Glenmede Trust Co. NA Cuts Stock Position in Broadstone Net Lease, Inc. $BNL

Glenmede Trust Co. NA lessened its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 24.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 90,655 shares of the company’s stock after selling 29,234 shares during the period. Glenmede Trust Co. NA’s holdings in Broadstone Net Lease were worth $1,656,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. CIBC Private Wealth Group LLC grew its stake in shares of Broadstone Net Lease by 42.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,000 shares of the company’s stock worth $35,000 after buying an additional 600 shares in the last quarter. American Century Companies Inc. raised its position in shares of Broadstone Net Lease by 0.9% during the 2nd quarter. American Century Companies Inc. now owns 77,865 shares of the company’s stock valued at $1,250,000 after buying an additional 664 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Broadstone Net Lease by 0.9% in the 2nd quarter. Lazard Asset Management LLC now owns 89,265 shares of the company’s stock valued at $1,432,000 after acquiring an additional 768 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in Broadstone Net Lease by 5.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 19,294 shares of the company’s stock worth $335,000 after acquiring an additional 944 shares in the last quarter. Finally, FJ Capital Management LLC increased its stake in Broadstone Net Lease by 8.2% during the second quarter. FJ Capital Management LLC now owns 12,754 shares of the company’s stock worth $205,000 after acquiring an additional 965 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

BNL has been the subject of several analyst reports. Cantor Fitzgerald raised their price objective on Broadstone Net Lease from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. BTIG Research raised their price target 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. BMO Capital Markets boosted their price objective on shares of Broadstone Net Lease from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, July 10th. Truist Financial set a $22.00 target price on shares of Broadstone Net Lease in a research note on Monday, June 8th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Broadstone Net Lease in a research note on Friday, July 31st. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.78.

Broadstone Net Lease Stock Up 0.3%

Shares of Broadstone Net Lease stock opened at $21.23 on Thursday. The stock’s fifty day moving average is $21.31 and its two-hundred day moving average is $20.04. The company has a market capitalization of $4.06 billion, a PE ratio of 27.93 and a beta of 0.92. Broadstone Net Lease, Inc. has a 52 week low of $16.48 and a 52 week high of $23.10.

Broadstone Net Lease (NYSE:BNL) last released its earnings results on Wednesday, July 29th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. The business had revenue of $122.31 million during the quarter, compared to the consensus estimate of $121.63 million. Broadstone Net Lease had a return on equity of 4.83% and a net margin of 30.61%.Broadstone Net Lease has set its FY 2026 guidance at 1.550-1.570 EPS. As a group, research analysts anticipate that Broadstone Net Lease, Inc. will post 1.52 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.2925 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 5.5%. Broadstone Net Lease’s dividend payout ratio (DPR) is 153.95%.

Broadstone Net Lease Company 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.