Sumitomo Mitsui Trust Group Inc. Lowers Stake in Broadstone Net Lease, Inc. (NYSE:BNL)

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 80.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 206,866 shares of the company’s stock after selling 850,794 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Broadstone Net Lease were worth $3,281,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of BNL. SG Americas Securities LLC purchased a new stake in Broadstone Net Lease during the third quarter worth $449,000. GAMMA Investing LLC lifted its holdings in Broadstone Net Lease by 257.5% during the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $33,000 after buying an additional 1,272 shares during the period. AlphaMark Advisors LLC purchased a new stake in Broadstone Net Lease during the third quarter worth $354,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Broadstone Net Lease by 18.7% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 40,914 shares of the company’s stock worth $775,000 after buying an additional 6,459 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of Broadstone Net Lease by 156.5% during the 3rd quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock valued at $74,000 after purchasing an additional 2,381 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Price Performance

NYSE BNL opened at $15.62 on Friday. The stock’s fifty day moving average price is $15.97 and its 200 day moving average price is $17.24. Broadstone Net Lease, Inc. has a 1 year low of $14.20 and a 1 year high of $19.15. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 20.55 and a beta of 1.11.

Analyst Ratings Changes

Several analysts have recently commented on BNL shares. UBS Group started coverage on Broadstone Net Lease in a report on Thursday, November 14th. They set a “neutral” rating and a $18.00 price objective for the company. JMP Securities upgraded Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a report on Tuesday, December 17th. Finally, Citizens Jmp upgraded Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Broadstone Net Lease currently has a consensus rating of “Hold” and an average price target of $18.60.

Broadstone Net Lease Profile

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.