Global Wealth Management Investment Advisory Inc. Buys New Shares in Broadstone Net Lease, Inc. (NYSE:BNL)

Global Wealth Management Investment Advisory Inc. bought a new stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) during the 4th quarter, Holdings Channel reports. The firm bought 12,333 shares of the company’s stock, valued at approximately $196,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brookfield Corp ON purchased a new position in shares of Broadstone Net Lease in the third quarter valued at about $18,444,000. Wellington Management Group LLP purchased a new position in shares of Broadstone Net Lease in the third quarter valued at about $12,574,000. Systematic Financial Management LP lifted its position in shares of Broadstone Net Lease by 298.1% in the third quarter. Systematic Financial Management LP now owns 747,706 shares of the company’s stock valued at $14,169,000 after acquiring an additional 559,906 shares in the last quarter. Columbus Macro LLC purchased a new position in shares of Broadstone Net Lease in the fourth quarter valued at about $6,269,000. Finally, Victory Capital Management Inc. lifted its position in shares of Broadstone Net Lease by 35.5% in the third quarter. Victory Capital Management Inc. now owns 1,454,507 shares of the company’s stock valued at $27,563,000 after acquiring an additional 380,772 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Broadstone Net Lease Stock Performance

Shares of NYSE BNL opened at $15.38 on Tuesday. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 20.23 and a beta of 1.11. The stock has a 50 day moving average price of $16.07 and a 200 day moving average price of $17.28. Broadstone Net Lease, Inc. has a 52-week low of $14.20 and a 52-week high of $19.15.

Analysts Set New Price Targets

BNL has been the topic of several research analyst reports. JMP Securities upgraded Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research report on Tuesday, December 17th. UBS Group initiated coverage on Broadstone Net Lease in a research note on Thursday, November 14th. They set a “neutral” rating and a $18.00 price objective on the stock. Finally, Citizens Jmp raised Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $18.60.

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.