Kestra Investment Management LLC Acquires 21,577 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Kestra Investment Management LLC increased its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 71.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 51,862 shares of the company’s stock after purchasing an additional 21,577 shares during the quarter. Kestra Investment Management LLC’s holdings in Broadstone Net Lease were worth $823,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Evermay Wealth Management LLC raised its stake in shares of Broadstone Net Lease by 1.4% during the third quarter. Evermay Wealth Management LLC now owns 49,186 shares of the company’s stock worth $937,000 after buying an additional 677 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Broadstone Net Lease by 1.0% in the fourth quarter. State of Alaska Department of Revenue now owns 90,318 shares of the company’s stock worth $1,432,000 after purchasing an additional 882 shares during the period. Cerity Partners LLC raised its holdings in Broadstone Net Lease by 2.2% in the third quarter. Cerity Partners LLC now owns 40,480 shares of the company’s stock worth $767,000 after purchasing an additional 886 shares during the period. Blue Trust Inc. raised its holdings in Broadstone Net Lease by 23.7% in the fourth quarter. Blue Trust Inc. now owns 4,827 shares of the company’s stock worth $77,000 after purchasing an additional 925 shares during the period. Finally, Stifel Financial Corp raised its holdings in Broadstone Net Lease by 6.5% in the third quarter. Stifel Financial Corp now owns 15,470 shares of the company’s stock worth $293,000 after purchasing an additional 939 shares during the period. 89.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on BNL shares. UBS Group started coverage on shares of Broadstone Net Lease in a report on Thursday, November 14th. They issued a “neutral” rating and a $18.00 target price on the stock. Citizens Jmp upgraded shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Finally, JMP Securities upgraded shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $18.60.

Broadstone Net Lease Stock Up 2.1 %

Shares of BNL stock opened at $15.67 on Wednesday. The firm has a fifty day moving average of $15.86 and a 200-day moving average of $17.19. Broadstone Net Lease, Inc. has a 12-month low of $14.20 and a 12-month high of $19.15. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 20.61 and a beta of 1.11.

About Broadstone Net Lease

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.