Broadstone Net Lease, Inc. (NYSE:BNL) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC lessened its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL) by 33.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 139,627 shares of the company’s stock after selling 69,528 shares during the quarter. Apollon Wealth Management LLC’s holdings in Broadstone Net Lease were worth $2,214,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of BNL. Geode Capital Management LLC lifted its position in Broadstone Net Lease by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,844,943 shares of the company’s stock worth $91,827,000 after acquiring an additional 62,515 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Broadstone Net Lease by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 1,834,413 shares of the company’s stock valued at $34,762,000 after purchasing an additional 84,509 shares during the period. Victory Capital Management Inc. lifted its position in shares of Broadstone Net Lease by 35.5% during the third quarter. Victory Capital Management Inc. now owns 1,454,507 shares of the company’s stock worth $27,563,000 after purchasing an additional 380,772 shares in the last quarter. Brookfield Corp ON purchased a new position in shares of Broadstone Net Lease in the third quarter valued at $18,444,000. Finally, Sage Advisors LLC grew its holdings in Broadstone Net Lease by 2.7% during the 3rd quarter. Sage Advisors LLC now owns 932,736 shares of the company’s stock valued at $17,675,000 after purchasing an additional 24,670 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Stock Performance

Shares of BNL stock opened at $15.52 on Monday. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 20.42 and a beta of 1.11. Broadstone Net Lease, Inc. has a one year low of $14.20 and a one year high of $19.15. The company’s 50-day simple moving average is $16.11 and its 200-day simple moving average is $17.30.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BNL. JMP Securities raised shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research report on Tuesday, December 17th. Citizens Jmp raised Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Finally, UBS Group assumed coverage on Broadstone Net Lease in a research note on Thursday, November 14th. They set a “neutral” rating and a $18.00 price objective for the company. One 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Broadstone Net Lease presently has a consensus rating of “Hold” and an average target price of $18.60.

Broadstone Net Lease Company 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.