Healthcare of Ontario Pension Plan Trust Fund raised its stake in Broadstone Net Lease, Inc. (NYSE:BNL – Free Report) by 200.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 635,240 shares of the company’s stock after buying an additional 423,562 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.33% of Broadstone Net Lease worth $11,606,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the stock. CIBC Private Wealth Group LLC increased its position in shares of 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 valued at $35,000 after acquiring an additional 600 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of Broadstone Net Lease in the 3rd quarter worth approximately $61,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Broadstone Net Lease by 80.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,261 shares of the company’s stock worth $68,000 after acquiring an additional 1,906 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Broadstone Net Lease by 33.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,527 shares of the company’s stock worth $96,000 after purchasing 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 during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.
Broadstone Net Lease Stock Performance
Shares of BNL opened at $22.39 on Wednesday. The company’s 50-day simple moving average is $21.19 and its 200-day simple moving average is $19.91. Broadstone Net Lease, Inc. has a 1 year low of $15.77 and a 1 year high of $23.10. The stock has a market capitalization of $4.29 billion, a PE ratio of 34.45 and a beta of 0.94.
Analyst Upgrades and Downgrades
BNL has been the subject of several research reports. KeyCorp lifted their target price on shares of Broadstone Net Lease from $20.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Truist Financial set a $22.00 price target on Broadstone Net Lease in a research note on Monday, June 8th. BMO Capital Markets raised their price target on Broadstone Net Lease from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, July 10th. Citizens Jmp cut Broadstone Net Lease from an “outperform” rating to a “market perform” rating in a research note on Friday, June 12th. Finally, Citigroup downgraded Broadstone Net Lease from a “market perform” rating to a “market perform” rating in a report on Friday, June 12th. Seven equities research analysts have rated the stock with a Buy rating and four have given 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.
Read Our Latest Stock Analysis on BNL
Broadstone Net Lease 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.
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