Broadstone Net Lease, Inc. (NYSE:BNL) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its position in Broadstone Net Lease, Inc. (NYSE:BNL) by 0.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 268,534 shares of the company’s stock after selling 1,355 shares during the quarter. Public Employees Retirement System of Ohio owned 0.14% of Broadstone Net Lease worth $4,208,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its holdings in Broadstone Net Lease by 6.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 110,586 shares of the company’s stock worth $1,733,000 after purchasing an additional 6,906 shares during the last quarter. Evermay Wealth Management LLC increased its stake in shares of Broadstone Net Lease by 11.5% in the first quarter. Evermay Wealth Management LLC now owns 47,930 shares of the company’s stock worth $755,000 after buying an additional 4,931 shares during the last quarter. MQS Management LLC acquired a new stake in Broadstone Net Lease in the first quarter valued at $281,000. CANADA LIFE ASSURANCE Co boosted its stake in Broadstone Net Lease by 5.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 248,499 shares of the company’s stock valued at $3,893,000 after acquiring an additional 13,334 shares during the last quarter. Finally, Covestor Ltd grew its holdings in Broadstone Net Lease by 53.4% during the 1st quarter. Covestor Ltd now owns 13,406 shares of the company’s stock worth $210,000 after acquiring an additional 4,669 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. KeyCorp began coverage on shares of Broadstone Net Lease in a research report on Wednesday, June 12th. They set a “sector weight” rating on the stock. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadstone Net Lease in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $16.75.

Broadstone Net Lease Stock Down 3.1 %

Shares of NYSE:BNL opened at $17.41 on Thursday. The firm has a 50-day simple moving average of $16.02 and a 200 day simple moving average of $15.57. Broadstone Net Lease, Inc. has a fifty-two week low of $13.68 and a fifty-two week high of $18.10. The company has a market cap of $3.28 billion, a PE ratio of 18.14 and a beta of 1.11.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The company had revenue of $105.91 million for the quarter, compared to analyst estimates of $105.95 million. Broadstone Net Lease had a return on equity of 4.85% and a net margin of 36.78%. During the same quarter in the previous year, the company posted $0.35 earnings per share. As a group, research analysts forecast that Broadstone Net Lease, Inc. will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Profile

BNL is an industrial-focused, diversified net lease REIT that acquires, owns, and manages primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. Utilizing an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting, as of September 30, 2023, BNL's diversified portfolio consisted of 800 individual net leased commercial properties with 793 properties located in 44 U.S.