Broadstone Net Lease, Inc. (NYSE:BNL) Short Interest Update

Broadstone Net Lease, Inc. (NYSE:BNL) was the target of a significant decline in short interest during the month of January. As of January 30th, there was short interest totaling 4,623,019 shares, a decline of 18.4% from the January 15th total of 5,665,399 shares. Based on an average daily volume of 1,405,893 shares, the short-interest ratio is currently 3.3 days. Approximately 2.5% of the shares of the company are sold short. Approximately 2.5% of the shares of the company are sold short. Based on an average daily volume of 1,405,893 shares, the short-interest ratio is currently 3.3 days.

Institutional Trading of Broadstone Net Lease

Several hedge funds and other institutional investors have recently bought and sold shares of BNL. Balyasny Asset Management L.P. boosted its position in Broadstone Net Lease by 213.2% in the 2nd quarter. Balyasny Asset Management L.P. now owns 4,335,166 shares of the company’s stock valued at $69,579,000 after buying an additional 2,951,207 shares during the period. Norges Bank purchased a new stake in shares of Broadstone Net Lease during the second quarter valued at about $39,554,000. Hudson Bay Capital Management LP bought a new stake in shares of Broadstone Net Lease in the 3rd quarter valued at about $37,998,000. Boston Partners raised its stake in shares of Broadstone Net Lease by 339.0% during the 2nd quarter. Boston Partners now owns 2,079,251 shares of the company’s stock worth $33,372,000 after acquiring an additional 1,605,603 shares in the last quarter. Finally, New England Private Wealth Advisors LLC purchased a new stake in Broadstone Net Lease during the fourth quarter valued at approximately $27,426,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. 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 report on Monday, December 29th. BTIG Research reduced their target price on shares of Broadstone Net Lease from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, December 5th. Citizens Jmp reissued a “market outperform” rating and issued a $21.00 price target on shares of Broadstone Net Lease in a research report on Tuesday, December 2nd. Truist Financial boosted their price objective on Broadstone Net Lease from $18.00 to $20.00 and gave the company a “hold” rating in a research note on Tuesday, November 25th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Broadstone Net Lease in a research note on Thursday, December 4th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.80.

Broadstone Net Lease Stock Up 1.1%

Shares of BNL stock traded up $0.21 during trading hours on Tuesday, hitting $19.85. 1,122,587 shares of the company’s stock traded hands, compared to its average volume of 1,481,171. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of 42.23 and a beta of 1.00. The stock’s fifty day simple moving average is $18.26 and its two-hundred day simple moving average is $18.11. Broadstone Net Lease has a 12-month low of $13.96 and a 12-month high of $19.91.

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.