Mitsubishi UFJ Asset Management Co. Ltd. Acquires 5,730 Shares of Broadstone Net Lease, Inc. $BNL

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 4.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 136,157 shares of the company’s stock after acquiring an additional 5,730 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Broadstone Net Lease were worth $2,185,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BNL. Wolff Wiese Magana LLC bought a new position in shares of Broadstone Net Lease during the 2nd quarter worth approximately $45,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Broadstone Net Lease during the first quarter worth $115,000. CWM LLC raised its stake in Broadstone Net Lease by 885.2% during the second quarter. CWM LLC now owns 7,773 shares of the company’s stock worth $125,000 after acquiring an additional 6,984 shares in the last quarter. Arrow Investment Advisors LLC bought a new position in shares of Broadstone Net Lease during the second quarter valued at $172,000. Finally, FJ Capital Management LLC acquired a new stake in shares of Broadstone Net Lease in the 1st quarter valued at $201,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. JMP Securities reiterated a “market outperform” rating and set a $21.00 target price on shares of Broadstone Net Lease in a research report on Monday, September 29th. UBS Group upped their price objective on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, August 15th. Wall Street Zen raised shares of Broadstone Net Lease from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. KeyCorp raised Broadstone Net Lease from a “sector weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a report on Tuesday, August 19th. Finally, Wolfe Research upgraded Broadstone Net Lease from a “peer perform” rating to an “outperform” rating and set a $19.00 price target on the stock in a research report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.89.

Broadstone Net Lease Price Performance

BNL opened at $18.19 on Friday. Broadstone Net Lease, Inc. has a one year low of $13.96 and a one year high of $18.87. The company’s 50 day simple moving average is $18.35 and its 200-day simple moving average is $17.09. The stock has a market capitalization of $3.44 billion, a P/E ratio of 38.69 and a beta of 1.00.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.23). Broadstone Net Lease had a return on equity of 2.91% and a net margin of 20.04%.The company had revenue of $114.17 million during the quarter, compared to the consensus estimate of $111.89 million. Broadstone Net Lease has set its FY 2025 guidance at 1.490-1.500 EPS. As a group, analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.29 per share. The ex-dividend date is Wednesday, December 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.4%. Broadstone Net Lease’s payout ratio is presently 246.81%.

About Broadstone Net Lease

Broadstone Net Lease, Inc (the Corporation) is a Maryland corporation formed on October 18, 2007, that elected to be taxed as a real estate investment trust (REIT) commencing with the taxable year ended December 31, 2008. Broadstone Net Lease, LLC (the Corporation’s operating company, or the OP), is the entity through which the Corporation conducts its business and owns (either directly or through subsidiaries) all of the Corporation’s properties.