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

TFC Financial Management Inc. reduced its holdings in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 9.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 23,253 shares of the company’s stock after selling 2,414 shares during the period. TFC Financial Management Inc.’s holdings in Broadstone Net Lease were worth $369,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on BNL shares. Citizens Jmp upgraded shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. JMP Securities upgraded shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research report on Tuesday, December 17th. Finally, UBS Group started 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 for the company. One analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Broadstone Net Lease currently has an average rating of “Hold” and a consensus price target of $18.60.

Broadstone Net Lease Price Performance

Shares of NYSE BNL opened at $15.21 on Thursday. The company has a market cap of $2.87 billion, a PE ratio of 20.01 and a beta of 1.11. Broadstone Net Lease, Inc. has a 12 month low of $14.20 and a 12 month high of $19.15. The company has a 50-day simple moving average of $16.00 and a 200-day simple moving average of $17.25.

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.