Entropy Technologies LP Takes Position in Broadstone Net Lease, Inc. $BNL

Entropy Technologies LP acquired a new stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 42,345 shares of the company’s stock, valued at approximately $774,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BNL. CIBC Private Wealth Group LLC raised its stake in Broadstone Net Lease by 42.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,000 shares of the company’s stock valued at $35,000 after purchasing an additional 600 shares during the last quarter. Advisory Services Network LLC purchased a new position in Broadstone Net Lease in the 3rd quarter valued at about $61,000. EverSource Wealth Advisors LLC boosted its stake in shares of Broadstone Net Lease by 80.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,261 shares of the company’s stock worth $68,000 after purchasing an additional 1,906 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Broadstone Net Lease by 33.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,527 shares of the company’s stock worth $96,000 after purchasing an additional 1,385 shares during the last quarter. Finally, KBC Group NV raised its position in shares of Broadstone Net Lease by 38.1% in the first quarter. KBC Group NV now owns 7,352 shares of the company’s stock valued at $134,000 after buying an additional 2,028 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Price Performance

BNL opened at $22.39 on Wednesday. Broadstone Net Lease, Inc. has a 12 month low of $15.77 and a 12 month high of $23.10. The business has a 50-day moving average of $21.19 and a two-hundred day moving average of $19.91. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 34.45 and a beta of 0.94.

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

Analyst Upgrades and Downgrades

BNL has been the topic of several recent analyst reports. BTIG Research upped their price objective on shares of Broadstone Net Lease from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Truist Financial set a $22.00 target price on shares of Broadstone Net Lease in a research note on Monday, June 8th. BMO Capital Markets boosted their price target on Broadstone Net Lease from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, July 10th. Cantor Fitzgerald increased their price target on Broadstone Net Lease from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Finally, Citigroup lowered Broadstone Net Lease from a “market perform” rating to a “market perform” rating in a research note on Friday, June 12th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Broadstone Net Lease presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Broadstone Net Lease Company Profile

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.