TFC Financial Management Inc. Lowers Position in Broadstone Net Lease, Inc. (NYSE:BNL)

TFC Financial Management Inc. trimmed its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 9.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 23,253 shares of the company’s stock after selling 2,414 shares during the quarter. TFC Financial Management Inc.’s holdings in Broadstone Net Lease were worth $369,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BNL. Brookfield Corp ON purchased a new stake in Broadstone Net Lease during the third quarter worth approximately $18,444,000. Wellington Management Group LLP purchased a new stake in Broadstone Net Lease during the third quarter worth approximately $12,574,000. Systematic Financial Management LP grew its stake in Broadstone Net Lease by 298.1% during the third quarter. Systematic Financial Management LP now owns 747,706 shares of the company’s stock worth $14,169,000 after buying an additional 559,906 shares during the period. Columbus Macro LLC purchased a new stake in Broadstone Net Lease during the fourth quarter worth approximately $6,269,000. Finally, Victory Capital Management Inc. grew its stake in Broadstone Net Lease by 35.5% during the third quarter. Victory Capital Management Inc. now owns 1,454,507 shares of the company’s stock worth $27,563,000 after buying an additional 380,772 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Broadstone Net Lease Price Performance

BNL opened at $15.21 on Thursday. The stock has a market capitalization of $2.87 billion, a PE ratio of 20.01 and a beta of 1.11. The firm’s fifty day moving average price is $16.00 and its 200 day moving average price is $17.25. Broadstone Net Lease, Inc. has a 12-month low of $14.20 and a 12-month high of $19.15.

Broadstone Net Lease Company 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.