Cetera Investment Advisers Increases Stock Position in Broadstone Net Lease, Inc. $BNL

Key Points

• Cetera Investment Advisers increased its Broadstone Net Lease stake by 19.9% in the first quarter, adding 131,951 shares to own 795,584 shares valued at approximately $14.5 million. Institutional investors collectively hold 89.07% of BNL’s outstanding stock.
• Broadstone Net Lease reported quarterly EPS of $0.24, beating analysts’ $0.18 estimate, while revenue of $121.4 million also exceeded expectations. Analysts project full-year EPS of $1.52.
• BNL shares opened at $22.39, near the company’s 52-week high of $23.10. Wall Street maintains a “Moderate Buy” consensus, with an average price target of $22.00 and seven Buy ratings versus four Holds.

Cetera Investment Advisers increased its holdings in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 19.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 795,584 shares of the company's stock after acquiring an additional 131,951 shares during the quarter. Cetera Investment Advisers owned approximately 0.42% of Broadstone Net Lease worth $14,535,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of BNL. NewEdge Wealth LLC grew its position in Broadstone Net Lease by 57.8% during the 1st quarter. NewEdge Wealth LLC now owns 22,461 shares of the company's stock worth $410,000 after purchasing an additional 8,228 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Broadstone Net Lease by 155.1% in the first quarter. First Trust Advisors LP now owns 204,286 shares of the company's stock valued at $3,732,000 after buying an additional 124,218 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Broadstone Net Lease in the first quarter valued at about $145,000. Dimensional Fund Advisors LP raised its holdings in shares of Broadstone Net Lease by 4.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,696,795 shares of the company's stock valued at $49,273,000 after buying an additional 103,091 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of Broadstone Net Lease by 38.1% during the first quarter. KBC Group NV now owns 7,352 shares of the company's stock worth $134,000 after buying an additional 2,028 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Broadstone Net Lease Stock Performance

BNL stock opened at $22.39 on Wednesday. Broadstone Net Lease, Inc. has a one year low of $15.77 and a one year high of $23.10. The stock has a market capitalization of $4.29 billion, a PE ratio of 34.45 and a beta of 0.94. The company has a fifty day moving average of $21.19 and a 200-day moving average of $19.91.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.06. Broadstone Net Lease had a net margin of 27.01% and a return on equity of 4.17%. The business had revenue of $121.40 million for the quarter, compared to analyst estimates of $118.84 million. Equities analysts forecast that Broadstone Net Lease, Inc. will post 1.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Weiss Ratings raised Broadstone Net Lease from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 4th. Citigroup downgraded Broadstone Net Lease from a "market perform" rating to a "market perform" rating in a research note on Friday, June 12th. KeyCorp increased their price objective on Broadstone Net Lease from $20.00 to $24.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Citizens Jmp downgraded Broadstone Net Lease from an "outperform" rating to a "market perform" rating in a research note on Friday, June 12th. Finally, BTIG Research boosted their target price on Broadstone Net Lease from $21.00 to $23.00 and gave the company a "buy" rating in a report on Friday, June 26th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Broadstone Net Lease currently has a consensus rating of "Moderate Buy" and an average price target of $22.00.

Broadstone Net Lease Profile

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.

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