Apollon Wealth Management LLC Decreases Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Apollon Wealth Management LLC decreased its position in Broadstone Net Lease, Inc. (NYSE:BNL) by 33.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 139,627 shares of the company’s stock after selling 69,528 shares during the period. Apollon Wealth Management LLC owned about 0.07% of Broadstone Net Lease worth $2,214,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Sanctuary Advisors LLC purchased a new position in Broadstone Net Lease during the 2nd quarter valued at about $614,000. SG Americas Securities LLC acquired a new stake in shares of Broadstone Net Lease in the third quarter valued at approximately $449,000. GAMMA Investing LLC increased its stake in shares of Broadstone Net Lease by 257.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $33,000 after purchasing an additional 1,272 shares in the last quarter. Ritholtz Wealth Management raised its position in shares of Broadstone Net Lease by 6.5% during the 3rd quarter. Ritholtz Wealth Management now owns 25,766 shares of the company’s stock worth $488,000 after purchasing an additional 1,580 shares during the last quarter. Finally, AlphaMark Advisors LLC acquired a new stake in Broadstone Net Lease during the 3rd quarter valued at $354,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Price Performance

NYSE BNL opened at $15.52 on Monday. The company has a market cap of $2.93 billion, a P/E ratio of 20.42 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 company has a 50-day moving average of $16.11 and a 200-day moving average of $17.30.

Analyst Ratings Changes

Several brokerages have recently issued reports on BNL. UBS Group initiated coverage on Broadstone Net Lease in a research report on Thursday, November 14th. They issued a “neutral” rating and a $18.00 price objective on the stock. 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. 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 analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $18.60.

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.