Cetera Investment Advisers Raises Holdings in Broadstone Net Lease, Inc. $BNL

Cetera Investment Advisers grew its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 19.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 795,584 shares of the company’s stock after buying an additional 131,951 shares during the quarter. Cetera Investment Advisers’ holdings in Broadstone Net Lease were worth $14,535,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. CIBC Private Wealth Group LLC grew its holdings in Broadstone Net Lease by 42.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,000 shares of the company’s stock worth $35,000 after acquiring an additional 600 shares during the period. Advisory Services Network LLC purchased a new position in Broadstone Net Lease in the third quarter worth $61,000. EverSource Wealth Advisors LLC lifted its holdings in 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. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Broadstone Net Lease by 33.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,527 shares of the company’s stock valued at $96,000 after acquiring an additional 1,385 shares during the period. Finally, KBC Group NV boosted its position in shares of Broadstone Net Lease by 38.1% during the 1st quarter. KBC Group NV now owns 7,352 shares of the company’s stock worth $134,000 after purchasing an additional 2,028 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Broadstone Net Lease Stock Performance

Shares of BNL stock opened at $22.39 on Wednesday. The stock has a fifty day moving average price of $21.19 and a 200 day moving average price of $19.91. The stock has a market cap of $4.29 billion, a PE ratio of 34.45 and a beta of 0.94. Broadstone Net Lease, Inc. has a 1 year low of $15.77 and a 1 year high of $23.10.

Broadstone Net Lease (NYSE:BNL) last posted its earnings results on Wednesday, April 29th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.06. Broadstone Net Lease had a return on equity of 4.17% and a net margin of 27.01%.The company had revenue of $121.40 million for the quarter, compared to analyst estimates of $118.84 million. As a group, equities research analysts predict that Broadstone Net Lease, Inc. will post 1.52 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Cantor Fitzgerald upped their price target on shares of Broadstone Net Lease from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Truist Financial set a $22.00 price objective on shares of Broadstone Net Lease in a research note on Monday, June 8th. KeyCorp boosted their price objective on shares of Broadstone Net Lease from $20.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Citizens Jmp downgraded shares of Broadstone Net Lease from an “outperform” rating to a “market perform” rating in a report on Friday, June 12th. Finally, Citigroup lowered shares of Broadstone Net Lease from a “market perform” rating to a “market perform” rating in a research report on Friday, June 12th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Broadstone Net Lease has an average rating of “Moderate Buy” and a consensus price target of $22.00.

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.