Canandaigua National Bank & Trust Co. Purchases Shares of 52,087 Broadstone Net Lease, Inc. $BNL

Canandaigua National Bank & Trust Co. purchased a new stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 52,087 shares of the company’s stock, valued at approximately $1,077,000.

Several other institutional investors have also recently made changes to their positions in the business. Bank of America Corp DE raised its position in Broadstone Net Lease by 8.7% in the first quarter. Bank of America Corp DE now owns 2,231,816 shares of the company’s stock worth $40,775,000 after acquiring an additional 178,546 shares during the period. Anson Funds Management LP grew its position in shares of Broadstone Net Lease by 50.0% during the 1st quarter. Anson Funds Management LP now owns 120,000 shares of the company’s stock valued at $2,192,000 after acquiring an additional 40,000 shares during the period. Amundi increased its stake in shares of Broadstone Net Lease by 4.3% in the 1st quarter. Amundi now owns 89,997 shares of the company’s stock worth $1,644,000 after purchasing an additional 3,682 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Broadstone Net Lease by 33.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 7,075 shares of the company’s stock worth $129,000 after purchasing an additional 1,788 shares in the last quarter. Finally, California State Teachers Retirement System raised its holdings in Broadstone Net Lease by 30.2% in the 1st quarter. California State Teachers Retirement System now owns 236,627 shares of the company’s stock worth $4,323,000 after purchasing an additional 54,892 shares during the period. Institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Trading Up 0.3%

Shares of NYSE BNL opened at $21.23 on Thursday. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of 27.93 and a beta of 0.92. Broadstone Net Lease, Inc. has a 12-month low of $16.48 and a 12-month high of $23.10. The firm’s 50-day moving average price is $21.31 and its 200-day moving average price is $20.04.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings data 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 company had revenue of $122.31 million for the quarter, compared to analysts’ expectations 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. On average, equities analysts predict that Broadstone Net Lease, Inc. will post 1.52 EPS for the current fiscal 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 paid a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Wednesday, September 30th. Broadstone Net Lease’s payout ratio is currently 153.95%.

Analyst Ratings Changes

BNL has been the subject of several recent research reports. Citigroup lowered Broadstone Net Lease from a “market perform” rating to a “market perform” rating in a report on Friday, June 12th. The Goldman Sachs Group lifted their price objective on Broadstone Net Lease from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Saturday, August 1st. KeyCorp boosted their price objective on Broadstone Net Lease from $20.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Truist Financial set a $22.00 target price on shares of Broadstone Net Lease in a report on Monday, June 8th. Finally, Cantor Fitzgerald lifted their price target on shares of Broadstone Net Lease from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $22.78.

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.