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

Legato Capital Management LLC reduced its position in Broadstone Net Lease, Inc. (NYSE:BNL) by 57.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 36,585 shares of the company’s stock after selling 49,088 shares during the period. Legato Capital Management LLC’s holdings in Broadstone Net Lease were worth $580,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in Broadstone Net Lease by 257.5% in the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $33,000 after purchasing an additional 1,272 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Broadstone Net Lease by 156.5% during the 3rd quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock valued at $74,000 after acquiring an additional 2,381 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Broadstone Net Lease by 636.6% during the 3rd quarter. US Bancorp DE now owns 3,941 shares of the company’s stock worth $75,000 after acquiring an additional 3,406 shares during the period. KBC Group NV boosted its position in shares of Broadstone Net Lease by 29.4% in the third quarter. KBC Group NV now owns 6,220 shares of the company’s stock worth $118,000 after acquiring an additional 1,413 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Broadstone Net Lease by 35.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,314 shares of the company’s stock valued at $138,000 after purchasing an additional 1,908 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

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

Broadstone Net Lease Price Performance

NYSE:BNL opened at $15.33 on Friday. The business’s 50-day moving average is $15.93 and its two-hundred day moving average is $17.22. The firm has a market capitalization of $2.89 billion, a PE ratio of 20.16 and a beta of 1.11. Broadstone Net Lease, Inc. has a 12 month low of $14.20 and a 12 month high of $19.15.

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.