Blue Trust Inc. Purchases 2,381 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Blue Trust Inc. lifted its position in Broadstone Net Lease, Inc. (NYSE:BNL) by 156.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,902 shares of the company’s stock after buying an additional 2,381 shares during the period. Blue Trust Inc.’s holdings in Broadstone Net Lease were worth $74,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in Broadstone Net Lease by 257.5% in the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $33,000 after acquiring an additional 1,272 shares during the period. Quarry LP lifted its holdings in shares of Broadstone Net Lease by 93.1% during the 2nd quarter. Quarry LP now owns 2,556 shares of the company’s stock valued at $41,000 after purchasing an additional 1,232 shares in the last quarter. Arden Trust Co acquired a new position in shares of Broadstone Net Lease in the 2nd quarter valued at approximately $180,000. Xponance Inc. increased its stake in Broadstone Net Lease by 5.1% during the 2nd quarter. Xponance Inc. now owns 11,922 shares of the company’s stock worth $189,000 after purchasing an additional 580 shares in the last quarter. Finally, Versor Investments LP acquired a new stake in Broadstone Net Lease during the 2nd quarter worth approximately $205,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on BNL shares. Wedbush began coverage on shares of Broadstone Net Lease in a report on Monday, August 19th. They issued an “outperform” rating and a $20.00 price target for the company. Truist Financial boosted their price objective on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Finally, The Goldman Sachs Group increased their target price on Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Broadstone Net Lease presently has an average rating of “Hold” and an average price target of $18.25.

Broadstone Net Lease Stock Up 0.7 %

Shares of BNL opened at $18.12 on Thursday. The company has a 50 day moving average of $18.40 and a 200-day moving average of $16.80. The stock has a market capitalization of $3.42 billion, a P/E ratio of 21.83 and a beta of 1.11. Broadstone Net Lease, Inc. has a twelve month low of $13.91 and a twelve month high of $19.15.

Broadstone Net Lease (NYSE:BNL) last released its 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). Broadstone Net Lease had a net margin of 36.78% and a return on equity of 4.86%. The business had revenue of $105.91 million during the quarter, compared to the consensus estimate of $105.95 million. During the same period last year, the business posted $0.35 EPS. On average, sell-side 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.