Principal Financial Group Inc. Purchases 54,582 Shares of Broadstone Net Lease, Inc. $BNL

Principal Financial Group Inc. grew its position in Broadstone Net Lease, Inc. (NYSE:BNL) by 11.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 548,917 shares of the company’s stock after acquiring an additional 54,582 shares during the quarter. Principal Financial Group Inc. owned 0.29% of Broadstone Net Lease worth $9,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Balyasny Asset Management L.P. grew its holdings in shares of Broadstone Net Lease by 213.2% in the second quarter. Balyasny Asset Management L.P. now owns 4,335,166 shares of the company’s stock valued at $69,579,000 after purchasing an additional 2,951,207 shares in the last quarter. Norges Bank bought a new position in Broadstone Net Lease during the second quarter valued at $39,554,000. Boston Partners grew its stake in shares of Broadstone Net Lease by 339.0% in the 2nd quarter. Boston Partners now owns 2,079,251 shares of the company’s stock worth $33,372,000 after buying an additional 1,605,603 shares in the last quarter. LSV Asset Management increased its holdings in shares of Broadstone Net Lease by 135.9% in the 2nd quarter. LSV Asset Management now owns 976,200 shares of the company’s stock worth $15,668,000 after buying an additional 562,400 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new stake in shares of Broadstone Net Lease in the 2nd quarter worth about $8,426,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Broadstone Net Lease Stock Down 0.6%

BNL opened at $19.36 on Friday. The business has a fifty day moving average of $18.12 and a 200 day moving average of $18.00. The stock has a market cap of $3.66 billion, a P/E ratio of 41.19 and a beta of 1.00. Broadstone Net Lease, Inc. has a 52-week low of $13.96 and a 52-week high of $19.75.

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.