Van ECK Associates Corp Sells 52,958 Shares of Broadstone Net Lease, Inc. $BNL

Van ECK Associates Corp lowered its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 49.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 54,158 shares of the company’s stock after selling 52,958 shares during the period. Van ECK Associates Corp’s holdings in Broadstone Net Lease were worth $1,119,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BNL. Allworth Financial LP bought a new position in Broadstone Net Lease in the second quarter valued at $34,000. CIBC Private Wealth Group LLC lifted its stake in Broadstone Net Lease by 42.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,000 shares of the company’s stock worth $35,000 after purchasing an additional 600 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Broadstone Net Lease in the 3rd quarter worth about $61,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Broadstone Net Lease by 80.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,261 shares of the company’s stock worth $68,000 after purchasing an additional 1,906 shares in the last quarter. Finally, Global Retirement Partners LLC bought a new position in shares of Broadstone Net Lease during the 2nd quarter valued at about $74,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Richard Imperiale bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were bought at an average cost of $21.22 per share, with a total value of $106,100.00. Following the completion of the purchase, the director directly owned 26,250 shares in the company, valued at $557,025. This represents a 23.53% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.02% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Citigroup cut Broadstone Net Lease from a “market perform” rating to a “market perform” rating in a report on Friday, June 12th. Truist Financial set a $22.00 price target on shares of Broadstone Net Lease in a research report on Monday, June 8th. BMO Capital Markets lifted their price target on shares of Broadstone Net Lease from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, July 10th. KeyCorp boosted their price objective on shares of Broadstone Net Lease from $20.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Finally, Citizens Jmp cut shares of Broadstone Net Lease from an “outperform” rating to a “market perform” rating in a research note on Friday, June 12th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $22.78.

Broadstone Net Lease Trading Down 0.4%

NYSE BNL opened at $20.78 on Friday. The firm has a market cap of $3.99 billion, a PE ratio of 27.34 and a beta of 0.91. Broadstone Net Lease, Inc. has a 1-year low of $17.16 and a 1-year high of $23.10. The stock has a 50-day moving average of $21.48 and a 200-day moving average of $20.38.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. The business had revenue of $122.31 million for the quarter, compared to analyst estimates 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, equities research analysts forecast that Broadstone Net Lease, Inc. will post 1.53 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $0.2925 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.17 annualized dividend and a dividend yield of 5.6%. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 153.95%.

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.