Massachusetts Financial Services Co. MA Lowers Stake in Broadstone Net Lease, Inc. (NYSE:BNL)

Massachusetts Financial Services Co. MA lessened its stake in Broadstone Net Lease, Inc. (NYSE:BNLFree Report) by 3.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,010,187 shares of the company’s stock after selling 199,853 shares during the period. Massachusetts Financial Services Co. MA owned about 2.68% of Broadstone Net Lease worth $71,646,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Swiss National Bank increased its stake in shares of Broadstone Net Lease by 1.0% in the third quarter. Swiss National Bank now owns 411,600 shares of the company’s stock worth $5,886,000 after buying an additional 4,000 shares during the last quarter. Jump Financial LLC increased its stake in Broadstone Net Lease by 229.6% during the third quarter. Jump Financial LLC now owns 63,941 shares of the company’s stock valued at $914,000 after purchasing an additional 44,544 shares during the last quarter. Arizona State Retirement System increased its stake in Broadstone Net Lease by 1.4% during the third quarter. Arizona State Retirement System now owns 53,302 shares of the company’s stock valued at $762,000 after purchasing an additional 720 shares during the last quarter. abrdn plc increased its stake in Broadstone Net Lease by 2.6% during the third quarter. abrdn plc now owns 38,029 shares of the company’s stock valued at $544,000 after purchasing an additional 951 shares during the last quarter. Finally, Versor Investments LP increased its stake in Broadstone Net Lease by 28.1% during the third quarter. Versor Investments LP now owns 39,167 shares of the company’s stock valued at $560,000 after purchasing an additional 8,600 shares during the last quarter. Institutional investors own 77.42% of the company’s stock.

Wall Street Analyst Weigh In

BNL has been the subject of several recent research reports. TheStreet upgraded shares of Broadstone Net Lease from a “c+” rating to a “b-” rating in a research note on Friday, December 29th. Wolfe Research upgraded shares of Broadstone Net Lease from a “peer perform” rating to an “outperform” rating and set a $17.00 target price for the company in a research note on Wednesday, October 18th. Truist Financial boosted their target price on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Tuesday, January 16th. Finally, JPMorgan Chase & Co. raised shares of Broadstone Net Lease from a “neutral” rating to an “overweight” rating and set a $19.00 price target for the company in a report on Monday, December 18th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Check Out Our Latest Research Report on BNL

Broadstone Net Lease Stock Performance

Shares of BNL opened at $16.05 on Friday. Broadstone Net Lease, Inc. has a 1 year low of $13.68 and a 1 year high of $18.54. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 16.21 and a beta of 1.13. The firm has a fifty day moving average of $16.78 and a 200-day moving average of $15.89.

About Broadstone Net Lease

(Free Report)

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.

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Institutional Ownership by Quarter for Broadstone Net Lease (NYSE:BNL)

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