Wesbanco Bank Inc. Invests $1.09 Million in Broadstone Net Lease, Inc. $BNL

Wesbanco Bank Inc. bought a new stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 61,000 shares of the company’s stock, valued at approximately $1,090,000.

Several other large investors have also bought and sold shares of BNL. Royal Bank of Canada lifted its position in shares of Broadstone Net Lease by 69.9% during the first quarter. Royal Bank of Canada now owns 91,943 shares of the company’s stock valued at $1,566,000 after purchasing an additional 37,830 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Broadstone Net Lease by 52.8% during the 1st quarter. AQR Capital Management LLC now owns 25,599 shares of the company’s stock worth $436,000 after buying an additional 8,848 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Broadstone Net Lease by 2.3% in the 1st quarter. Millennium Management LLC now owns 1,147,372 shares of the company’s stock worth $19,551,000 after buying an additional 25,944 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Broadstone Net Lease by 5.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,283,889 shares of the company’s stock worth $21,877,000 after buying an additional 70,534 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Broadstone Net Lease by 292.3% in the first quarter. Jane Street Group LLC now owns 553,738 shares of the company’s stock valued at $9,436,000 after acquiring an additional 412,604 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BNL has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price target on Broadstone Net Lease from $18.00 to $19.00 and gave the stock a “positive” rating in a report on Monday, December 29th. Cantor Fitzgerald set a $20.00 target price on Broadstone Net Lease in a research note on Monday, January 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Broadstone Net Lease in a research report on Wednesday, January 21st. BMO Capital Markets restated an “outperform” rating on shares of Broadstone Net Lease in a report on Thursday, December 4th. Finally, Wall Street Zen upgraded shares of Broadstone Net Lease from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Broadstone Net Lease has an average rating of “Moderate Buy” and a consensus price target of $19.91.

Broadstone Net Lease Trading Down 0.7%

Broadstone Net Lease stock opened at $19.45 on Thursday. The firm’s 50 day simple moving average is $18.08 and its 200 day simple moving average is $17.99. Broadstone Net Lease, Inc. has a 1-year low of $13.96 and a 1-year high of $19.69. The firm has a market capitalization of $3.68 billion, a PE ratio of 41.39 and a beta of 1.00.

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.