JPMorgan Chase & Co. Lowers Position in Broadstone Net Lease, Inc. $BNL

JPMorgan Chase & Co. decreased its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 2.7% in the third quarter, Holdings Channel.com reports. The fund owned 2,080,744 shares of the company’s stock after selling 58,364 shares during the period. JPMorgan Chase & Co.’s holdings in Broadstone Net Lease were worth $37,183,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Balyasny Asset Management L.P. lifted its stake in Broadstone Net Lease by 213.2% in the 2nd quarter. Balyasny Asset Management L.P. now owns 4,335,166 shares of the company’s stock worth $69,579,000 after purchasing an additional 2,951,207 shares in the last quarter. Norges Bank bought a new stake in shares of Broadstone Net Lease in the second quarter worth about $39,554,000. Boston Partners lifted its position in shares of Broadstone Net Lease by 339.0% in the second quarter. Boston Partners now owns 2,079,251 shares of the company’s stock worth $33,372,000 after buying an additional 1,605,603 shares in the last quarter. LSV Asset Management boosted its stake in Broadstone Net Lease by 135.9% during the second quarter. LSV Asset Management now owns 976,200 shares of the company’s stock valued at $15,668,000 after buying an additional 562,400 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new position in Broadstone Net Lease during the 2nd quarter valued at approximately $8,426,000. 89.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BNL has been the topic of several recent research reports. Citizens Jmp reaffirmed a “market outperform” rating and set a $21.00 price objective on shares of Broadstone Net Lease in a report on Tuesday, December 2nd. Wall Street Zen upgraded shares of Broadstone Net Lease from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Truist Financial upped their price target on shares of Broadstone Net Lease from $18.00 to $20.00 and gave the company a “hold” rating in a research note on Tuesday, November 25th. Morgan Stanley lifted their price objective on shares of Broadstone Net Lease from $18.00 to $19.00 and gave the stock a “positive” rating in a research note on Monday, December 29th. Finally, Cantor Fitzgerald upped their target price on shares of Broadstone Net Lease from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Tuesday. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.90.

Broadstone Net Lease Stock Down 0.0%

Shares of BNL opened at $19.41 on Friday. The business has a fifty day moving average of $18.51 and a 200 day moving average of $18.22. The company has a market cap of $3.71 billion, a PE ratio of 38.81 and a beta of 1.00. Broadstone Net Lease, Inc. has a 52-week low of $13.96 and a 52-week high of $19.91.

Broadstone Net Lease (NYSE:BNL) last announced its earnings results on Wednesday, February 18th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.20). Broadstone Net Lease had a net margin of 21.25% and a return on equity of 3.17%. Broadstone Net Lease has set its FY 2026 guidance at 1.530-1.57 EPS. As a group, research analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a $0.2925 dividend. This is an increase from Broadstone Net Lease’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.17 dividend on an annualized basis and a yield of 6.0%. Broadstone Net Lease’s dividend payout ratio is currently 232.00%.

Broadstone Net Lease Profile

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.