Y Intercept Hong Kong Ltd Has $806,000 Stock Position in Broadstone Net Lease, Inc. $BNL

Y Intercept Hong Kong Ltd lowered its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 68.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 45,103 shares of the company’s stock after selling 96,491 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Broadstone Net Lease were worth $806,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BNL. Balyasny Asset Management L.P. raised its position in 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 worth $69,579,000 after purchasing an additional 2,951,207 shares during the last quarter. Norges Bank bought a new position in shares of Broadstone Net Lease during the second quarter worth about $39,554,000. Boston Partners lifted its stake in shares of Broadstone Net Lease by 339.0% in the second quarter. Boston Partners now owns 2,079,251 shares of the company’s stock worth $33,372,000 after acquiring an additional 1,605,603 shares during the period. LSV Asset Management increased its position in Broadstone Net Lease by 135.9% during the 2nd quarter. LSV Asset Management now owns 976,200 shares of the company’s stock valued at $15,668,000 after purchasing an additional 562,400 shares during the period. Finally, Adage Capital Partners GP L.L.C. bought a new position in Broadstone Net Lease during the 2nd quarter worth approximately $8,426,000. Institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Price Performance

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BNL. Cantor Fitzgerald set a $20.00 price objective on shares of Broadstone Net Lease in a research report on Monday, January 5th. Morgan Stanley increased their price target on Broadstone Net Lease from $18.00 to $19.00 and gave the stock a “positive” rating in a report on Monday, December 29th. Truist Financial boosted their price objective on Broadstone Net Lease from $18.00 to $20.00 and gave the company a “hold” rating in a research note on Tuesday, November 25th. Citizens Jmp reaffirmed 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. Finally, BTIG Research lowered their target price on Broadstone Net Lease from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, December 5th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.