Nisa Investment Advisors LLC Trims Stock Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Nisa Investment Advisors LLC lowered its position in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 9.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,429 shares of the company’s stock after selling 5,109 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Broadstone Net Lease were worth $784,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Perpetual Ltd grew its holdings in Broadstone Net Lease by 5.8% during the 4th quarter. Perpetual Ltd now owns 88,319 shares of the company’s stock valued at $1,401,000 after buying an additional 4,830 shares in the last quarter. Prairiewood Capital LLC boosted its position in shares of Broadstone Net Lease by 0.3% during the fourth quarter. Prairiewood Capital LLC now owns 317,344 shares of the company’s stock worth $5,033,000 after acquiring an additional 994 shares during the last quarter. Tallon Kerry Patrick purchased a new position in Broadstone Net Lease during the fourth quarter valued at $4,669,000. Wealth Enhancement Advisory Services LLC increased its holdings in Broadstone Net Lease by 30.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 466,782 shares of the company’s stock valued at $7,403,000 after acquiring an additional 108,907 shares during the last quarter. Finally, Canandaigua National Trust Co of Florida bought a new stake in Broadstone Net Lease in the 4th quarter valued at $1,143,000. Institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BNL. JMP Securities upgraded Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research report on Tuesday, December 17th. UBS Group initiated coverage on Broadstone Net Lease in a research note on Thursday, November 14th. They set a “neutral” rating and a $18.00 price target for the company. Finally, Citizens Jmp raised Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Broadstone Net Lease currently has an average rating of “Hold” and an average price target of $18.60.

Broadstone Net Lease Price Performance

Shares of NYSE BNL opened at $16.17 on Wednesday. Broadstone Net Lease, Inc. has a 1-year low of $14.20 and a 1-year high of $19.15. The business’s 50 day moving average is $16.37 and its two-hundred day moving average is $17.40. The stock has a market capitalization of $3.05 billion, a P/E ratio of 21.27 and a beta of 1.11.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.15). The company had revenue of $108.40 million for the quarter, compared to analysts’ expectations of $106.47 million. Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.47%. During the same quarter in the previous year, the company posted $0.36 EPS. As a group, equities research analysts anticipate that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current fiscal year.

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.