Broadstone Net Lease, Inc. (NYSE:BNL) Short Interest Down 18.4% in January

Broadstone Net Lease, Inc. (NYSE:BNL) was the target of a large decline in short interest in 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. Currently, 2.5% of the company’s shares are short sold. Based on an average trading volume of 1,405,893 shares, the short-interest ratio is currently 3.3 days. Based on an average trading volume of 1,405,893 shares, the short-interest ratio is currently 3.3 days. Currently, 2.5% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BNL. Cantor Fitzgerald set a $20.00 target price on shares of Broadstone Net Lease in a report on Monday, January 5th. Citizens Jmp restated a “market outperform” rating and set a $21.00 price target on shares of Broadstone Net Lease in a research report on Tuesday, December 2nd. Morgan Stanley lifted their price objective on Broadstone Net Lease from $18.00 to $19.00 and gave the company a “positive” rating in a research note on Monday, December 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Broadstone Net Lease in a research note on Wednesday, January 21st. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Broadstone Net Lease in a research report on Thursday, December 4th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $19.91.

Hedge Funds Weigh In On Broadstone Net Lease

Hedge funds and other institutional investors have recently made changes to their positions in the stock. TritonPoint Partners LLC purchased a new stake in shares of Broadstone Net Lease during the fourth quarter worth approximately $1,595,000. Verition Fund Management LLC grew its holdings in Broadstone Net Lease by 31.5% during the 4th quarter. Verition Fund Management LLC now owns 615,506 shares of the company’s stock worth $10,691,000 after acquiring an additional 147,436 shares in the last quarter. Mariner LLC grew its holdings in Broadstone Net Lease by 14.0% during the 4th quarter. Mariner LLC now owns 86,122 shares of the company’s stock worth $1,497,000 after acquiring an additional 10,573 shares in the last quarter. Fieldview Capital Management LLC purchased a new stake in shares of Broadstone Net Lease in the 4th quarter valued at approximately $1,498,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Broadstone Net Lease in the 4th quarter valued at $3,677,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Price Performance

Shares of NYSE BNL traded up $0.29 during mid-day trading on Monday, hitting $19.65. The company had a trading volume of 1,384,395 shares, compared to its average volume of 1,481,171. The company has a market capitalization of $3.72 billion, a PE ratio of 41.80 and a beta of 1.00. The business’s 50-day simple moving average is $18.21 and its 200 day simple moving average is $18.08. Broadstone Net Lease has a 1-year low of $13.96 and a 1-year high of $19.77.

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.