Broadstone Net Lease, Inc. $BNL Stock: State of Alaska Department of Revenue Cuts Holdings

State of Alaska Department of Revenue reduced its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 16.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 167,935 shares of the company’s stock after selling 34,113 shares during the quarter. State of Alaska Department of Revenue owned about 0.09% of Broadstone Net Lease worth $3,105,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BNL. QRG Capital Management Inc. lifted its holdings in shares of Broadstone Net Lease by 3.3% in the second quarter. QRG Capital Management Inc. now owns 19,899 shares of the company’s stock valued at $411,000 after buying an additional 639 shares during the period. Arizona State Retirement System boosted its stake in Broadstone Net Lease by 1.7% during the second quarter. Arizona State Retirement System now owns 52,865 shares of the company’s stock valued at $1,093,000 after buying an additional 865 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in Broadstone Net Lease by 5.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 19,294 shares of the company’s stock valued at $335,000 after buying an additional 944 shares in the last quarter. Kestra Advisory Services LLC boosted its stake in Broadstone Net Lease by 6.5% during the first quarter. Kestra Advisory Services LLC now owns 22,735 shares of the company’s stock valued at $415,000 after buying an additional 1,396 shares in the last quarter. Finally, Swiss National Bank grew its holdings in Broadstone Net Lease by 0.4% during the first quarter. Swiss National Bank now owns 374,300 shares of the company’s stock worth $6,838,000 after acquiring an additional 1,500 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Broadstone Net Lease Stock Performance

NYSE BNL opened at $18.14 on Friday. The stock has a market capitalization of $3.48 billion, a P/E ratio of 23.86 and a beta of 0.91. Broadstone Net Lease, Inc. has a 1 year low of $17.16 and a 1 year high of $23.10. The business’s fifty day moving average is $19.87 and its two-hundred day moving average is $20.37.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings data 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. The business had revenue of $122.31 million during the quarter, compared to analyst estimates 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, research analysts forecast that Broadstone Net Lease, Inc. will post 1.51 earnings per share for the current year.

Broadstone Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend was Wednesday, September 30th. Broadstone Net Lease’s dividend payout ratio is currently 153.95%.

Analysts Set New Price Targets

Several equities research analysts have commented on BNL shares. Cantor Fitzgerald boosted their price target on shares of Broadstone Net Lease from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Truist Financial upgraded shares of Broadstone Net Lease from a “hold” rating to a “buy” rating and reduced their price objective for the company from $22.00 to $21.00 in a research report on Thursday, October 1st. Weiss Ratings lowered shares of Broadstone Net Lease from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. BTIG Research lifted 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 note on Friday, June 26th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Broadstone Net Lease in a research note on Tuesday, September 15th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.67.

Insider Activity at Broadstone Net Lease

In related news, Director Richard Imperiale purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was acquired at an average price of $21.22 per share, for a total transaction of $106,100.00. Following the transaction, the director directly owned 26,250 shares of the company’s stock, valued at $557,025. This trade represents a 23.53% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.02% of the stock is currently owned by corporate insiders.

About Broadstone Net Lease

Broadstone Net Lease, Inc is a real estate investment trust (REIT) that owns and manages a diversified portfolio of single-tenant commercial properties. The company primarily invests in properties subject to long-term, triple-net leases, under which tenants generally are responsible for property taxes, insurance and maintenance costs.

Broadstone’s portfolio includes industrial, healthcare, restaurant and other commercial properties leased to tenants across a range of industries. Its business activities include acquiring, owning, leasing and managing income-producing real estate, with an emphasis on properties that can provide stable rental income over extended lease terms.

Founded in 2007, Broadstone Net Lease completed its initial public offering in 2020.