Entropy Technologies LP Purchases Shares of 42,345 Broadstone Net Lease, Inc. $BNL

Entropy Technologies LP acquired a new stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 42,345 shares of the company’s stock, valued at approximately $774,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp raised its position in shares of Broadstone Net Lease by 2.2% in the 2nd quarter. State Street Corp now owns 8,388,518 shares of the company’s stock worth $136,998,000 after buying an additional 178,186 shares during the period. Alliancebernstein L.P. grew its position in Broadstone Net Lease by 2.7% during the second quarter. Alliancebernstein L.P. now owns 4,791,006 shares of the company’s stock valued at $76,896,000 after acquiring an additional 124,589 shares during the period. Invesco Ltd. grew its position in Broadstone Net Lease by 391.1% during the fourth quarter. Invesco Ltd. now owns 4,565,429 shares of the company’s stock valued at $79,302,000 after acquiring an additional 3,635,809 shares during the period. Balyasny Asset Management L.P. increased its stake in Broadstone Net Lease by 213.2% during the second quarter. Balyasny Asset Management L.P. now owns 4,335,166 shares of the company’s stock worth $69,579,000 after acquiring an additional 2,951,207 shares during the last quarter. Finally, Nuveen LLC increased its stake in Broadstone Net Lease by 3.7% during the fourth quarter. Nuveen LLC now owns 4,310,108 shares of the company’s stock worth $74,867,000 after acquiring an additional 152,684 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Broadstone Net Lease Trading Up 0.0%

Shares of Broadstone Net Lease stock opened at $22.39 on Wednesday. Broadstone Net Lease, Inc. has a twelve month low of $15.77 and a twelve month high of $23.10. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of 34.45 and a beta of 0.94. The company has a fifty day moving average price of $21.19 and a 200 day moving average price of $19.91.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.18 by $0.06. The company had revenue of $121.40 million for the quarter, compared to analyst estimates of $118.84 million. Broadstone Net Lease had a return on equity of 4.17% and a net margin of 27.01%. Analysts forecast that Broadstone Net Lease, Inc. will post 1.52 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BNL. Citizens Jmp downgraded Broadstone Net Lease from an “outperform” rating to a “market perform” rating in a report on Friday, June 12th. Weiss Ratings upgraded Broadstone Net Lease from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. BTIG Research increased their target price on shares of Broadstone Net Lease from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. Cantor Fitzgerald raised their price target on shares of Broadstone Net Lease from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Finally, BMO Capital Markets lifted their price target on shares of Broadstone Net Lease from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, July 10th. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.00.

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.