Envestnet Asset Management Inc. Raises Holdings in Broadstone Net Lease, Inc. $BNL

Envestnet Asset Management Inc. grew its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 12.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 686,468 shares of the company’s stock after buying an additional 77,964 shares during the quarter. Envestnet Asset Management Inc. owned about 0.36% of Broadstone Net Lease worth $12,267,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BNL. AlphaQuest LLC acquired a new stake in shares of Broadstone Net Lease in the 3rd quarter worth approximately $1,895,000. Principal Financial Group Inc. boosted its position in Broadstone Net Lease by 11.0% during the third quarter. Principal Financial Group Inc. now owns 548,917 shares of the company’s stock worth $9,809,000 after purchasing an additional 54,582 shares in the last quarter. Franklin Resources Inc. grew its holdings in Broadstone Net Lease by 14.6% in the second quarter. Franklin Resources Inc. now owns 649,748 shares of the company’s stock valued at $10,428,000 after purchasing an additional 82,779 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Broadstone Net Lease by 39.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 471,426 shares of the company’s stock valued at $8,750,000 after buying an additional 134,004 shares in the last quarter. Finally, Columbus Macro LLC raised its stake in shares of Broadstone Net Lease by 13.0% during the 3rd quarter. Columbus Macro LLC now owns 614,998 shares of the company’s stock worth $10,990,000 after buying an additional 70,823 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Ratings Changes

BNL has been the topic of a number of research reports. Morgan Stanley increased their price objective on shares of Broadstone Net Lease from $18.00 to $19.00 and gave the company a “positive” rating in a research note on Monday, December 29th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Broadstone Net Lease in a report on Thursday, December 4th. Wall Street Zen raised shares of Broadstone Net Lease from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Broadstone Net Lease in a research report on Wednesday, January 21st. Finally, Truist Financial upped their target price on Broadstone Net Lease from $18.00 to $20.00 and gave the company a “hold” rating in a research note on Tuesday, November 25th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Broadstone Net Lease has an average rating of “Moderate Buy” and a consensus target price of $19.80.

Broadstone Net Lease Price Performance

NYSE:BNL opened at $19.85 on Wednesday. The firm has a market cap of $3.76 billion, a PE ratio of 42.23 and a beta of 1.00. The firm has a 50 day simple moving average of $18.26 and a 200-day simple moving average of $18.11. Broadstone Net Lease, Inc. has a 1-year low of $13.96 and a 1-year high of $19.91.

About Broadstone Net Lease

Broadstone Net Lease, Inc (NYSE: BNL) is a publicly traded real estate investment trust focused on owning and operating single-tenant commercial properties under long-term net leases. The company specializes in acquiring properties that are leased to creditworthy tenants, allowing it to generate predictable, stable rental income while transferring most operating expenses and responsibilities to its lessees.

Broadstone Net Lease’s portfolio spans a variety of property types, including industrial facilities, distribution centers, manufacturing plants, life science and office buildings, and essential retail locations.