Renaissance Technologies LLC Sells 192,800 Shares of Broadstone Net Lease, Inc. $BNL

Renaissance Technologies LLC decreased its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 75.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,900 shares of the company’s stock after selling 192,800 shares during the quarter. Renaissance Technologies LLC’s holdings in Broadstone Net Lease were worth $1,131,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. CIBC Private Wealth Group LLC grew its holdings in shares of Broadstone Net Lease by 42.9% during 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 last quarter. Advisory Services Network LLC acquired a new position in Broadstone Net Lease during the 3rd quarter worth approximately $61,000. EverSource Wealth Advisors LLC lifted its stake in Broadstone Net Lease by 80.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,261 shares of the company’s stock valued at $68,000 after purchasing an additional 1,906 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Broadstone Net Lease by 33.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,527 shares of the company’s stock valued at $96,000 after purchasing an additional 1,385 shares during the last quarter. Finally, KBC Group NV boosted its position in Broadstone Net Lease by 38.1% in the first quarter. KBC Group NV now owns 7,352 shares of the company’s stock valued at $134,000 after buying an additional 2,028 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

BNL has been the subject of several research analyst reports. Citizens Jmp downgraded shares of Broadstone Net Lease from an “outperform” rating to a “market perform” rating in a report on Friday, June 12th. Truist Financial set a $22.00 price objective on Broadstone Net Lease in a research report on Monday, June 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Broadstone Net Lease in a report on Friday, July 31st. Cantor Fitzgerald increased their target price on Broadstone Net Lease from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Finally, BMO Capital Markets lifted their price target on Broadstone Net Lease from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, July 10th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.78.

Broadstone Net Lease Stock Up 0.8%

Shares of NYSE BNL opened at $21.24 on Friday. The firm has a market cap of $4.08 billion, a PE ratio of 27.95 and a beta of 0.92. The company’s fifty day simple moving average is $21.40 and its 200 day simple moving average is $20.14. Broadstone Net Lease, Inc. has a 12-month low of $16.58 and a 12-month high of $23.10.

Broadstone Net Lease (NYSE:BNL) 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. On average, equities analysts predict that Broadstone Net Lease, Inc. will post 1.52 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $0.2925 dividend. 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 is 153.95%.

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.