Broadstone Net Lease, Inc. (NYSE:BNL) Sees Significant Increase in Short Interest

Broadstone Net Lease, Inc. (NYSE:BNL) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 5,665,399 shares, a growth of 47.6% from the December 31st total of 3,837,833 shares. Currently, 3.0% of the shares of the stock are sold short. Based on an average trading volume of 2,161,999 shares, the short-interest ratio is currently 2.6 days. Based on an average trading volume of 2,161,999 shares, the short-interest ratio is currently 2.6 days. Currently, 3.0% of the shares of the stock are sold short.

Broadstone Net Lease Stock Performance

Shares of BNL opened at $18.31 on Tuesday. The firm has a 50-day simple moving average of $17.84 and a 200-day simple moving average of $17.84. Broadstone Net Lease has a fifty-two week low of $13.96 and a fifty-two week high of $18.87. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 38.95 and a beta of 1.01.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Truist Financial lifted their target price on Broadstone Net Lease from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Tuesday, November 25th. BMO Capital Markets restated an “outperform” rating on shares of Broadstone Net Lease in a report on Thursday, December 4th. Citizens Jmp reissued a “market outperform” rating and set a $21.00 target price on shares of Broadstone Net Lease in a research note on Tuesday, December 2nd. Morgan Stanley boosted their price target on shares of Broadstone Net Lease from $18.00 to $19.00 and gave the stock a “positive” rating in a report on Monday, December 29th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Broadstone Net Lease in a research report on Wednesday, January 21st. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.91.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in shares of Broadstone Net Lease by 2.2% during the 2nd quarter. State Street Corp now owns 8,388,518 shares of the company’s stock worth $136,998,000 after purchasing an additional 178,186 shares during the last quarter. 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. Centersquare Investment Management LLC grew its position in Broadstone Net Lease by 3.0% during the third quarter. Centersquare Investment Management LLC now owns 5,052,587 shares of the company’s stock valued at $90,290,000 after acquiring an additional 146,402 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Broadstone Net Lease by 2.7% during the 2nd quarter. Alliancebernstein L.P. now owns 4,791,006 shares of the company’s stock worth $76,896,000 after purchasing an additional 124,589 shares during the period. Finally, Balyasny Asset Management L.P. grew its stake in Broadstone Net Lease by 213.2% during the second quarter. Balyasny Asset Management L.P. now owns 4,335,166 shares of the company’s stock worth $69,579,000 after buying an additional 2,951,207 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Broadstone Net Lease Company 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.