Perigon Wealth Management LLC Takes Position in Broadstone Net Lease, Inc. $BNL

Perigon Wealth Management LLC acquired a new stake in Broadstone Net Lease, Inc. (NYSE:BNL) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 59,570 shares of the company’s stock, valued at approximately $1,231,000.

Several other hedge funds have also recently bought and sold shares of BNL. CIBC Private Wealth Group LLC lifted its stake in Broadstone Net Lease by 42.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,000 shares of the company’s stock valued at $35,000 after buying an additional 600 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Broadstone Net Lease during the third quarter worth $61,000. EverSource Wealth Advisors LLC increased its position 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 worth $68,000 after acquiring an additional 1,906 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Broadstone Net Lease during the second quarter worth $74,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of 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 worth $96,000 after acquiring an additional 1,385 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Broadstone Net Lease Stock Down 2.0%

Shares of BNL stock opened at $20.80 on Wednesday. The company’s fifty day simple moving average is $21.42 and its 200-day simple moving average is $20.20. The firm has a market cap of $3.99 billion, a PE ratio of 27.38 and a beta of 0.92. Broadstone Net Lease, Inc. has a 12 month low of $16.73 and a 12 month high of $23.10.

Broadstone Net Lease (NYSE:BNL) last announced its earnings results on Wednesday, July 29th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. The business had revenue of $122.31 million during 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. On average, equities analysts predict that Broadstone Net Lease, Inc. will post 1.52 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 dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Wednesday, September 30th. Broadstone Net Lease’s dividend payout ratio is currently 153.95%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Cantor Fitzgerald upped 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 note on Friday, July 31st. KeyCorp lifted their price target on Broadstone Net Lease from $20.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Truist Financial set a $22.00 price target on Broadstone Net Lease in a report on Monday, June 8th. The Goldman Sachs Group upped their price objective on Broadstone Net Lease from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Broadstone Net Lease in a report on Friday, July 31st. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Broadstone Net Lease presently has an average rating of “Moderate Buy” and an average price target 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.