Principal Financial Group Inc. Sells 52,073 Shares of Broadstone Net Lease, Inc. $BNL

Principal Financial Group Inc. lowered its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 7.8% in the first quarter, Holdings Channel reports. The firm owned 612,896 shares of the company’s stock after selling 52,073 shares during the period. Principal Financial Group Inc.’s holdings in Broadstone Net Lease were worth $11,198,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BNL. State Street Corp raised its holdings in Broadstone Net Lease by 2.2% in the second quarter. State Street Corp now owns 8,388,518 shares of the company’s stock worth $136,998,000 after purchasing an additional 178,186 shares during the period. Alliancebernstein L.P. boosted its position in shares of Broadstone Net Lease by 2.7% during the second quarter. Alliancebernstein L.P. now owns 4,791,006 shares of the company’s stock worth $76,896,000 after purchasing an additional 124,589 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Broadstone Net Lease by 391.1% in the 4th quarter. Invesco Ltd. now owns 4,565,429 shares of the company’s stock valued at $79,302,000 after buying an additional 3,635,809 shares during the period. Balyasny Asset Management L.P. grew its holdings in shares of 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 valued at $69,579,000 after buying an additional 2,951,207 shares during the period. Finally, Nuveen LLC increased its position in shares of Broadstone Net Lease by 3.7% in the 4th quarter. Nuveen LLC now owns 4,310,108 shares of the company’s stock valued at $74,867,000 after buying an additional 152,684 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on BNL. 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 note on Friday, June 26th. Citizens Jmp cut Broadstone Net Lease from an “outperform” rating to a “market perform” rating in a research note on Friday, June 12th. Truist Financial set a $22.00 price target on Broadstone Net Lease in a report on Monday, June 8th. BMO Capital Markets raised their price target on Broadstone Net Lease from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, July 10th. Finally, Citigroup lowered Broadstone Net Lease from a “market perform” rating to a “market perform” rating in a research report on Friday, June 12th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Broadstone Net Lease has an average rating of “Moderate Buy” and an average target price of $21.70.

Broadstone Net Lease Stock Up 0.0%

Broadstone Net Lease stock opened at $22.37 on Friday. The company has a 50 day moving average of $21.10 and a 200-day moving average of $19.83. Broadstone Net Lease, Inc. has a twelve month low of $15.67 and a twelve month high of $23.10. The stock has a market capitalization of $4.28 billion, a PE ratio of 34.41 and a beta of 0.94.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. Broadstone Net Lease had a net margin of 27.01% and a return on equity of 4.17%. The business had revenue of $121.40 million for the quarter, compared to analyst estimates of $118.84 million. Broadstone Net Lease has set its FY 2026 guidance at 1.530-1.570 EPS. Equities analysts anticipate that Broadstone Net Lease, Inc. will post 1.52 EPS for the current fiscal year.

About Broadstone Net Lease

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.