Allianz Asset Management GmbH Buys 85,727 Shares of Broadstone Net Lease, Inc. $BNL

Allianz Asset Management GmbH increased its stake in Broadstone Net Lease, Inc. (NYSE:BNL) by 6.6% in the 3rd quarter, Holdings Channel reports. The firm owned 1,387,818 shares of the company’s stock after purchasing an additional 85,727 shares during the period. Allianz Asset Management GmbH’s holdings in Broadstone Net Lease were worth $24,800,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of Broadstone Net Lease by 96.9% in the third quarter. Blue Trust Inc. now owns 1,790 shares of the company’s stock valued at $32,000 after purchasing an additional 881 shares during the period. EverSource Wealth Advisors LLC grew its stake in Broadstone Net Lease by 80.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,261 shares of the company’s stock valued at $68,000 after buying an additional 1,906 shares during the last quarter. Covestor Ltd raised its holdings in Broadstone Net Lease by 15.2% in the 3rd quarter. Covestor Ltd now owns 5,928 shares of the company’s stock worth $106,000 after acquiring an additional 781 shares during the period. CWM LLC lifted its position in Broadstone Net Lease by 885.2% during the 2nd quarter. CWM LLC now owns 7,773 shares of the company’s stock worth $125,000 after acquiring an additional 6,984 shares during the last quarter. Finally, EMC Capital Management bought a new stake in Broadstone Net Lease during the second quarter valued at about $127,000. Institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BNL shares. BTIG Research dropped their price objective on Broadstone Net Lease from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, December 5th. Wall Street Zen raised Broadstone Net Lease from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Morgan Stanley increased their price objective on Broadstone Net Lease from $18.00 to $19.00 and gave the company a “positive” rating in a research report on Monday, December 29th. BMO Capital Markets restated an “outperform” rating on shares of Broadstone Net Lease in a research note on Thursday, December 4th. Finally, Cantor Fitzgerald set a $20.00 target price on shares of Broadstone Net Lease in a research note on Monday, January 5th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.91.

Broadstone Net Lease Trading Down 0.7%

BNL opened at $19.25 on Friday. The stock’s 50 day simple moving average is $17.96 and its 200-day simple moving average is $17.90. The stock has a market cap of $3.64 billion, a PE ratio of 40.96 and a beta of 1.00. Broadstone Net Lease, Inc. has a 1 year low of $13.96 and a 1 year high of $19.60.

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.