Teacher Retirement System of Texas Reduces Position in Broadstone Net Lease, Inc. $BNL

Teacher Retirement System of Texas trimmed its holdings in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 46.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,708 shares of the company's stock after selling 25,024 shares during the quarter. Teacher Retirement System of Texas' holdings in Broadstone Net Lease were worth $461,000 as of its most recent SEC filing.

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Several other institutional investors and hedge funds have also made changes to their positions in the stock. Wolff Wiese Magana LLC acquired a new stake in shares of Broadstone Net Lease in the second quarter valued at approximately $45,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Broadstone Net Lease in the 1st quarter valued at $115,000. CWM LLC grew its holdings in Broadstone Net Lease by 885.2% in the 2nd quarter. CWM LLC now owns 7,773 shares of the company's stock valued at $125,000 after buying an additional 6,984 shares in the last quarter. Arrow Investment Advisors LLC acquired a new stake in shares of Broadstone Net Lease in the 2nd quarter worth $172,000. Finally, FJ Capital Management LLC purchased a new position in shares of Broadstone Net Lease during the 1st quarter worth $201,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on BNL shares. Wall Street Zen raised shares of Broadstone Net Lease from a "sell" rating to a "hold" rating in a report on Saturday. JMP Securities reiterated a "market outperform" rating and issued a $21.00 target price on shares of Broadstone Net Lease in a report on Monday, September 29th. UBS Group raised their price target on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Friday, August 15th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Broadstone Net Lease in a report on Wednesday, October 8th. Finally, BTIG Research reiterated a "buy" rating and issued a $22.00 price objective on shares of Broadstone Net Lease in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Broadstone Net Lease currently has a consensus rating of "Moderate Buy" and an average target price of $19.89.

Check Out Our Latest Stock Analysis on BNL

Broadstone Net Lease Stock Performance

NYSE:BNL opened at $18.13 on Monday. The stock has a market capitalization of $3.43 billion, a P/E ratio of 38.56 and a beta of 1.00. The company has a 50 day moving average price of $18.38 and a 200 day moving average price of $17.04. Broadstone Net Lease, Inc. has a fifty-two week low of $13.96 and a fifty-two week high of $18.87.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last announced its earnings results on Wednesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.23). Broadstone Net Lease had a net margin of 20.04% and a return on equity of 2.91%. The firm had revenue of $114.17 million during the quarter, compared to analysts' expectations of $111.89 million. Broadstone Net Lease has set its FY 2025 guidance at 1.490-1.500 EPS. Research analysts forecast that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.16 annualized dividend and a yield of 6.4%. Broadstone Net Lease's dividend payout ratio is presently 246.81%.

Broadstone Net Lease Company Profile

Broadstone Net Lease, Inc (the Corporation) is a Maryland corporation formed on October 18, 2007, that elected to be taxed as a real estate investment trust (REIT) commencing with the taxable year ended December 31, 2008. Broadstone Net Lease, LLC (the Corporation's operating company, or the OP), is the entity through which the Corporation conducts its business and owns (either directly or through subsidiaries) all of the Corporation's properties.

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