Broadstone Net Lease, Inc. (NYSE:BNL – Get Rating) shares reached a new 52-week low on Tuesday . The company traded as low as $18.47 and last traded at $18.52, with a volume of 1338 shares traded. The stock had previously closed at $18.94.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the stock. Morgan Stanley reduced their target price on shares of Broadstone Net Lease from $25.00 to $21.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 12th. The Goldman Sachs Group dropped their target price on shares of Broadstone Net Lease from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 15th. Finally, Truist Financial upped their price objective on shares of Broadstone Net Lease to $23.00 in a report on Tuesday, September 6th.
Broadstone Net Lease Price Performance
The business’s 50 day moving average is $20.65 and its two-hundred day moving average is $20.92. The firm has a market capitalization of $3.17 billion, a PE ratio of 25.11 and a beta of 1.06.
Broadstone Net Lease Dividend Announcement
Hedge Funds Weigh In On Broadstone Net Lease
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Broadstone Net Lease in the 1st quarter worth about $35,000. FMR LLC grew its stake in shares of Broadstone Net Lease by 67.8% during the 2nd quarter. FMR LLC now owns 1,903 shares of the company’s stock valued at $39,000 after purchasing an additional 769 shares during the period. Lazard Asset Management LLC grew its stake in shares of Broadstone Net Lease by 205.6% during the 2nd quarter. Lazard Asset Management LLC now owns 4,052 shares of the company’s stock valued at $83,000 after purchasing an additional 2,726 shares during the period. US Bancorp DE grew its stake in shares of Broadstone Net Lease by 1,231.1% during the 2nd quarter. US Bancorp DE now owns 6,429 shares of the company’s stock valued at $132,000 after purchasing an additional 5,946 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Broadstone Net Lease during the 1st quarter valued at about $203,000. Hedge funds and other institutional investors own 74.04% of the company’s stock.
About Broadstone Net Lease
BNL is an internally-managed 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. The Company utilizes an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting.
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