports. The fund bought 1,187,067 shares of the company’s stock, valued at approximately $24,537,000.

Several other institutional investors and hedge funds have also bought and sold shares of BNL. CIBC Private Wealth Group LLC boosted its holdings 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 purchasing an additional 600 shares during the period. American Century Companies Inc. increased its holdings in shares of Broadstone Net Lease by 0.9% in the second quarter. American Century Companies Inc. now owns 77,865 shares of the company’s stock worth $1,250,000 after purchasing an additional 664 shares during the period. Lazard Asset Management LLC raised its position in shares of Broadstone Net Lease by 0.9% in the second quarter. Lazard Asset Management LLC now owns 89,265 shares of the company’s stock worth $1,432,000 after buying an additional 768 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in shares of Broadstone Net Lease by 5.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 19,294 shares of the company’s stock worth $335,000 after buying an additional 944 shares in the last quarter. Finally, FJ Capital Management LLC boosted its stake in Broadstone Net Lease by 8.2% during the second quarter. FJ Capital Management LLC now owns 12,754 shares of the company’s stock valued at $205,000 after buying an additional 965 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Broadstone Net Lease Stock Performance

BNL opened at $21.13 on Friday. The stock has a market capitalization of $4.05 billion, a P/E ratio of 27.80 and a beta of 0.92. The stock has a 50-day moving average price of $21.49 and a 200-day moving average price of $20.33. Broadstone Net Lease, Inc. has a 12-month low of $17.16 and a 12-month high of $23.10.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings data 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. The company had revenue of $122.31 million for the quarter, compared to analysts’ expectations of $121.63 million. Broadstone Net Lease had a return on equity of 4.83% and a net margin of 30.61%.Broadstone Net Lease has set its FY 2026 guidance at 1.550-1.570 EPS. On average, equities research analysts predict that Broadstone Net Lease, Inc. will post 1.53 EPS for the current year.

Broadstone Net Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.2925 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.17 annualized dividend and a dividend yield of 5.5%. Broadstone Net Lease’s dividend payout ratio (DPR) is 153.95%.

Insider Activity at Broadstone Net Lease

In other Broadstone Net Lease news, Director Richard P. Imperiale acquired 5,000 shares of the stock in a transaction dated Thursday, August 20th. The stock was purchased at an average cost of $21.22 per share, for a total transaction of $106,100.00. Following the acquisition, the director owned 26,250 shares in the company, valued at $557,025. The trade was a 23.53% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.02% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on BNL shares. The Goldman Sachs Group boosted their target price on Broadstone Net Lease from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Saturday, August 1st. BMO Capital Markets raised their target price on shares of Broadstone Net Lease from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, July 10th. Citigroup cut shares of Broadstone Net Lease from a “market perform” rating to a “market perform” rating in a research note on Friday, June 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Broadstone Net Lease in a report on Friday, July 31st. Finally, Cantor Fitzgerald raised their price objective on shares of Broadstone Net Lease from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Seven research 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.78.

About Broadstone Net Lease

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.