34,113 Broadstone Net Lease, Inc. $BNL Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 16.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 167,935 shares of the company’s stock after selling 34,113 shares during the quarter. State of Alaska Department of Revenue’s holdings in Broadstone Net Lease were worth $3,105,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Broadstone Net Lease during the second quarter valued at $712,332,000. Bank of New York Mellon Corp acquired a new position in Broadstone Net Lease during the second quarter valued at $39,745,000. Wellington Management Group LLP acquired a new position in Broadstone Net Lease during the second quarter valued at $35,709,000. Bank of America Corp DE acquired a new position in Broadstone Net Lease during the second quarter valued at $32,978,000. Finally, Legal & General Group Plc purchased a new stake in Broadstone Net Lease in the 2nd quarter worth about $24,537,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Stock Down 0.1%

Shares of NYSE:BNL opened at $18.14 on Friday. The firm has a fifty day moving average of $19.87 and a two-hundred day moving average of $20.37. The firm has a market capitalization of $3.48 billion, a P/E ratio of 23.86 and a beta of 0.91. Broadstone Net Lease, Inc. has a 12-month low of $17.16 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 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. Broadstone Net Lease had a net margin of 30.61% and a return on equity of 4.83%. The business had revenue of $122.31 million for the quarter, compared to analysts’ expectations of $121.63 million. Broadstone Net Lease has set its FY 2026 guidance at 1.550-1.570 EPS. Equities research analysts expect that Broadstone Net Lease, Inc. will post 1.51 earnings per share for the current fiscal year.

Broadstone Net Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a dividend of $0.2925 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.17 dividend on an annualized basis and a yield of 6.5%. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 153.95%.

Insider Transactions at Broadstone Net Lease

In other news, Director Richard Imperiale acquired 5,000 shares of Broadstone Net Lease stock in a transaction that occurred on Thursday, August 20th. The stock was purchased at an average price of $21.22 per share, with a total value of $106,100.00. Following the completion of the transaction, the director owned 26,250 shares in the company, valued at approximately $557,025. This trade represents a 23.53% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on BNL shares. BTIG Research raised their price objective on Broadstone Net Lease from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. Cantor Fitzgerald upped their target price on Broadstone Net Lease from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Weiss Ratings downgraded Broadstone Net Lease from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Truist Financial raised shares of Broadstone Net Lease from a “hold” rating to a “buy” rating and reduced their price target for the stock from $22.00 to $21.00 in a research report on Thursday, October 1st. Finally, The Goldman Sachs Group increased their price target on shares of Broadstone Net Lease from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Saturday, August 1st. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.67.

Broadstone Net Lease Company Profile

Broadstone Net Lease, Inc is a real estate investment trust (REIT) that owns and manages a diversified portfolio of single-tenant commercial properties. The company primarily invests in properties subject to long-term, triple-net leases, under which tenants generally are responsible for property taxes, insurance and maintenance costs.

Broadstone’s portfolio includes industrial, healthcare, restaurant and other commercial properties leased to tenants across a range of industries. Its business activities include acquiring, owning, leasing and managing income-producing real estate, with an emphasis on properties that can provide stable rental income over extended lease terms.

Founded in 2007, Broadstone Net Lease completed its initial public offering in 2020.