Nisa Investment Advisors LLC Sells 5,109 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Nisa Investment Advisors LLC decreased its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNLFree Report) by 9.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 48,429 shares of the company’s stock after selling 5,109 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Broadstone Net Lease were worth $784,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BNL. Geode Capital Management LLC boosted its holdings in Broadstone Net Lease by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,844,943 shares of the company’s stock valued at $91,827,000 after acquiring an additional 62,515 shares during the period. Millennium Management LLC lifted its position in shares of Broadstone Net Lease by 709.4% during the second quarter. Millennium Management LLC now owns 3,177,459 shares of the company’s stock worth $50,426,000 after purchasing an additional 2,784,878 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Broadstone Net Lease by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 1,834,413 shares of the company’s stock valued at $34,762,000 after purchasing an additional 84,509 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Broadstone Net Lease by 35.5% in the third quarter. Victory Capital Management Inc. now owns 1,454,507 shares of the company’s stock worth $27,563,000 after purchasing an additional 380,772 shares during the last quarter. Finally, Brookfield Corp ON purchased a new position in Broadstone Net Lease in the 3rd quarter worth about $18,444,000. Institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

BNL has been the topic of a number of research analyst reports. UBS Group initiated coverage on shares of Broadstone Net Lease in a research note on Thursday, November 14th. They issued a “neutral” rating and a $18.00 target price on the stock. JMP Securities raised Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research note on Tuesday, December 17th. Finally, Citizens Jmp raised Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $18.60.

Check Out Our Latest Stock Analysis on BNL

Broadstone Net Lease Stock Down 1.1 %

BNL opened at $16.17 on Wednesday. The company has a market cap of $3.05 billion, a P/E ratio of 21.27 and a beta of 1.11. The firm’s 50-day moving average price is $16.37 and its 200-day moving average price is $17.40. Broadstone Net Lease, Inc. has a 52-week low of $14.20 and a 52-week high of $19.15.

Broadstone Net Lease (NYSE:BNLGet Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.47%. The company had revenue of $108.40 million for the quarter, compared to analyst estimates of $106.47 million. During the same quarter in the previous year, the company posted $0.36 EPS. On average, research analysts anticipate that Broadstone Net Lease, Inc. will post 1.39 EPS for the current fiscal year.

About Broadstone Net Lease

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Broadstone Net Lease (NYSE:BNL)

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