M&T Bank Corp raised its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL – Free Report) by 9.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 16,742 shares of the company’s stock after acquiring an additional 1,514 shares during the quarter. M&T Bank Corp’s holdings in Broadstone Net Lease were worth $239,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Broadstone Net Lease by 1.2% during the first quarter. Vanguard Group Inc. now owns 22,942,959 shares of the company’s stock worth $499,698,000 after purchasing an additional 269,047 shares during the period. BlackRock Inc. raised its stake in shares of Broadstone Net Lease by 8.7% in the second quarter. BlackRock Inc. now owns 17,809,717 shares of the company’s stock valued at $274,982,000 after acquiring an additional 1,423,529 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Broadstone Net Lease by 4.6% in the second quarter. Principal Financial Group Inc. now owns 13,904,650 shares of the company’s stock valued at $214,689,000 after acquiring an additional 609,651 shares during the last quarter. State Street Corp boosted its holdings in shares of Broadstone Net Lease by 6.0% in the 2nd quarter. State Street Corp now owns 8,831,473 shares of the company’s stock worth $138,766,000 after acquiring an additional 497,297 shares in the last quarter. Finally, Centersquare Investment Management LLC grew its holdings in Broadstone Net Lease by 1.9% during the 2nd quarter. Centersquare Investment Management LLC now owns 5,975,329 shares of the company’s stock worth $92,259,000 after acquiring an additional 113,625 shares during the last quarter. Institutional investors and hedge funds own 77.42% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have commented on BNL shares. JPMorgan Chase & Co. upgraded shares of Broadstone Net Lease from a “neutral” rating to an “overweight” rating and set a $19.00 target price for the company in a research report on Monday, December 18th. TheStreet raised Broadstone Net Lease from a “c+” rating to a “b-” rating in a research report on Friday, December 29th. Wolfe Research raised Broadstone Net Lease from a “peer perform” rating to an “outperform” rating and set a $17.00 price target on the stock in a research report on Wednesday, October 18th. Finally, Truist Financial increased their price target on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the company a “hold” rating in a report on Tuesday, January 16th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.
Broadstone Net Lease Stock Down 1.5 %
Shares of NYSE:BNL opened at $16.07 on Thursday. Broadstone Net Lease, Inc. has a 12-month low of $13.68 and a 12-month high of $18.54. The company’s 50 day moving average price is $16.75 and its two-hundred day moving average price is $15.90. The firm has a market cap of $3.01 billion, a PE ratio of 16.23 and a beta of 1.14.
Broadstone Net Lease Profile
BNL is an industrial-focused, diversified net lease REIT that acquires, owns, and manages primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. Utilizing an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting, as of September 30, 2023, BNL's diversified portfolio consisted of 800 individual net leased commercial properties with 793 properties located in 44 U.S.
- Five stocks we like better than Broadstone Net Lease
- What is Short Interest? How to Use It
- What is a bear market rally? Examples and how they work
- Why Invest in 5G? How to Invest in 5G Stocks
- 7 best bear market ETFs to battle a decline
- Why is the Ex-Dividend Date Significant to Investors?
- 10 best sugar stocks to buy now
Receive News & Ratings for Broadstone Net Lease Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadstone Net Lease and related companies with MarketBeat.com's FREE daily email newsletter.