Metis Global Partners LLC Boosts Stock Position in Broadstone Net Lease, Inc. $BNL

Metis Global Partners LLC boosted its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 30.8% in the second quarter, Holdings Channel reports. The institutional investor owned 31,251 shares of the company’s stock after purchasing an additional 7,362 shares during the period. Metis Global Partners LLC’s holdings in Broadstone Net Lease were worth $502,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its stake in shares of Broadstone Net Lease by 20.6% in the first quarter. Envestnet Asset Management Inc. now owns 543,987 shares of the company’s stock worth $9,270,000 after acquiring an additional 92,909 shares during the last quarter. Xponance Inc. boosted its stake in Broadstone Net Lease by 5.3% in the 1st quarter. Xponance Inc. now owns 14,298 shares of the company’s stock worth $244,000 after purchasing an additional 721 shares in the last quarter. Bleakley Financial Group LLC purchased a new stake in Broadstone Net Lease during the 1st quarter valued at about $548,000. Allianz Asset Management GmbH grew its position in Broadstone Net Lease by 87.3% during the 1st quarter. Allianz Asset Management GmbH now owns 1,288,892 shares of the company’s stock valued at $21,963,000 after purchasing an additional 600,633 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Broadstone Net Lease during the 1st quarter valued at about $6,963,000. 89.07% of the stock is owned by institutional investors.

Broadstone Net Lease Price Performance

NYSE BNL opened at $18.15 on Thursday. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 38.61 and a beta of 1.00. Broadstone Net Lease, Inc. has a 1-year low of $13.96 and a 1-year high of $18.87. The business’s fifty day moving average price is $18.36 and its 200-day moving average price is $17.08.

Broadstone Net Lease (NYSE:BNL) last posted 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). The firm had revenue of $114.17 million during the quarter, compared to the consensus estimate of $111.89 million. Broadstone Net Lease had a net margin of 20.04% and a return on equity of 2.91%. Broadstone Net Lease has set its FY 2025 guidance at 1.490-1.500 EPS. Equities research analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.

Broadstone Net Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 6.4%. The ex-dividend date is Wednesday, December 31st. Broadstone Net Lease’s dividend payout ratio is 246.81%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BNL. KeyCorp upgraded shares of Broadstone Net Lease from a “sector weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a research note on Tuesday, August 19th. Wolfe Research upgraded shares of Broadstone Net Lease from a “peer perform” rating to an “outperform” rating and set a $19.00 price objective for the company in a report on Monday, July 28th. UBS Group increased their target price 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. Wall Street Zen raised Broadstone Net Lease from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Broadstone Net Lease in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Broadstone Net Lease currently has a consensus rating of “Moderate Buy” and an average target price of $19.89.

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.