Citigroup Inc. Decreases Stock Position in Broadstone Net Lease, Inc. $BNL

Citigroup Inc. trimmed its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 42.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 240,303 shares of the company’s stock after selling 179,524 shares during the quarter. Citigroup Inc.’s holdings in Broadstone Net Lease were worth $4,294,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Aberdeen Group plc boosted its stake in shares of Broadstone Net Lease by 13.8% in the 3rd quarter. Aberdeen Group plc now owns 65,516 shares of the company’s stock valued at $1,170,000 after buying an additional 7,952 shares during the period. BTC Capital Management Inc. raised its holdings in Broadstone Net Lease by 41.4% in the third quarter. BTC Capital Management Inc. now owns 223,881 shares of the company’s stock valued at $3,999,000 after acquiring an additional 65,592 shares in the last quarter. Metis Global Partners LLC lifted its stake in Broadstone Net Lease by 36.4% in the third quarter. Metis Global Partners LLC now owns 42,632 shares of the company’s stock worth $762,000 after acquiring an additional 11,381 shares during the last quarter. LSV Asset Management grew its holdings in Broadstone Net Lease by 37.3% during the 3rd quarter. LSV Asset Management now owns 1,340,400 shares of the company’s stock worth $23,953,000 after acquiring an additional 364,200 shares in the last quarter. Finally, Wesbanco Bank Inc. purchased a new stake in shares of Broadstone Net Lease in the 3rd quarter valued at approximately $1,090,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BNL. BMO Capital Markets reaffirmed an “outperform” rating on shares of Broadstone Net Lease in a research report on Thursday, December 4th. Citizens Jmp reaffirmed a “market outperform” rating and set a $21.00 price target on shares of Broadstone Net Lease in a report on Tuesday, December 2nd. Wall Street Zen raised Broadstone Net Lease from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Truist Financial raised their target price on Broadstone Net Lease from $18.00 to $20.00 and gave the stock a “hold” rating in a research report on Tuesday, November 25th. Finally, Morgan Stanley boosted their target price on Broadstone Net Lease from $18.00 to $19.00 and gave the stock a “positive” rating in a research note on Monday, December 29th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.90.

Broadstone Net Lease Stock Performance

BNL opened at $18.90 on Thursday. Broadstone Net Lease, Inc. has a one year low of $13.96 and a one year high of $19.91. The stock has a market capitalization of $3.62 billion, a P/E ratio of 37.80 and a beta of 0.99. The business’s 50-day simple moving average is $18.61 and its 200-day simple moving average is $18.28.

Broadstone Net Lease (NYSE:BNL) last announced its earnings results on Wednesday, February 18th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.20). Broadstone Net Lease had a net margin of 21.25% and a return on equity of 3.17%. Broadstone Net Lease has set its FY 2026 guidance at 1.530-1.57 EPS. On average, equities research analysts forecast that Broadstone Net Lease, Inc. will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 6.2%. This is a boost from Broadstone Net Lease’s previous quarterly dividend of $0.29. The ex-dividend date is Tuesday, March 31st. Broadstone Net Lease’s payout ratio is 232.00%.

Broadstone Net Lease Company 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.