Broadstone Net Lease, Inc. $BNL Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 12.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 686,468 shares of the company’s stock after acquiring an additional 77,964 shares during the period. Envestnet Asset Management Inc.’s holdings in Broadstone Net Lease were worth $12,267,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. State Street Corp grew its holdings in Broadstone Net Lease by 2.2% in the second quarter. State Street Corp now owns 8,388,518 shares of the company’s stock valued at $136,998,000 after purchasing an additional 178,186 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Broadstone Net Lease by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 5,104,154 shares of the company’s stock valued at $81,929,000 after purchasing an additional 76,531 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Broadstone Net Lease by 2.7% in the 2nd quarter. Alliancebernstein L.P. now owns 4,791,006 shares of the company’s stock valued at $76,896,000 after purchasing an additional 124,589 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Broadstone Net Lease by 213.2% during the 2nd quarter. Balyasny Asset Management L.P. now owns 4,335,166 shares of the company’s stock valued at $69,579,000 after buying an additional 2,951,207 shares during the period. Finally, Norges Bank acquired a new stake in shares of Broadstone Net Lease during the 2nd quarter worth $39,554,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Broadstone Net Lease Stock Up 1.1%

Shares of NYSE:BNL opened at $19.85 on Wednesday. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 42.23 and a beta of 1.00. The company has a 50 day moving average of $18.26 and a two-hundred day moving average of $18.11. Broadstone Net Lease, Inc. has a 52-week low of $13.96 and a 52-week high of $19.91.

Analyst Upgrades and Downgrades

BNL has been the topic of a number of research analyst reports. Cantor Fitzgerald set a $20.00 target price on Broadstone Net Lease in a report on Monday, January 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Broadstone Net Lease in a report on Wednesday, January 21st. Truist Financial boosted their target price on Broadstone Net Lease from $18.00 to $20.00 and gave the stock a “hold” rating in a report on Tuesday, November 25th. BMO Capital Markets reissued an “outperform” rating on shares of Broadstone Net Lease in a research report on Thursday, December 4th. Finally, Morgan Stanley lifted their price target on shares of Broadstone Net Lease from $18.00 to $19.00 and gave the company a “positive” rating in a research report on Monday, December 29th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Broadstone Net Lease has an average rating of “Moderate Buy” and an average price target of $19.80.

Broadstone Net Lease 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.