American Century Companies Inc. Boosts Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

American Century Companies Inc. increased its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 8.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,988 shares of the company’s stock after purchasing an additional 4,357 shares during the period. American Century Companies Inc.’s holdings in Broadstone Net Lease were worth $920,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. V3 Capital Management L.P. purchased a new position in shares of Broadstone Net Lease in the 1st quarter worth $20,747,000. Lasalle Investment Management Securities LLC purchased a new position in Broadstone Net Lease in the first quarter valued at about $18,226,000. Victory Capital Management Inc. grew its holdings in Broadstone Net Lease by 2,302.8% in the second quarter. Victory Capital Management Inc. now owns 1,073,735 shares of the company’s stock worth $17,040,000 after purchasing an additional 1,029,048 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Broadstone Net Lease by 431.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,176,195 shares of the company’s stock valued at $18,431,000 after acquiring an additional 955,066 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Broadstone Net Lease by 159.4% during the first quarter. Janus Henderson Group PLC now owns 1,394,892 shares of the company’s stock valued at $21,858,000 after buying an additional 857,141 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BNL shares. Truist Financial raised their target price on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Friday, August 16th. The Goldman Sachs Group lifted their target price on Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a research report on Friday, September 13th. KeyCorp began coverage on shares of Broadstone Net Lease in a research report on Wednesday, June 12th. They issued a “sector weight” rating for the company. Finally, Wedbush assumed coverage on shares of Broadstone Net Lease in a research report on Monday, August 19th. They set an “outperform” rating and a $20.00 price objective for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $18.00.

Broadstone Net Lease Stock Performance

Shares of Broadstone Net Lease stock opened at $18.66 on Wednesday. The firm has a fifty day moving average of $18.07 and a two-hundred day moving average of $16.35. The company has a market cap of $3.52 billion, a P/E ratio of 19.44 and a beta of 1.11. Broadstone Net Lease, Inc. has a one year low of $13.68 and a one year high of $19.15.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.15). Broadstone Net Lease had a return on equity of 4.86% and a net margin of 36.78%. The company had revenue of $105.91 million for the quarter, compared to analysts’ expectations of $105.95 million. During the same period in the previous year, the business posted $0.35 EPS. As a group, equities analysts predict that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current year.

Broadstone Net Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.29 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.16 annualized dividend and a yield of 6.22%. Broadstone Net Lease’s payout ratio is 120.83%.

About Broadstone Net Lease

BNL is an industrial-focused, diversified net lease REIT that acquires, owns, and manages primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. Utilizing an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting, as of September 30, 2023, BNL's diversified portfolio consisted of 800 individual net leased commercial properties with 793 properties located in 44 U.S.