LSV Asset Management Acquires 562,400 Shares of Broadstone Net Lease, Inc. $BNL

LSV Asset Management lifted its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 135.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 976,200 shares of the company’s stock after acquiring an additional 562,400 shares during the quarter. LSV Asset Management owned approximately 0.52% of Broadstone Net Lease worth $15,668,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BNL. Allianz Asset Management GmbH increased 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 period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Broadstone Net Lease during the 1st quarter valued at about $6,963,000. Legato Capital Management LLC increased its position in shares of Broadstone Net Lease by 187.6% during the first quarter. Legato Capital Management LLC now owns 105,209 shares of the company’s stock valued at $1,793,000 after buying an additional 68,624 shares during the period. Cetera Investment Advisers purchased a new position in shares of Broadstone Net Lease during the first quarter valued at about $7,259,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Broadstone Net Lease by 10.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 108,124 shares of the company’s stock worth $1,842,000 after buying an additional 10,164 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. KeyCorp raised Broadstone Net Lease from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research report on Tuesday, August 19th. BTIG Research restated a “buy” rating and issued a $22.00 target price on shares of Broadstone Net Lease in a research note on Wednesday, October 1st. The Goldman Sachs Group upgraded Broadstone Net Lease from a “sell” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Thursday, August 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Broadstone Net Lease in a report on Wednesday, October 8th. 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 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Broadstone Net Lease presently has an average rating of “Moderate Buy” and a consensus price target of $19.89.

Broadstone Net Lease Stock Performance

Shares of BNL stock opened at $18.08 on Thursday. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 38.46 and a beta of 1.00. Broadstone Net Lease, Inc. has a one year low of $13.96 and a one year high of $18.87. The company’s 50-day moving average is $18.32 and its 200 day moving average is $17.16.

Broadstone Net Lease (NYSE:BNL) last issued its earnings results on Wednesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $114.17 million during the quarter, compared to analysts’ expectations of $111.89 million. Broadstone Net Lease has set its FY 2025 guidance at 1.490-1.500 EPS. As a group, research analysts predict that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

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

Broadstone Net Lease 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.