Broadstone Net Lease, Inc. $BNL Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 46.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,708 shares of the company’s stock after selling 25,024 shares during the period. Teacher Retirement System of Texas’ holdings in Broadstone Net Lease were worth $461,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Evermay Wealth Management LLC raised its stake in shares of Broadstone Net Lease by 1.4% in the second quarter. Evermay Wealth Management LLC now owns 47,560 shares of the company’s stock valued at $766,000 after acquiring an additional 656 shares in the last quarter. Xponance Inc. increased its holdings in Broadstone Net Lease by 5.3% during the 1st quarter. Xponance Inc. now owns 14,298 shares of the company’s stock worth $244,000 after purchasing an additional 721 shares during the period. Asset Management One Co. Ltd. raised its position in Broadstone Net Lease by 0.4% in the 2nd quarter. Asset Management One Co. Ltd. now owns 374,475 shares of the company’s stock valued at $6,010,000 after purchasing an additional 1,381 shares in the last quarter. Brighton Jones LLC boosted its stake in shares of Broadstone Net Lease by 10.9% in the 2nd quarter. Brighton Jones LLC now owns 14,358 shares of the company’s stock valued at $230,000 after buying an additional 1,413 shares during the period. Finally, QRG Capital Management Inc. grew its position in shares of Broadstone Net Lease by 10.6% during the second quarter. QRG Capital Management Inc. now owns 15,566 shares of the company’s stock worth $250,000 after buying an additional 1,488 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. The Goldman Sachs Group raised shares of Broadstone Net Lease from a “sell” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Thursday, August 21st. UBS Group raised their price objective on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, August 15th. Wolfe Research raised 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 research report on Monday, July 28th. JMP Securities reissued a “market outperform” rating and issued a $21.00 target price on shares of Broadstone Net Lease in a report on Monday, September 29th. Finally, BTIG Research restated a “buy” rating and issued a $22.00 price target on shares of Broadstone Net Lease in a research note on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Broadstone Net Lease has an average rating of “Moderate Buy” and a consensus price target of $19.89.

Broadstone Net Lease Trading Up 1.9%

Shares of Broadstone Net Lease stock opened at $18.13 on Monday. The company has a fifty day simple moving average of $18.38 and a 200-day simple moving average of $17.04. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 38.56 and a beta of 1.00. Broadstone Net Lease, Inc. has a 12-month low of $13.96 and a 12-month high of $18.87.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly 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 net margin of 20.04% and a return on equity of 2.91%. The company 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. On average, analysts forecast that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Announces Dividend

The company 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 $0.29 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.4%. Broadstone Net Lease’s dividend payout ratio is 246.81%.

About Broadstone Net Lease

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.