Canandaigua National Trust Co of Florida Purchases New Position in Broadstone Net Lease, Inc. $BNL

Canandaigua National Trust Co of Florida bought a new stake in Broadstone Net Lease, Inc. (NYSE:BNL) in the third quarter, Holdings Channel.com reports. The institutional investor bought 66,256 shares of the company’s stock, valued at approximately $1,226,000.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Broadstone Net Lease during the 2nd quarter worth $712,332,000. Norges Bank acquired a new stake in shares of Broadstone Net Lease in the 4th quarter valued at $41,471,000. Bank of New York Mellon Corp acquired a new stake in shares of Broadstone Net Lease in the 2nd quarter valued at $39,745,000. Wellington Management Group LLP acquired a new stake in shares of Broadstone Net Lease in the 2nd quarter valued at $35,709,000. Finally, Bank of America Corp DE bought a new stake in Broadstone Net Lease in the second quarter worth $32,978,000. 89.07% of the stock is owned by institutional investors.

Insider Buying and Selling at Broadstone Net Lease

In other Broadstone Net Lease news, Director Richard Imperiale bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was purchased at an average price of $21.22 per share, for a total transaction of $106,100.00. Following the purchase, the director directly owned 26,250 shares in the company, valued at $557,025. This trade represents a 23.53% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.02% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on BNL. Cantor Fitzgerald increased their target price on shares of Broadstone Net Lease from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Citizens Jmp cut Broadstone Net Lease from an “outperform” rating to a “market perform” rating in a research report on Friday, June 12th. BMO Capital Markets upped their price target on Broadstone Net Lease from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, July 10th. Truist Financial raised Broadstone Net Lease from a “hold” rating to a “buy” rating and lowered their price objective for the company from $22.00 to $21.00 in a report on Thursday, October 1st. Finally, KeyCorp reissued an “overweight” rating on shares of Broadstone Net Lease in a research note on Tuesday, September 15th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Broadstone Net Lease presently has a consensus rating of “Moderate Buy” and an average target price of $22.67.

Broadstone Net Lease Price Performance

NYSE:BNL traded down $0.36 during midday trading on Wednesday, reaching $18.27. The stock had a trading volume of 1,857,720 shares, compared to its average volume of 2,160,760. Broadstone Net Lease, Inc. has a 1-year low of $17.16 and a 1-year high of $23.10. The firm’s fifty day simple moving average is $20.37 and its 200-day simple moving average is $20.41. The stock has a market capitalization of $3.51 billion, a P/E ratio of 24.03 and a beta of 0.91.

Broadstone Net Lease (NYSE:BNL) last released its earnings results on Wednesday, July 29th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. Broadstone Net Lease had a net margin of 30.61% and a return on equity of 4.83%. The firm had revenue of $122.31 million during 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. On average, equities research analysts anticipate that Broadstone Net Lease, Inc. will post 1.51 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $0.2925 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 6.4%. Broadstone Net Lease’s payout ratio is presently 153.95%.

About Broadstone Net Lease

Broadstone Net Lease, Inc is a real estate investment trust (REIT) that owns and manages a diversified portfolio of single-tenant commercial properties. The company primarily invests in properties subject to long-term, triple-net leases, under which tenants generally are responsible for property taxes, insurance and maintenance costs.

Broadstone’s portfolio includes industrial, healthcare, restaurant and other commercial properties leased to tenants across a range of industries. Its business activities include acquiring, owning, leasing and managing income-producing real estate, with an emphasis on properties that can provide stable rental income over extended lease terms.

Founded in 2007, Broadstone Net Lease completed its initial public offering in 2020.