Tritonpoint Wealth LLC Sells 31,149 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Tritonpoint Wealth LLC decreased its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 3.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,015,121 shares of the company’s stock after selling 31,149 shares during the period. Broadstone Net Lease makes up 1.5% of Tritonpoint Wealth LLC’s holdings, making the stock its 13th largest position. Tritonpoint Wealth LLC owned 0.54% of Broadstone Net Lease worth $16,394,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in shares of Broadstone Net Lease by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,844,943 shares of the company’s stock valued at $91,827,000 after purchasing an additional 62,515 shares during the period. JPMorgan Chase & Co. boosted its position in Broadstone Net Lease by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 1,834,413 shares of the company’s stock valued at $34,762,000 after buying an additional 84,509 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Broadstone Net Lease by 35.5% during the third quarter. Victory Capital Management Inc. now owns 1,454,507 shares of the company’s stock valued at $27,563,000 after acquiring an additional 380,772 shares during the last quarter. Brookfield Corp ON bought a new position in shares of Broadstone Net Lease during the third quarter valued at $18,444,000. Finally, Sage Advisors LLC raised its stake in Broadstone Net Lease by 2.7% during the third quarter. Sage Advisors LLC now owns 932,736 shares of the company’s stock worth $17,675,000 after buying an additional 24,670 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Trading Down 0.3 %

NYSE:BNL opened at $15.73 on Friday. Broadstone Net Lease, Inc. has a 12 month low of $14.20 and a 12 month high of $19.15. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 20.70 and a beta of 1.11. The company has a 50-day moving average price of $16.29 and a 200-day moving average price of $17.36.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The company had revenue of $108.40 million during the quarter, compared to the consensus estimate of $106.47 million. Broadstone Net Lease had a return on equity of 4.47% and a net margin of 33.56%. During the same quarter in the prior year, the firm earned $0.36 earnings per share. Equities analysts forecast that Broadstone Net Lease, Inc. will post 1.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. JMP Securities raised shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research note on Tuesday, December 17th. UBS Group assumed coverage on shares of Broadstone Net Lease in a report on Thursday, November 14th. They set a “neutral” rating and a $18.00 price objective for the company. Finally, Citizens Jmp upgraded shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a 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.com, Broadstone Net Lease has an average rating of “Hold” and a consensus target price of $18.60.

Broadstone Net Lease Profile

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.