Legal & General Group Plc Has $15.26 Million Stock Holdings in Broadstone Net Lease, Inc. $BNL

Legal & General Group Plc lowered its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 1.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 950,531 shares of the company’s stock after selling 16,340 shares during the period. Legal & General Group Plc owned 0.50% of Broadstone Net Lease worth $15,256,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Jane Street Group LLC boosted its position in Broadstone Net Lease by 292.3% during the 1st quarter. Jane Street Group LLC now owns 553,738 shares of the company’s stock worth $9,436,000 after buying an additional 412,604 shares during the period. LPL Financial LLC increased its position in Broadstone Net Lease by 17.1% in the 1st quarter. LPL Financial LLC now owns 131,654 shares of the company’s stock valued at $2,243,000 after acquiring an additional 19,190 shares during the period. Vanguard Group Inc. raised its stake in shares of Broadstone Net Lease by 1.0% during the first quarter. Vanguard Group Inc. now owns 27,711,994 shares of the company’s stock valued at $472,212,000 after acquiring an additional 266,900 shares during the last quarter. Canandaigua National Trust Co of Florida bought a new position in shares of Broadstone Net Lease during the second quarter valued at $965,000. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Broadstone Net Lease during the first quarter worth $4,870,000. Institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Price Performance

Shares of NYSE:BNL opened at $17.57 on Friday. Broadstone Net Lease, Inc. has a 1 year low of $13.96 and a 1 year high of $18.87. The business’s 50-day moving average is $18.23 and its 200-day moving average is $17.24. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 37.38 and a beta of 1.00.

Broadstone Net Lease (NYSE:BNL) last issued its earnings results on Wednesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.23). Broadstone Net Lease had a return on equity of 2.91% and a net margin of 20.04%.The business had revenue of $114.17 million during the quarter, compared to the consensus estimate of $111.89 million. Broadstone Net Lease has set its FY 2025 guidance at 1.490-1.500 EPS. Analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date is Wednesday, December 31st. Broadstone Net Lease’s payout ratio is presently 246.81%.

Analyst Ratings Changes

Several research analysts recently issued reports on BNL shares. KeyCorp raised Broadstone Net Lease from a “sector weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research report on Tuesday, August 19th. UBS Group increased their price target on Broadstone Net Lease from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Friday, August 15th. BTIG Research reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Broadstone Net Lease in a research note on Wednesday, October 1st. Truist Financial upped their target price on Broadstone Net Lease from $18.00 to $20.00 and gave the company a “hold” rating in a report on Tuesday. Finally, Cantor Fitzgerald assumed coverage on shares of Broadstone Net Lease in a report on Wednesday, October 1st. They set an “overweight” rating and a $21.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $20.11.

Broadstone Net Lease Company Profile

Broadstone Net Lease, Inc (the Corporation) is a Maryland corporation formed on October 18, 2007, that elected to be taxed as a real estate investment trust (REIT) commencing with the taxable year ended December 31, 2008. Broadstone Net Lease, LLC (the Corporation’s operating company, or the OP), is the entity through which the Corporation conducts its business and owns (either directly or through subsidiaries) all of the Corporation’s properties.