Glenmede Trust Co. NA Sells 29,234 Shares of Broadstone Net Lease, Inc. $BNL

Glenmede Trust Co. NA trimmed its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 24.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,655 shares of the company’s stock after selling 29,234 shares during the period. Glenmede Trust Co. NA’s holdings in Broadstone Net Lease were worth $1,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. CIBC Private Wealth Group LLC raised its holdings in shares of Broadstone Net Lease by 42.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,000 shares of the company’s stock valued at $35,000 after purchasing an additional 600 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Broadstone Net Lease during the third quarter valued at approximately $61,000. EverSource Wealth Advisors LLC boosted its stake in shares of Broadstone Net Lease by 80.9% during the second quarter. EverSource Wealth Advisors LLC now owns 4,261 shares of the company’s stock valued at $68,000 after purchasing an additional 1,906 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Broadstone Net Lease by 33.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,527 shares of the company’s stock valued at $96,000 after buying an additional 1,385 shares during the period. Finally, KBC Group NV increased its holdings in Broadstone Net Lease by 38.1% during the first quarter. KBC Group NV now owns 7,352 shares of the company’s stock valued at $134,000 after buying an additional 2,028 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Trading Up 0.3%

Shares of BNL opened at $21.23 on Thursday. The firm has a market cap of $4.06 billion, a PE 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 stock has a fifty day moving average price of $21.31 and a 200-day moving average price of $20.04.

Broadstone Net Lease (NYSE:BNL) last announced its earnings results on Wednesday, July 29th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. Broadstone Net Lease had a return on equity of 4.83% and a net margin of 30.61%.The company had revenue of $122.31 million for the quarter, compared to analyst estimates of $121.63 million. Broadstone Net Lease has set its FY 2026 guidance at 1.550-1.570 EPS. As a group, research analysts forecast that Broadstone Net Lease, Inc. will post 1.52 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.2925 dividend. This represents a $1.17 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Wednesday, September 30th. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 153.95%.

Analyst Ratings Changes

A number of research firms have weighed in on BNL. The Goldman Sachs Group upped their target price on Broadstone Net Lease from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Saturday, August 1st. Citigroup downgraded 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 objective on Broadstone Net Lease in a research note on Monday, June 8th. Citizens Jmp downgraded Broadstone Net Lease from an “outperform” rating to a “market perform” rating in a research report on Friday, June 12th. Finally, BMO Capital Markets lifted their target price on Broadstone Net Lease from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, July 10th. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.78.

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.