D.A. Davidson & CO. Acquires 1,780 Shares of Broadstone Net Lease, Inc. $BNL

D.A. Davidson & CO. lifted its holdings in Broadstone Net Lease, Inc. (NYSE:BNL) by 2.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 80,951 shares of the company’s stock after purchasing an additional 1,780 shares during the period. D.A. Davidson & CO.’s holdings in Broadstone Net Lease were worth $1,299,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Broadstone Net Lease by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 27,711,994 shares of the company’s stock worth $472,212,000 after purchasing an additional 266,900 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Broadstone Net Lease by 1.1% in the 1st quarter. Alliancebernstein L.P. now owns 4,666,417 shares of the company’s stock worth $79,516,000 after purchasing an additional 51,754 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Broadstone Net Lease by 2.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,145,709 shares of the company’s stock worth $53,603,000 after acquiring an additional 68,196 shares during the period. Nuveen LLC bought a new stake in Broadstone Net Lease during the 1st quarter worth approximately $28,127,000. Finally, Allianz Asset Management GmbH raised its stake in Broadstone Net Lease by 1.0% during the 2nd quarter. Allianz Asset Management GmbH now owns 1,302,091 shares of the company’s stock worth $20,899,000 after acquiring an additional 13,199 shares during the period. Institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. UBS Group raised their target price on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, August 15th. Wolfe Research upgraded shares of Broadstone Net Lease from a “peer perform” rating to an “outperform” rating and set a $19.00 target price on the stock in a research note on Monday, July 28th. Wall Street Zen cut shares of Broadstone Net Lease from a “hold” rating to a “sell” rating in a research note on Saturday. BTIG Research restated a “buy” rating and set a $22.00 target price on shares of Broadstone Net Lease in a research note on Wednesday, October 1st. Finally, JMP Securities restated a “market outperform” rating and set a $21.00 target price on shares of Broadstone Net Lease in a research note on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Broadstone Net Lease has an average rating of “Moderate Buy” and a consensus target price of $19.89.

Broadstone Net Lease Price Performance

Shares of BNL opened at $18.77 on Tuesday. Broadstone Net Lease, Inc. has a 1 year low of $13.96 and a 1 year high of $18.87. The company has a 50 day simple moving average of $18.39 and a two-hundred day simple moving average of $16.89. The firm has a market cap of $3.55 billion, a P/E ratio of 36.10 and a beta of 1.00.

About Broadstone Net Lease

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.