BTC Capital Management Inc. Increases Holdings in Broadstone Net Lease, Inc. $BNL

BTC Capital Management Inc. lifted its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 41.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 223,881 shares of the company’s stock after purchasing an additional 65,592 shares during the quarter. BTC Capital Management Inc.’s holdings in Broadstone Net Lease were worth $3,999,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in BNL. Blue Trust Inc. grew its holdings in Broadstone Net Lease by 96.9% during the 3rd quarter. Blue Trust Inc. now owns 1,790 shares of the company’s stock valued at $32,000 after buying an additional 881 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Broadstone Net Lease by 80.9% in the second quarter. EverSource Wealth Advisors LLC now owns 4,261 shares of the company’s stock valued at $68,000 after acquiring an additional 1,906 shares during the period. Covestor Ltd grew its stake in Broadstone Net Lease by 15.2% during the third quarter. Covestor Ltd now owns 5,928 shares of the company’s stock valued at $106,000 after acquiring an additional 781 shares in the last quarter. CWM LLC increased its holdings in Broadstone Net Lease by 885.2% during the 2nd quarter. CWM LLC now owns 7,773 shares of the company’s stock worth $125,000 after acquiring an additional 6,984 shares during the period. Finally, EMC Capital Management bought a new stake in Broadstone Net Lease during the 2nd quarter worth approximately $127,000. Institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. BTIG Research cut their price target on shares of Broadstone Net Lease from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, December 5th. Wall Street Zen raised Broadstone Net Lease from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Broadstone Net Lease in a research report on Wednesday, January 21st. Morgan Stanley upped their target price on Broadstone Net Lease from $18.00 to $19.00 and gave the stock a “positive” rating in a research note on Monday, December 29th. Finally, Cantor Fitzgerald set a $20.00 price target on Broadstone Net Lease in a research report on Monday, January 5th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.91.

Broadstone Net Lease Stock Performance

Shares of NYSE:BNL opened at $19.65 on Friday. The firm has a market capitalization of $3.72 billion, a PE ratio of 41.80 and a beta of 1.00. Broadstone Net Lease, Inc. has a 52-week low of $13.96 and a 52-week high of $19.77. The firm has a fifty day moving average of $18.16 and a 200 day moving average of $18.03.

About Broadstone Net Lease

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.