BTC Capital Management Inc. Has $1.76 Million Stock Position in Broadstone Net Lease, Inc. (NYSE:BNL)

BTC Capital Management Inc. decreased its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 5.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 111,204 shares of the company’s stock after selling 6,301 shares during the quarter. BTC Capital Management Inc.’s holdings in Broadstone Net Lease were worth $1,764,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC raised its holdings in Broadstone Net Lease by 257.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $33,000 after acquiring an additional 1,272 shares in the last quarter. Quarry LP increased its position in shares of Broadstone Net Lease by 93.1% during the second quarter. Quarry LP now owns 2,556 shares of the company’s stock valued at $41,000 after purchasing an additional 1,232 shares during the period. Blue Trust Inc. raised its stake in shares of Broadstone Net Lease by 156.5% in the third quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock valued at $74,000 after purchasing an additional 2,381 shares in the last quarter. US Bancorp DE lifted its position in Broadstone Net Lease by 636.6% in the third quarter. US Bancorp DE now owns 3,941 shares of the company’s stock worth $75,000 after purchasing an additional 3,406 shares during the period. Finally, KBC Group NV boosted its stake in Broadstone Net Lease by 29.4% during the third quarter. KBC Group NV now owns 6,220 shares of the company’s stock worth $118,000 after buying an additional 1,413 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BNL. UBS Group assumed coverage on shares of Broadstone Net Lease in a research note on Thursday, November 14th. They issued a “neutral” rating and a $18.00 price objective for the company. JMP Securities raised shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research report on Tuesday, December 17th. Finally, Citizens Jmp raised Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $18.60.

Broadstone Net Lease Stock Down 0.2 %

Shares of BNL stock opened at $15.77 on Friday. The company has a market capitalization of $2.97 billion, a P/E ratio of 20.76 and a beta of 1.11. Broadstone Net Lease, Inc. has a 12-month low of $14.20 and a 12-month high of $19.15. The firm has a 50-day moving average price of $16.32 and a 200 day moving average price of $17.37.

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

Broadstone Net Lease Company 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.