The Manufacturers Life Insurance Company Invests $1.96 Million in Broadstone Net Lease, Inc. $BNL

The Manufacturers Life Insurance Company bought a new stake in Broadstone Net Lease, Inc. (NYSE:BNL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 94,747 shares of the company’s stock, valued at approximately $1,958,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. California State Teachers Retirement System boosted its holdings in shares of 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 buying an additional 54,892 shares during the last quarter. Quantinno Capital Management LP increased its holdings in Broadstone Net Lease by 164.8% during the first quarter. Quantinno Capital Management LP now owns 91,618 shares of the company’s stock worth $1,674,000 after buying an additional 57,021 shares during the last quarter. LSV Asset Management increased its holdings in Broadstone Net Lease by 60.9% during the fourth quarter. LSV Asset Management now owns 2,156,500 shares of the company’s stock worth $37,458,000 after buying an additional 816,100 shares during the last quarter. TritonPoint Partners LLC bought a new stake in Broadstone Net Lease in the fourth quarter worth about $1,595,000. Finally, 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. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BNL shares. The Goldman Sachs Group increased their target price on shares of Broadstone Net Lease from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Saturday, August 1st. Citigroup lowered Broadstone Net Lease from a “market perform” rating to a “market perform” rating in a report on Friday, June 12th. BMO Capital Markets raised their target price 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. Citizens Jmp lowered Broadstone Net Lease from an “outperform” rating to a “market perform” rating in a research note on Friday, June 12th. Finally, KeyCorp upped their price target on Broadstone Net Lease from $20.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.78.

Broadstone Net Lease Stock Down 0.6%

NYSE BNL opened at $20.90 on Friday. The company’s 50 day moving average is $21.48 and its 200-day moving average is $20.38. Broadstone Net Lease, Inc. has a 12-month low of $17.16 and a 12-month high of $23.10. The firm has a market cap of $4.01 billion, a P/E ratio of 27.50 and a beta of 0.91.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 30.61% and a return on equity of 4.83%. Broadstone Net Lease has set its FY 2026 guidance at 1.550-1.570 EPS. Equities analysts expect that Broadstone Net Lease, Inc. will post 1.53 EPS 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. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.2925 per share. 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 is currently 153.95%.

Insider Activity

In related news, Director Richard Imperiale purchased 5,000 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was purchased at an average cost of $21.22 per share, with a total value of $106,100.00. Following the completion of the acquisition, the director directly owned 26,250 shares of the company’s stock, valued at approximately $557,025. The trade was a 23.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 1.02% of the stock is currently owned by corporate insiders.

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.