AlphaQuest LLC Buys New Position in Broadstone Net Lease, Inc. $BNL

AlphaQuest LLC acquired a new stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 106,022 shares of the company’s stock, valued at approximately $1,895,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in BNL. State Street Corp lifted its holdings in Broadstone Net Lease by 2.2% during the 2nd quarter. State Street Corp now owns 8,388,518 shares of the company’s stock worth $136,998,000 after buying an additional 178,186 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Broadstone Net Lease by 1.5% in the second quarter. Geode Capital Management LLC now owns 5,104,154 shares of the company’s stock worth $81,929,000 after purchasing an additional 76,531 shares during the period. Alliancebernstein L.P. increased its stake in Broadstone Net Lease by 2.7% during the second quarter. Alliancebernstein L.P. now owns 4,791,006 shares of the company’s stock valued at $76,896,000 after purchasing an additional 124,589 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of Broadstone Net Lease by 213.2% in the 2nd quarter. Balyasny Asset Management L.P. now owns 4,335,166 shares of the company’s stock valued at $69,579,000 after buying an additional 2,951,207 shares during the period. Finally, Norges Bank acquired a new stake in Broadstone Net Lease during the second quarter worth about $39,554,000. Institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BNL. BMO Capital Markets reiterated an “outperform” rating on shares of Broadstone Net Lease in a research report on Thursday, December 4th. BTIG Research lowered 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 research report on Friday, December 5th. Wall Street Zen raised shares of Broadstone Net Lease from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Citizens Jmp reissued 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, Weiss Ratings restated a “hold (c+)” rating on shares of Broadstone Net Lease in a research report on Wednesday, January 21st. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.91.

Broadstone Net Lease Price Performance

NYSE BNL opened at $18.50 on Friday. The company’s 50 day simple moving average is $17.85 and its 200 day simple moving average is $17.80. Broadstone Net Lease, Inc. has a 12 month low of $13.96 and a 12 month high of $18.87. The firm has a market capitalization of $3.50 billion, a PE ratio of 39.36 and a beta of 1.01.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.23). Broadstone Net Lease had a return on equity of 2.93% and a net margin of 20.04%.The business had revenue of $114.17 million during the quarter, compared to the consensus estimate of $111.89 million. Sell-side analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.

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.