Short Interest in Broadstone Net Lease, Inc. (NYSE:BNL) Declines By 18.4%

Broadstone Net Lease, Inc. (NYSE:BNL) was the recipient of a large decrease in short interest during the month of January. As of January 30th, there was short interest totaling 4,623,019 shares, a decrease of 18.4% from the January 15th total of 5,665,399 shares. Based on an average daily volume of 1,405,893 shares, the days-to-cover ratio is presently 3.3 days. Approximately 2.5% of the shares of the stock are short sold. Approximately 2.5% of the shares of the stock are short sold. Based on an average daily volume of 1,405,893 shares, the days-to-cover ratio is presently 3.3 days.

Broadstone Net Lease Stock Up 1.5%

NYSE:BNL traded up $0.29 on Monday, hitting $19.65. The stock had a trading volume of 1,384,395 shares, compared to its average volume of 1,481,171. The company has a fifty day moving average price of $18.21 and a two-hundred day moving average price of $18.08. Broadstone Net Lease has a 1-year low of $13.96 and a 1-year high of $19.77. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of 41.80 and a beta of 1.00.

Institutional Investors Weigh In On Broadstone Net Lease

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BNL. TritonPoint Partners LLC purchased a new stake in Broadstone Net Lease in the fourth quarter valued at $1,595,000. Verition Fund Management LLC increased its position in shares of Broadstone Net Lease by 31.5% during the 4th quarter. Verition Fund Management LLC now owns 615,506 shares of the company’s stock worth $10,691,000 after purchasing an additional 147,436 shares during the last quarter. Mariner LLC raised its holdings in Broadstone Net Lease by 14.0% in the 4th quarter. Mariner LLC now owns 86,122 shares of the company’s stock valued at $1,497,000 after buying an additional 10,573 shares during the period. Fieldview Capital Management LLC acquired a new position in Broadstone Net Lease in the fourth quarter valued at about $1,498,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Broadstone Net Lease in the fourth quarter valued at about $3,677,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on BNL. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Broadstone Net Lease in a research note on Wednesday, January 21st. Wall Street Zen raised shares of Broadstone Net Lease from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Cantor Fitzgerald set a $20.00 price objective on shares of Broadstone Net Lease in a research note on Monday, January 5th. Citizens Jmp reiterated a “market outperform” rating and issued a $21.00 price objective on shares of Broadstone Net Lease in a report on Tuesday, December 2nd. Finally, Morgan Stanley boosted their target price on Broadstone Net Lease from $18.00 to $19.00 and gave the stock a “positive” rating in a report on Monday, December 29th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Broadstone Net Lease presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.91.

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.