Evermay Wealth Management LLC Grows Stake in Broadstone Net Lease, Inc. (NYSE:BNL)

Evermay Wealth Management LLC grew its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 1.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 49,186 shares of the company’s stock after acquiring an additional 677 shares during the quarter. Evermay Wealth Management LLC’s holdings in Broadstone Net Lease were worth $937,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Xponance Inc. increased its stake in shares of Broadstone Net Lease by 5.1% during the second quarter. Xponance Inc. now owns 11,922 shares of the company’s stock worth $189,000 after purchasing an additional 580 shares in the last quarter. Strategic Advocates LLC boosted its stake in Broadstone Net Lease by 4.1% during the second quarter. Strategic Advocates LLC now owns 24,116 shares of the company’s stock worth $383,000 after buying an additional 953 shares during the last quarter. HB Wealth Management LLC boosted its holdings in Broadstone Net Lease by 4.8% in the 2nd quarter. HB Wealth Management LLC now owns 21,178 shares of the company’s stock valued at $336,000 after purchasing an additional 967 shares during the last quarter. Arizona State Retirement System increased its stake in Broadstone Net Lease by 2.1% during the second quarter. Arizona State Retirement System now owns 52,549 shares of the company’s stock worth $834,000 after acquiring an additional 1,086 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Broadstone Net Lease by 3.5% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 34,455 shares of the company’s stock worth $547,000 after purchasing an additional 1,163 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

BNL has been the topic of a number of research analyst reports. Wedbush started coverage on shares of Broadstone Net Lease in a report on Monday, August 19th. They set an “outperform” rating and a $20.00 price objective on the stock. Truist Financial increased their price target on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a report on Friday, August 16th. Finally, The Goldman Sachs Group raised their price objective on Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Friday, September 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.25.

Broadstone Net Lease Stock Up 1.4 %

NYSE:BNL traded up $0.26 during trading hours on Wednesday, reaching $18.26. 90,735 shares of the stock were exchanged, compared to its average volume of 1,149,522. Broadstone Net Lease, Inc. has a 52 week low of $13.91 and a 52 week high of $19.15. The stock has a market capitalization of $3.44 billion, a P/E ratio of 22.00 and a beta of 1.11. The firm has a 50 day simple moving average of $18.40 and a 200-day simple moving average of $16.79.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.15). The firm had revenue of $105.91 million during the quarter, compared to the consensus estimate of $105.95 million. Broadstone Net Lease had a net margin of 36.78% and a return on equity of 4.86%. During the same quarter in the prior year, the business earned $0.35 earnings per share. As a group, analysts expect that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current year.

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.